MacNaughton Acquires 290-Unit Luxury Multifamily Rental Community in Arizona

The North Scottsdale property is MacNaughton's sixth investment in Arizona

HONOLULU, HAWAI`I - June 11, 2026 - MacNaughton, a premier, family-owned real estate investment and development firm with assets throughout Hawaii and the continental U.S., today announced that through its affiliate, Kierland Partners LLC, it has acquired a 290-unit, Class-A luxury multifamily rental community in Scottsdale, Arizona.

The property, Residences Kierland, was completed in 2022 and is located in the heart of Kierland, one of Scottsdale's most established and high-demand submarkets.

The transaction represents MacNaughton's sixth investment in the state of Arizona, and is representative of the firm's focus on high-quality, amenity-rich residential assets across the continental U.S.

"Residences Kierland perfectly represents the type of investment we have been focusing on in Arizona - a best-in-class asset in a demonstrably high-demand location, with a resident profile and amenity program that position the asset for durable, long-term outperformance," said Ian MacNaughton, Chief Executive Officer and Principal of MacNaughton. "North Scottsdale continues to benefit from powerful structural tailwinds-high-wage employment growth, significant capital investment by leading technology and healthcare institutions, and lifestyle infrastructure that is genuinely difficult to replicate. Additionally, the secular trends driving growth in the Sun Belt are strong and a key part of our multifamily investment thesis as we continue to expand our operating footprint in these types of compelling residential markets."

The acquisition was completed in partnership with Tokyo Tatemono Co., Ltd., a leading Japanese institutional real estate developer and valued partner of MacNaughton. The collaboration reflects the continued confidence of global institutional capital in the durability of U.S. luxury multifamily, and in MacNaughton's ability to identify and execute on compelling opportunities in premier, supply-constrained locations.

Market & Site Fundamentals
Residences Kierland is located at 15825 N. 71st Street in the Kierland submarket of Scottsdale - which consistently ranks among the most sought-after residential neighborhoods in the Sun Belt. The site benefits from a rare combination of walkable retail density, established employment anchors, and high barriers to new supply. Adjacent to Kierland Commons and Scottsdale Quarter, the property offers residents immediate access to approximately 584,000 square feet of premier open-air retail and dining, positioning the asset within one of the few genuine "live-work-play" communities in the Phoenix metropolitan area..

The submarket draws on a deep and growing base of high-wage demand drivers, including the Scottsdale Airpark - one of the largest business parks in the United States - the world-renowned Mayo Clinic campus, and a rapidly expanding semiconductor cluster anchored by significant capital investments from TSMC and AMD. These fundamentals support a renter profile characterized by income stability and rent resiliency, which underpins the community's strong historical occupancy and revenue performance. The property's proximity to the Westin Kierland Resort & Spa, Kierland Golf Club, TPC Scottsdale, and more than a dozen additional world-class resort and golf venues within five miles further reinforces its lifestyle credentials and long-term resident retention dynamics.

Asset Overview
Built in 2022, Residences Kierland comprises 290 units across a range of one- and two-bedroom floor plans, including seven two-story town homes with private direct-access two-car garages. Unit interiors reflect a luxury residences-quality finish specification, including GE Café appliance packages with integrated wine refrigerators, quartz countertops, designer cabinetry, plank flooring, and nine- to eleven-foot ceiling heights. Select penthouse units feature floor-to-ceiling windows, automated roller shades, and unobstructed views of the Kierland Golf Club and surrounding mountain ranges.

The community's amenity program is among the most comprehensive in the submarket and represents a meaningful differentiator in resident acquisition and retention. Signature offerings include The Retreat, a full-service on-site spa with treatment rooms, a salt therapy room, sauna and steam facilities, and hot and cool plunge pools; a resort-style pool deck with private cabanas; an expansive fitness center with direct golf course views, a yoga and cycling studio, and a full complement of cardio and strength equipment; a resident clubhouse with a bar, fireplace, temperature-controlled wine lockers, and an elevated outdoor lounge deck; and a landscaped courtyard with a Zen garden and outdoor entertaining areas. The depth and quality of the property support its premium positioning within the submarket and is what underpins the above-market retention and growth rates MacNaughton expects to command under its stewardship.