Staff Reports | Dwellings & Multifamily
Kidder Mathews has completed the sale of Eclipse Luxury Condominiums, a 20-unit multifamily property at 1401 N. Granite Reef Road in Scottsdale, for $10,275,000.
The transaction achieved a price of $513,750 per unit, the highest recorded in the Phoenix metro area for a multifamily property under 100 units during the past two years, according to a press release.
The 37,236-square-foot property was listed exclusively by the Abert-Zinn Multifamily Team at Kidder Mathews, led by Senior Vice President Karl Abert and Vice President Bret Zinn, on behalf of seller Caliber Companies, Circle Lofts Holdco, LLC. The buyer was Aspen Grove Circle Lofts, LLC, a Kansas City–based private real estate syndication led by Mike O’Hara and partners.
Following a marketing campaign, the team received more than 10 offers, creating a competitive bidding environment that produced a strong outcome for the seller and record pricing for the property.
Eclipse includes large two- and three-bedroom units ranging from approximately 1,752 to more than 2,000 square feet. The community was constructed with a homeowners association already in place, allowing for potential future individual unit sales.
“Eclipse stood out for its scale, design, and location,” Bret Zinn, vice president at Kidder Mathews, said. “The combination of large floor plans, consistent performance, and its positioning within the Old Town Scottsdale submarket drove strong interest and a competitive process.”
“This sale demonstrates how distinctive assets continue to command premium pricing when positioned correctly,” Karl Abert, senior vice president at Kidder Mathews, said. “Eclipse isn’t just a visually compelling property—it’s a scarce investment opportunity, and the competitive response reflected that.”
Located in the Old Town Scottsdale submarket, the property has historically achieved high occupancy and lease rates. Eclipse benefits from proximity to dining, nightlife, resorts and retail, as well as the nearby ASU SkySong Innovation Center and the Scottsdale-McDowell Corridor.
Caliber Companies is a Scottsdale-based real estate investment and alternative asset management firm overseeing more than $2.9 billion in assets across multiple property types.
