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SCOTTSDALE, ARIZ. — Chicago-based Fringe Capital Partners has completed the disposition of The Hayden, a multifamily community in Scottsdale. San Francisco Bay Area-based Fivey Co. acquired the property for $8.3 million, or $330,000 per unit.
Located at 2635 N. Hayden Road, the garden-style property features 25 two-bedroom/one-bath apartments spread across two two-story buildings. Community amenities include a pool, courtyard and covered parking.
Fringe Capital repositioned the property, which was originally built in 1978, last year with premium finishes.
Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Frickle of CBRE represented the seller in the deal.