Pierside Capital Announces Disposition of Luxury Residential Asset in Scottsdale, AZ

5/19/2026 – Huntington Beach, CA –Pierside Capital is pleased to announce that it has successfully sold a luxury residential asset in the Troon Ridge Estates neighborhood of Scottsdale, AZ.

The asset was purchased in February 2022 by an affiliate of Pierside Capital with a planned three-year hold period.  The business plan included securing a long-term tenant for the property and repositioning the asset for a sale at the end of the hold period.  The investment yielded a net 25.80% IRR and a 2.04x MOIC to our investors over an approximate four-year hold period.  Proceeds from the investment will be reinvested into other value-add residential assets in the southwest US.

“We purchased this asset in 2022 at a time when interest rates were on the rise.  Despite the market uncertainty, we got comfortable with the deal based on our going-in price and investment structuring.  Our goal was to protect our investment in case real estate prices were negatively impacted by higher interest rates.” Commented Derek Uldricks, co-founder of Pierside Capital.  “Despite the longer hold period, soft sales market, and high interest rates, we exited the investment with a strong return and our investors are happy with the result.” 

Pierside Capital is a real estate investment sponsor and developer based in Huntington Beach, CA.  Pierside focuses on making investments in luxury residential, hospitality, and multifamily assets across the country.