Skip Ribbon Commands
Skip to main content

News release

Phoenix

Financing Gives Green Light to Phoenix Multifamily Value-Add Project

JLL secures $15.6 million in acquisition financing for Pheasant Run Apartments



​​Investors continue to covet value-add product in the Phoenix metro area as job and rent growth steadily increase. On behalf of Phoenix Property Company, JLL’s Capital Markets experts today announced the firm secured $15.6 million in financing for the acquisition of Pheasant Run Apartments, a value-add multifamily community in Chandler, Arizona. Bank of America, N.A. provided the loan.

Executive Vice Presidents Mark Brandenburg and Dan Bryson, Senior Vice President Charles Steele and Vice President Beverly Woodall led the JLL team on the transaction.

 

Located just two miles from downtown Chandler, Pheasant Run Apartments offers tenants access to the Loop 101 and Loop 202 Freeways as well as abundant retail options across the street.

 

Comprised of 23 two-story buildings totaling 248 units, Pheasant Run Apartments’ amenities include a clubhouse, a fitness center, two pools and a picnic area with barbecues. In-unit amenities include washer and dryer, walk-in closets and patios or balconies.

 

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 a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

 

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page:http://bit.ly/18P2tkv.

-Ends-

About JLL

 

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visitwww.jll.com.