Epoch Residential sells Phoenix apartments to Knightvest Capital
JLL Capital Markets completes the sale and financing of the metro area apartments with lender, Freddie Mac
PHOENIX, June 25, 2020, – JLL Capital Markets announced today 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 multi-housing 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.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
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 $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Epoch Residential
Epoch Residential is a fully integrated development, construction and management company that has managed over 100,000 multi-family units in more than 90 cities nationwide. The company has developed and built over 36,000 units in more than 55 cities nationwide since 1970, and has corporate offices in Winter Park, Florida.
About Knightvest Capital
Founded in 2007, Knightvest has become a major player in repositioning multifamily assets, transforming more than 100 properties, and consistently delivering exceptional returns for investors, and a better quality of life for its residents.