Leon Multifamily Sells Soltra Kierland Apartments for $107.5 Million

Ultra Lux Apartments Trade for Highest Price per Unit Since 2022

PHOENIX – April 16, 2025 – Leon Multifamily has sold Soltra Kierland, a 202-unit core multifamily community located in North Scottsdale, Arizona, to a private investor for $107.5 million. The transaction represents the highest price per unit for a multifamily sale in Metro Phoenix since 2022.

“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. It is further evidence of Leon Multifamily’s commitment to delivering best-in-class communities, as we continue to be very active across the Sun Belt region.”

CBRE negotiated the sale of Soltra Kierland on behalf of Leon Multifamily. Matt Pesch, Vice Chairman, Phoenix Multifamily Institutional Properties, CBRE, said: “Soltra Kierland is a trophy community with a modern design, sophisticated amenities, and ultra luxury appeal that is driving remarkable demand. Leon Multifamily delivered a best-in-class community in the heart of the 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 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, 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, off-leash dog park, climate-controlled dog lounge and pet spa, and EV charging stations.

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 washer and dryer, 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, eat-in island with quartz countertops and pendant lighting, distinctive glass tile backsplash, and undermount LED countertop lighting. Select units include quartz waterfall island countertop, black stainless steel appliances, gas stoves, 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 wildly popular Waste Management Phoenix Open.

About Leon Multifamily

Part of Leon Capital Group, Leon Multifamily develops vibrant communities with a dedication to lasting 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 in the pipeline.