JLL’s Seniors Housing Capital Markets team led the sales efforts for The Palazzo, a 327-unit facility
News release
30 October 2024
Investor picks up Phoenix-area seniors community
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PHOENIX, Oct. 30, 2024 – JLL Capital Markets announced today that it has completed the sale of The Palazzo, a 327-unit seniors housing community in Phoenix, Arizona.
JLL’s Seniors Housing Capital Markets team represented the seller, in the sale of the property.
The Palazzo is located at 6250 N 19th Ave. in the Christown neighborhood of downtown Phoenix. The 13.8-acre site has excellent visibility with more than 23,000 cars per day passing by the site and is positioned in a densely populated area of the city. Phoenix is the fifth largest city in the U.S. with a population of more than 800,000 residents within 15 minutes of The Palazzo.
Renovated between 2017 and 2019, The Palazzo consists of two three-story towers, North and South, which together provide 327 units and 360 total beds. The units are broken out into a mix of 100 independent living, 171 assisted living, 60 skilled nursing and 29 memory care beds. Community amenities include a heated pool and jacuzzi, library and computer center, billiard room, gift shop, movie theatre, café, bar, wine cellar, beauty shop, private dining room, exercise classes, laundry facilities and 24-hour concierge services.
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 sales 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.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.