JLL Income Property Trust acquires 273-unit apartment community in Arizona

JLL Income Property Trust has acquired 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, Ariz. The purchase price was $72 million.

The seller was not disclosed.

Completed in 2018, Summit at San Marcos 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. The apartment community’s 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.

“The city of Chandler, and more broadl