Investor picks up Phoenix-area seniors community

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 19^th 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.

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