Knightvest Capital has acquired Accolade, a 548-unit apartment community in Arizona for $155 million from Weidner Apartment Homes. The sale is among the top five largest transactions in Arizona history by total purchase price.

Accolade is in a prime location. The property is on 28 acres at the intersection of Bell Road and Central Avenue in Phoenix, making it accessible to the most frequently traveled freeways, Interstate 17, Loop 101, and State Route 51. It is located near several major employers, including Honeywell, Blue Cross Blue Shield, Waste Management of Arizona, Wells Fargo, USAA, Discover Financial Services, Cox Communications and PetSmart, and only four other apartment communities have been built in the area since 2010.

The property is well amenitized with four swimming pools and two spas, a clubhouse and an open-air conference area. Interior units have an average size of 856 square feet and feature full-size washers and dryers, wood-style vinyl flooring and carpet, walk-in closets and private patios or balconies.