The Hampton Group has secured $141 million in construction financing for IKONIC Scottsdale, a 14-story luxury rental tower at Scottsdale and Bell roads slated for completion in 2028. Greystone arranged the loan, which consists of a senior mortgage from Bank OZK and mezzanine debt from Related Fund Management. The project enters a north Scottsdale submarket where vacancy has been trending down and new completions are expected to fall nearly 50% this year, potentially setting up Class A properties for renewed rent growth.
