August 5, 2019
JLL Income Property Trust Acquires 273-unit Apartment Community in Suburban Phoenix
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) today announced the acquisition of...

JLL Income Property Trust Acquires 273-unit Apartment Community in Suburban Phoenix

July 31, 2019 | JLL Income Property Trust, Inc. 

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ:
ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) today announced the acquisition of Summit at San Marcos, a newly-developed 273-unit award-winning urban garden-style Class A apartment community in the prominent Phoenix suburb of Chandler, Arizona. The purchase price was $72 million.

“The city of Chandler, and more broadly Phoenix’s strong market fundamentals,
favorable business environment and attractive demographics coupled with Summit at San Marcos’s location in an outstanding school district make this acquisition an excellent fit with JLL Income Property Trust’s suburban apartment strategy,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “This investment brings our aggregate apartment allocation to nearly $900 million, with 3,400 total units representing 32 percent of the
value of the JLL Income Property Trust portfolio.”

Chandler is within the area of Phoenix dubbed “The Silicon Desert” which has seen an influx of technology and financial companies benefitting from a lower cost of doing business, a more affordable higher quality of life and a strong and growing talent pool. The city hosts an Intel corporate campus, multiple semiconductor and electronic component manufacturing firms while the broader Phoenix market continues to expand with over 300,000 jobs in a 10-mile radius.

Read Press Release

Recent

Shorehaven Mixed-Use Development Tops Out in Tempe

Shorehaven Mixed-Use Development Tops Out in Tempe

Cantor Fitzgerald and Silverstein Properties mark a milestone with Shorehaven, a new luxury mixed-use project on Tempe Town Lake, featuring residential units, retail, and community amenities for a premier waterfront experience.

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now