JLL Capital Markets announced that it has completed the sale and financing of Capital Place apartments located at 11 S. 12th St. in Phoenix, Arizona.
JLL arranged the sale from Epoch Residential to Knightvest Capital. JLL also worked on behalf of Knightvest Capital to secure the acquisition financing through Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠lender.
Capital Place was built in 2016 and contains 292 multihousing units within two five-story buildings. A high-demand apartment community, resident amenities include a resort-style swimming pool, state-of-the-art fitness center, clubhouse, spa, access to cabanas and barbeque grills, parking garages and more. In-home features include stainless steel kitchen appliances, custom kitchen cabinets, granite counter tops and covered balconies, among others.
The community is located in the metro-Phoenix area, in close proximity to the city’s popular business and entertainment districts such as the Phoenix Convention Center, Chase Field (MLB), Talking Stick Resort Arena (NBA) and multiple renowned medical and education institutions.
The JLL Capital Markets Investment Advisory team representing the seller includes Mike Higgins, Charlie Steele and John Cunningham. The acquisition financing was placed by JLL’s Mark Brandenburg and Brad Miner.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.