Summit at San Marcos

Chandler, AZ

Acquired August 2019

At a Glance

Newly-developed 273-unit award-winning urban garden-style Class A apartment community in the prominent Phoenix suburb of Chandler, Arizona.

Investment Rationale

  • Summit at San Marcos is located at the intersection of several of Arizona’s most prominent thoroughfares providing access to the Greater Phoenix area with centers of employment including the Price Corridor (Intel, Wells Fargo, BofA, Paypal), ASU Research Park (JPMorgan Chase, GoDaddy), and the West Chandler Corridor (Intel, Verizon, ADP).

  • The property is also located in the highly desirable Chandler Unified School District and is rated #1 in the Phoenix area and #2 in all of Arizona by Niche.

  • Chandler is within the area of Phoenix dubbed “The Silicon Desert” which has seen an influx of technology and financial companies benefitting from a lower cost of doing business, a more affordable higher quality of life and a strong and growing talent pool.

  • Completed in 2018, Summit at San Marcos features premium interior finishes and luxury amenity packages with walkable access to the live-work-play experience of Downtown Chandler and direct proximity to the San Marcos Golf Course. The apartment community’s common area amenities include a swimming pool and spa, private cabanas, fire pits, barbecue grills and a putting green. The clubhouse features a demonstration kitchen, a fitness center and a tech café.

  • Phoenix’s strong market fundamentals, favorable business environment and attractive demographics coupled with Summit at San Marcos’s location in an outstanding school district make this acquisition an excellent fit with JLL Income Property Trust’s suburban apartment strategy.

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