JLL Capital Markets announced that it has closed the sale of Sedona Ridge, a 250-unit, garden-style multihousing community in Phoenix, Arizona.
JLL marketed the property on behalf of the owner, Sares Regis Multifamily Funds. An undisclosed buyer acquired the property.
Sedona Ridge comprises one-, two- and three-bedroom units averaging 941 square feet. Apartments feature spacious floor plans, a full-size washer and dryer and private balcony or patio. Select units also feature bay windows, nine-foot or vaulted ceilings and fireplaces. The community has two swimming pools and spas, a newly renovated fitness center, sand volleyball court, detached garages, dog park, package locker system, outdoor picnic area and a clubhouse.
Located at 5010 East Cheyenne Dr., Sedona Ridge is in the Ahwatukee Foothills, which is the southernmost village in the city of Phoenix. Nestled on the southside of South Mountain Park, Ahwatukee is one of the most desirable communities in the Valley with strong demographics, access to major employment corridors, great schools and lifestyle amenities.
The JLL Capital Markets Investment Sales Advisory team that represented the seller was led by Director Mike Higgins and Managing Directors John Cunningham and Charles Steele.
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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.