Indigo Palms in Phoenix has traded hands for $75 million. Knightvest Capital, in the purchase of the property from a high-net-worth individual in an off-market transaction and secured a $57 million acquisition loan.

The property is an 432-unit, garden-style multi-housing community in Phoenix, Arizona. It consists of 28 two-story buildings that encompass a mix of one-, two- and three-bedroom units totaling 404,987 rentable square feet and is 94% occupied.

The JLL Capital Markets investment advisory team representing the buyer was led by director Mike Higgins. JLL's capital markets debt placement team representing the new owner consisted of senior director Brad Miner, senior managing director Andy Scott and director Mark Brandenburg.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.