August 5, 2019
JLL Income Property Trust acquired Summit at San Marcos, a newly-developed 273-unit apartment community in the Phoenix suburb of Chandler, AZ. The purchase price of the award-winning urban garden-style Class A property at 455 W. Chandler Blvd. was $72 million.
JLL Income Property Trust’s Allan Swaringen says, “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.”
Completed in 2018, the asset features premium interior finishes and luxury amenity packages, with walkable access to the live-work-play experience of Downtown Chandler and direct proximity to the San Marcos Golf Course. Common area amenities include a swimming pool and spa, private cabanas, fire pits, barbecue grills and a putting green. The clubhouse features a demonstration kitchen, a fitness center and a tech café.
For comments, questions or concerns, please contact Dennis Kaiser