Hawaii-based investment firm MacNaughton has scooped up Residences Kierland, a 290-unit luxury apartment community in the Kierland neighborhood near Scottsdale, in a deal that underscores how hot this corner of the Valley still is for deep-pocketed buyers. The six-story complex, which opened in 2023, sits within walking distance of Kierland Commons and Scottsdale Quarter. The acquisition was completed with a Japanese capital partner and folds another high-end property into the Honolulu company’s growing U.S. portfolio.
Quarterra Multifamily sold the asset, while Nationwide supplied a $90 million, five-year acquisition loan, according to Multi‑Housing News. The community offers one- and two-bedroom units ranging from roughly 691 to 2,025 square feet, with in-unit washers and dryers and digital locks standard. Per that reporting, this marks the property’s first sale since it came online in 2023.
MacNaughton’s U.S. Push
MacNaughton, headquartered in Honolulu, has been steadily building out a mainland footprint with recent investments in Seattle, Portland and Dallas, according to MacNaughton. Pacific Business News reported that the Scottsdale-area acquisition was completed with a Japanese investment partner, in line with the firm’s previous tie-ups with overseas capital. Company materials indicate those relationships are designed to let MacNaughton move quickly on larger, institutional-scale deals.
What Residents Will See
The property’s leasing site touts a long amenity roster that includes a clubhouse, fitness center, dog park, spa, resort-style pool and on-site EV chargers, according to Residences Kierland. Select homes are listed with balconies, penthouses and two-car townhome garages. Units come with full-size washers and dryers and keyless entry systems as standard, and management is promoting dedicated resident services and concierge options to position the community at the top end of the Kierland rental market.
Deals Slow but Big Buys Keep Coming
Multifamily deal activity has cooled nationwide this year, yet the Phoenix area is still landing sizable single-asset trades, data cited by Multi‑Housing News shows. That reporting references Yardi Matrix figures that put U.S. multifamily transaction volume down about 10.7 percent year over year through May, even as investors remain keen on well-located luxury properties. For MacNaughton, the Kierland purchase widens its footprint in a market where demand for amenity-heavy rentals remains solid.
