CBRE Arranges Sale of Soltra Kierland Apartments for $107.5 Million

CBRE negotiated the sale of Soltra Kierland, a 202-unit core multifamily community located in North Scottsdale, Ariz. CBRE's Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented the seller, Leon Capital Group subsidiary Leon Multifamily. A private investor acquired the community for $107.5 million. The transaction represents the highest price per unit for a multifamily sale in Metro Phoenix since 2022.

“Soltra Kierland is a trophy community with a modern design, sophisticated amenities, and ultra-luxury appeal that is driving remarkable demand,” said CBRE’s Pesch. “Leon Multifamily delivered a best-in-class community in the heart of North Scottsdale’s luxury housing market, and we had a tremendous response from the capital markets during our process.”

Completed in 2024, Soltra Kierland is a 5-over-2 podium construction with expansive amenities and custom home-level unit interiors. The community’s resort-inspired pool area has a spa, sunning decks, fire features, barbecue grills, a cornhole grotto, and an entertainment deck with passthrough seating connected to the resident clubhouse. Soltra Kierland’s expansive clubhouse features a grand room with two-story floor-to-ceiling windows and a retro-style speakeasy with beer taps. The two-story, club-style fitness center includes state-of-the-art cardio and weight training equipment and a separate yoga terrace. Additional luxury amenities include a Soltra café wi-fi lounge, an off-leash dog park, climate-controlled dog lounge and pet spa and EV charging stations.

Part of Leon Capital Group, Leon Multifamily develops vibrant communities with a dedication to sustainable design and thoughtful amenities. Leon Multifamily has recently developed best-in-class communities in Arizona, Texas, and North Carolina with more than 5,000 units under construction or pipeline.

“The success of Soltra Kierland is a testament to the strong demand for highly amenitized apartments in North Scottsdale,” said Leon Capital Group executive managing director Blake Schroeder, “Soltra Kierland sets a new standard for luxury apartments in the submarket.”

Individual residences are spacious with open contemporary floorplans and custom home-quality finishes. All apartment homes include wood-style flooring throughout, custom built-ins, full-size washers and dryers, extravagant walk-in closets, designer lighting, and plumbing fixtures, custom Scandinavian-inspired cabinetry, private balconies or garden terraces with picturesque views, modern roller shade window coverings, walk-in rain showers, double sinks, and programmable smart thermostats. Gourmet kitchens feature stainless steel Energy Star appliances, an eat-in island with quartz countertops and pendant lighting, distinctive glass tile backsplash, and under-mount LED countertop lighting. Select units include a quartz waterfall island countertop, black stainless steel appliances, gas stoves, an under-counter wine fridge, soaking tubs and floor-to-ceiling bifold patio doors.

Soltra Kierland is in the heart of Kierland’s high-end retail core. Luxury lifestyle centers Kierland Commons and Scottsdale Quarter are blocks away from the community, providing residents with 584,000 sq. ft. of walkable high-street retail and fine dining destinations. More than a dozen world-class resorts and golf clubs are located within five miles of Soltra Kierland, including TPC Scottsdale, home of the Waste Management Phoenix Open.