Hampton Group Lands $141M Construction Loan for Scottsdale, Ariz., Resi Tower
By Emily Davis June 2, 2026 3:25 pm
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The Hampton Group’s planned residential tower in North Scottsdale, Ariz., has clinched a $141 million construction loan to fund its luxe build-out.
The fresh capital was supplied by a senior mortgage from Bank OZK and a mezzanine loan from Related Fund Management, both of undisclosed amounts. The financing for the ground-up development will yield a 14-story, 245-unit ultra-luxury multifamily tower known as Ikonic Scottsdale.
Greystone’s Drew Fletcher, Bryan Grover and Jesse Kopecky brokered the debt deal.
“Ikonic Scottsdale is exactly the type of transaction where sponsorship quality drives lender confidence,” Fletcher said in a statement. “The Hampton Group brings a unique combination of luxury multifamily development expertise and deep local market knowledge in Scottsdale, which gave lenders conviction in both the vision for the project and the team’s ability to execute.”
The project site is at 16640 North Scottsdale Road, at the corner of Bell Road. Ikonic Scottsdale has been billed by Hampton Group as the tallest –– and most luxurious –– apartment building in North Scottsdale.
The Gensler-designed tower will feature a mix of one- to three-bedroom residences averaging roughly 1,062 square feet, with private balconies, mountain views and an amenity package that includes a rooftop pool. Gilbane Building Company has been tapped for the construction, which is expected to be completed in 2028.
Emily Davis can be reached at edavis@commercialobserver.com.
