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Multifamily Sale Fetches Record-Setting $54 Mil

SCOTTSDALE, AZ-JPI of Irving, TX has hawked its 539-unit Jefferson at Scottsdale for $54 million in a record-breaking price for the region. The $100,185 per unit price is $26,645 higher than the average.

By D.J. Burrough | Updated on May 04, 2001

SCOTTSDALE, AZ-A JPI-owned multifamily complex in Scottsdale has set a record sales price in the region, fetching $54 million for its Irving, TX-based developer and owner.

James Almon, a private investor from Seattle, has purchased the Jefferson at Scottsdale, a 539-unit complex at 17212 N. Scottsdale Rd. The sale price equates to $100,185 per unit, perhaps the highest ever paid. The average price paid for complexes built in the past six years is $73,540 per unit, according to a survey of 2000 sales by Hendricks & Partners.

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