Redwood Enters Phoenix Apartment Market

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.