CBRE Handles Sale of The Core Scottsdale Apartments

CBRE negotiated the sale of The Core Scottsdale, a 282-unit luxury multifamily community in North Scottsdale. CBRE's Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented the seller, a Canadian-based institutional investor. Scottsdale-based MC Companies acquired the Class A community.

“This is the sixth large multifamily transaction in North Scottsdale in the last 12 months and the submarket continues to see significant interest from both institutional and private investors,” said Pesch, vice chairman at CBRE. “MC Companies was in a 1031 exchange and the community was an excellent fit for their long-term hold strategy.”

The Core Scottsdale will be managed by MC Residential, the company's property management arm. Built in 2018, the community features four-story wrap construction, condominium-quality interior finishes, and sophisticated amenities including a rooftop pool with expansive city and mountain views.

Individual residences feature 9-foot ceilings, luxury vinyl plank flooring, modern pendant lighting, nest thermostats, front-loading washer and dryer and spacious bedrooms large enough for a king-sized bed. Gourmet kitchens include quartz countertops with undermount sink and gooseneck faucet, stainless steel GE appliances, gas cooktops, custom cabinetry with under-cabinet lighting, tile backsplash and wine refrigerator.

“North Scottsdale is one of the most dynamic multifamily submarkets in the West and the community presented an exceptionally attractive opportunity to expand our footprint in Metro Phoenix. Acquiring in this location is not just a strategic investment, it is an opportunity to anchor long-term value in one of Arizona’s most resilient and affluent communities,” said Charlie Koznick, Chief Investment Officer at MC Companies.

The community is located in the heart of the Scottsdale Airpark Employment Corridor. It has one of the most walkable locations in the area with approximately 2 million sq. ft. of amenities within several blocks including more than 30 contemporary restaurants and bars.

MC Companies is a real estate investment, development, construction, and management company specializing in multifamily properties. The Core Scottsdale is MC Companies’ second Phoenix-area acquisition in 2025. Since 2001, MC Companies has executed on approximately $3.8 billion in multifamily assets.