JPI announced the sale of Jefferson Chandler to Dallas-based Rosewood Property Company. The city of Chandler, part of the Phoenix East Valley, has experienced tremendous job growth over the last several years. Intel, for example, is a top employer in the city with over 11,000 jobs and is investing $7 billion into a Chandler production facility. This city is quickly living up to its reputation as the “Silicon Desert.”
Jefferson Chandler, a 283-home community developed by JPI in 2018, is managed by Alliance Residential. The community is conveniently located near Chandler Fashion Center, which offers terrific connectivity to major employment centers, first-class retail and fine dining. The location also boasts great visibility and proximity to the freeway interchange of Loop 101 and Loop 202, which are major travel arteries of Phoenix.
“We are proud of the community we have created in Jefferson Chandler, and we’re excited to transition it to Rosewood Property Company,” said Rosie Cooper, Executive Vice President and Regional Managing Partner – Western Region at JPI. “As the city’s economy continues its healthy job growth, Jefferson Chandler is well-positioned to capitalize on sustained demand for multifamily housing, and we believe Rosewood is the perfect owner to capitalize on that growth.”
JPI aims to offer a unique living experience at each of its communities, with a well-balanced and diversified array of services, amenities and design features. JPI believes that together, these elements produce the most gratifiying resident experience, and Jefferson Chandler is no exception.
“Jefferson Chandler marks our first transaction with Rosewood Property Company,” said Brad Taylor, Chief Executive Officer and Managing Partner at JPI. “This transaction has gone smoothly from beginning to end. It has been an honor to partner alongside a team of such high caliber, and we are hopeful for more opportunities to work together.”
“We are excited about our first acquisition in the Phoenix market, specifically the dynamic submarket of Chandler in the East Valley,” said Rick Perdue, President of Rosewood Property Company. “Jefferson Chandler is a perfect example of our current focus on core-plus communities in high-growth markets. JPI continues to bring top multifamily communities to the market, and Jefferson Chandler is a great illustration of that quality. We look forward to partnering with JPI again.”