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SCOTTSDALE, ARIZ. — Sentinel Real Estate Corporation has purchased The Paragon at Kierland, a 276-unit luxury apartment complex in Scottsdale, for $57 million. The Class A community is located at 15608 N. 71st Street on the Westin Kierland Golf Course. It is currently 98 percent occupied.
This transaction represents the highest per-unit sale in Greater Phoenix so far this year. It also represents the highest per-unit sale in the past five years for properties without an active condo map in this region, according to Colliers International in Greater Phoenix. The firm’s Southwest Multifamily Advisors’ team represented the seller, Sunstone Realty Advisors, in this transaction. The team includes Jerry Tenge and Tristan Charlesworth.