Institutional Property Advisors Closes The Hadley North Scottsdale Multifamily Asset Sale

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The Hadley North Scottsdale
The property is adjacent to the Scottsdale Quarter open-air shopping center and across the street from Kierland Commons, a pedestrian-oriented, tree-lined area with 400,000 square feet of upscale retail and dining.

Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of The Hadley North Scottsdale, a 240-unit, mid-rise multifamily asset in Scottsdale, Arizona.

IPA executive managing directors Steve Gebing and Cliff David represented the seller and procured the buyer. Proximity to the Loop 101/Pima Freeway places residents within a short drive of Scottsdale Airpark and the Kierland Corridor, one of Arizona’s three largest employment concentrations. Nearby employers include the Mayo Clinic, Vanguard, Nationwide Insurance, Axon Enterprise, and American Express.

The Hadley North Scottsdale

Completed in 2014, The Hadley North Scottsdale’s apartment homes feature nine-foot ceilings, wood-style plank flooring, full-size washers and dryers, large walk-in closets, and private patios or balconies. The average unit size is over 1,000 square feet. Community amenities include a resort-style heated pool and a clubhouse with conference room and workstations.

The Hadley North Scottsdale

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.

Marcus & Millichap, Inc. (NYSE: MMI) is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.