Artis REIT, a Winnipeg, Manitoba-based trust that invests in office, industrial and retail properties, has purchased MAX at Kierland, at 258,312-square-foot Class A office building in Scottsdale, for $79 million. The seller, a joint venture between Clarion Partners and Trammell Crow Co., was represented by CBRE Group Inc. in the transaction.

Armin Martins, Artis’ CEO, called the asset a “very high quality property” that “represents an excellent investment for Artis. ...