July 15, 2020
Fairfield Residential acquired Jefferson Town Lake, a 244-home, 1.6-acre luxury apartment community in Tempe from Irving, TX-based JPI, reportedly for $73 million. The property at 909 E. Playa Del Norte Dr. is one of only five multifamily communities located on the banks of Tempe Town Lake and was completed last year.
Unit floorplans include studio, one- and two-bedrooms, as well as penthouse apartments spread across the six- and seven-story building. Amenities include condominium-level finishes, nine-foot ceilings, wood-style flooring, balconies and gourmet kitchens featuring quartz countertops, gas stovetops, under-cabinet lighting and wine refrigerators. Community amenities include a rooftop terrace with lake views, a pool and spa deck, a state-of-the-art fitness center, an onsite convenience store kiosk, and a resident clubhouse.
The property at North Scottsdale Road and East Playa Del Norte Drive offers direct access to Loop 202 and is near corporate HQ’s of State Farm Insurance, Union Bank and JP Morgan, as well as within walking distance of ASU’s Tempe campus.
For comments, questions or concerns, please contact Dennis Kaiser