JLL Income Property Trust has acquired Summit at San Marcos, a new construction 273-unit garden-style apartment community in Chandler, Arizona, for $72 million.

Chandler is known as the Silicon Desert area of Phoenix, Arizona. It was built in 2018, and features high-end finishes and 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.

With this purchase, JLL Income Property Trust has an aggregate apartment allocation to nearly $900 million, with 3,400 total units representing 32% of the value of the JLL Income Property Trust portfolio.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Phoenix
Multifamily
Capital Markets