Kidder Mathews has completed the sale of Eclipse Luxury Condominiums, a 20-unit multifamily property located 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 MSA for a multifamily property under 100 units over the past two years.
The 37,236-square-foot property was exclusively listed by Kidder Mathews’ Abert-Zinn Multifamily Team of 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 comprehensive marketing campaign, the team generated a competitive bidding environment with more than 10 offers, resulting in a strong outcome for the seller and record pricing for the property.
Completed as a uniquely designed rental and condominium community, Eclipse features exceptionally large two- and three-bedroom residences ranging from approximately 1,752 to over 2,000 square feet. The property also includes a prepared homeowners association, positioning it for potential future individual unit sales.
“Eclipse stood out for its scale, design, and location,” said Zinn. “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,” said Abert. “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—one of the tightest multifamily markets in the region—the property has historically achieved high occupancy and lease rates. Eclipse benefits from proximity to Scottsdale’s dining, nightlife, resorts, and retail, as well as the nearby ASU SkySong Innovation Center and the rapidly evolving 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 through a vertically integrated platform.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 54 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
