News release

432-unit Phoenix multi-housing community closes

JLL Capital Markets closed the sale of Oxford Apartment Homes and arranged acquisition financing

October 18, 2021

Cierra Lacasse

Hotels & Hospitality and Capital Markets
+ 1602 648 8701

PHOENIX – Oct. 18, 2021 – JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Oxford Apartment Homes, a 432-unit, low-density garden-style multi-housing community in Phoenix, Arizona.

JLL marketed the property on behalf of the seller, Knightvest Capital, and procured the buyer, S2 Capital Partners. Additionally, working on behalf of the new owner, JLL secured the floating-rate loan with Blackstone Mortgage Trust, Inc. (NYSE: BXMT).

Oxford Apartment Homes comprises one-, two- and three-bedroom units averaging 888 square feet. The seller implemented two separate renovation scopes to the property with 182 units being fully renovated and 74 units partially renovated. Common area renovations included upgraded clubhouse, fitness facility and pool, new package lockers, lighting enhancements and new signage.

Located at 3777 East McDowell Rd., Oxford Apartment Homes is situated just northwest of the Loop 202 and SR 143 interchange, in one of the Valley’s most central locations. The property offers residents exceptional access to the Valley’s major employment hubs and entertainment amenities including Downtown Phoenix, North Tempe/ASU, South Scottsdale, Midtown Phoenix and Camelback Corridor.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Director Mike Higgins, Managing Directors John Cunningham and Charles Steele and Analyst Matt Prokop.

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Managing Director Mark Brandenburg, Managing Director Michael Cosby and Senior Director 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 and sales 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.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Knightvest Capital

Knightvest specializes in purchasing well located assets that exhibit high potential for a value-add program. The investment focus includes the urban cores within Texas, Arizona, Oklahoma and North Carolina given the pro-business environment in these states, along with accelerating population and employment growth. Knightvest has acquired approximately 45,000 units since 2008 and currently owns and manages over 30,000 units with a portfolio value of ~$5.0 billion. Knightvest is a vertically integrated company and utilizes in house property management, construction management and asset management to ensure the proper execution of the business plan for each asset. Knightvest has rehabbed over 25,000+ units since inception and is widely recognized as the leading value-add operator in their target markets.

About S2 Capital Partners, LLC

S2 Capital was founded in 2012 to build a national multifamily investment platform specializing in value-add multifamily properties. Its affiliate, S2 Construction LLC, has managed construction/rehabilitation at all of its projects. S2 attributes its success to its people, creating relationships with industry leading investment and banking partners, staying disciplined in their investment strategy, and focusing on driving innovation, distinction and excellence through all facets of multifamily ownership. S2 was ranked the “Fastest-Growing Real Estate company in the U.S.” by Inc. Magazine two years in a row, was voted a “Top 100 Places to Work” by Dallas Business Journal and ranked 21 nationally for “2018 Best Places to Work” by Multifamily Leadership. For more information, visit or call 214-646-9901.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from our loan portfolio. Our portfolio is composed primarily of loans secured by high-quality, institutional assets in major markets, sponsored by experienced, well-capitalized real estate investment owners and operators. These senior loans are capitalized by accessing a variety of financing options, depending on our view of the most prudent strategy available for each of our investments. BXMT is externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone.