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SCOTTSDALE, AZ—Colliers International has been retained as the exclusive marketing agent for The Paragon at Kierland, a 276-unit Class A luxury apartment property, located at 15608 N 71st St. Jerry Tenge, senior vice president of multifamily investments with Colliers in Greater Phoenix, is representing the seller, Sunstone Realty Advisors of Vancouver, Canada. Tenge previously negotiated the acquisition of The Paragon on behalf of Sunstone in November 2009. The call for offers date is June 12, 2013

“The Paragon presents tremendous value-add opportunity as an investment property. The interiors underwent partial upgrades in 2008, but could continue to be further upgraded to improve rents, which already command a 25 % premium in Scottsdale over Greater Phoenix as a whole,” Tenge said. Alternatively, the complex could be completely upgraded and sold as condominiums.

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