SCOTTSDALE, AZ - Rockwell Property Co., a Chicago-based real estate investment firm, has completed the $42 million acquisition of Hayden Park Apartments, a 182-unit garden-style apartment community located minutes from Old Town Scottsdale. The acquisition marks Rockwell's seventh multifamily investment in Arizona, expanding the firm's portfolio to more than 1,300 apartment homes in one of the nation's top multifamily growth markets.
Situated on nearly nine acres, Hayden Park features 21 one- and two-story residential buildings in a park-like setting. Amenities include two resort-style swimming pools and spas, a fitness center, resident lounge and co-working space, barbecue areas and covered parking. One of the property’s distinguishing features is its 46 single-story casita residences with nine-foot ceilings, an uncommon design for apartment communities of its era.
Built in 1985 and meticulously maintained by the same local family ownership since 1999, Hayden Park is located less than one block from the Scottsdale Greenbelt and approximately two miles from Old Town Scottsdale, one of metro Phoenix’s premier destinations. Rockwell prides itself on site selection, and the property’s proximity to premier shopping, dining, recreation and major employment centers made it an ideal addition to the firm's growing Arizona portfolio.
"Hayden Park presented an opportunity to acquire a high-quality property in one of the most desirable submarkets in the nation," said Jason Fishleder, principal at Rockwell Property Co. "Its exceptional location, stable occupancy history and well-maintained condition, combined with opportunities for thoughtful improvements and operational efficiencies, align with our investment approach."
The property has maintained an average occupancy above 96 percent over the past decade while benefiting from recent capital improvements, including unit renovations, upgraded lighting, enhanced landscaping and other property improvements. Rockwell plans a targeted renovation program that includes interior upgrades to the remaining classic casita residences, private patios for select first-floor apartments, and various enhancements to the property's common-area amenities.
The acquisition reflects Rockwell's continued strategy of investing in well-located apartment communities with strong long-term fundamentals. Scottsdale remains one of metro Phoenix’s strongest-performing multifamily submarkets, supported by limited new supply, a diverse employment base and sustained demand for high-quality rental housing.