Scottsdale Waterfront parcel sells for $13.5M, will be apartments

Property that had been slated for another condo tower at the Scottsdale Waterfront instead will become pricey apartments. Alliance Residential Alliance Residential Latest from The Business Journals Scottsdale luxury apartment, retail project gets approvalAlliance Residential plans apartments at Colorado/AlamedaNashville apartment building boom hits pivotal year Follow this company of Phoenix purchased a 3.35-acre parcel south of the Nordstrom parking lot at Scottsdale Fashion Square Mall. The national apartment developer and property management firm paid $13.5 million, or $92.53 per square foot. “Some deals take a long time... this happened pretty fast,” said Don Arones, executive vice president of Cassidy Turley BRE Commercial in Phoenix. Arones, along with partners David Fogler and Steven Nicoluzakis, represented the sellers, Scottsdale Waterfront LLC, a partnership between Starwood Capital Group Starwood Capital Group Latest from The Business Journals Hersha Hospitality narrows loss, continues to sell noncore hotelsTrumark moves into Milpitas with M residential projectGansevoort buyers pay 0 million for condos, hotel, land Follow this company and Chicago-based Golub & Co.

Click here to view this article from its source.