Chicago-based Redwood Capital Group has entered the Phoenix apartment market. The investor has acquired the Carter, a 365-unit class-A apartment complex in Scottsdale. The sales price and name of the seller was not disclosed.

Located in Downtown Scottsdale, the property was constructed in 2018 and features five stories with three elevators that serve all residents and offer direct access to a structured parking garage. It features a full amenity suite.

Scottsdale has a population of 240,000 people, and an affluent demographic. The surrounding area has five-star restaurants, hotels, world-class art galleries, high-end shopping and contemporary nightlife.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Phoenix
Multifamily
Capital Markets
West