| Sterling Organization Pays over $15 Mil for 99k sf Shopping Center in Phoenix
Sterling Organization purchased Union Plaza, a 98.7k sf, grocery-anchored shopping center in Phoenix, for $15.2 mil ($154/sf). The acquisition was funded with a $9.1 mil loan.
Union Plaza, located at 18402 North 19th Ave, ha...
| Tower 16 Capital Partners Buys 540-Unit Res Community in Vegas
San Diego-based Tower 16 Capital Partners, in a joint venture with Henley USA, has acquired Cornerstone Crossing Apartments, a 540-unit multifamily project in northwest Las Vegas, for $49.75 mil ($92k/unit). Tower 16 will ov...
| Scottsdale Sport & Classic Motorcar LLC Buys Showroom Facility in Scottsdale
San Francisco-based Scottsdale Sport & Classic Motorcar LLC purchased a 14.2k sf, freestanding showroom building in Scottsdale, AZ, for $2.25 mil ($158/sf). The building is located at 7671 East Acoma Dr, within the Scottsdale...
| Commercial Real Estate Financing Briefs
CBRE CAPITAL MARKETS - Mark McGovern, Scott Peterson and Brian Cruz with CBRE Capital Markets’ Debt & Structured Finance team have arranged a $23.9 mil loan through CapitalSource for the acquisition of Camelback Arboleda, a 2...
| Phoenix Distribution Facility Sells for $98 Mil
Buckeye Logistics Center, a 1 msf distribution center in Phoenix, was acquired by an unnamed, international buyer for $98.3 mil. The property was sold by a partnership between The Koll Company and Seera Investment Bank B.S.C....
| TruAmerica Multifamily Makes $77 Mil Investment in Two Las Vegas Apartment Communities
TruAmerica Multifamily has acquired two apartment communities totaling 504 units in Las Vegas for $77.2 mil ($153.2k/unit). With these latest acquisitions - Crossing at Green Valley and The Retreat - TruAmerica’s local portf...
| Tucson Res Community Sells for $60/Unit
Mission Creek Apartments, a 200-unit, garden-style multifamily property in Tucson, AZ, sold for $12 mil, or $60k/unit. Built in 1987, Mission Creek Apartments is located at 1451 West Ajo Way, just west of I-19 at the confluen...
| Colorado Resort to Make Capital Improvements after Securing $13.5 Mil in Financing
HFF arranged $13.5 mil in financing for The Sebastian – Vail, a full-service boutique hotel and private residence club located within Vail Village in Vail, CO. Proceeds of the loan will be used for additional capital improve...
| Westland Real Estate Group Acquires Over 1,100 Res Units in Las Vegas
California-based Westland Real Estate Group has purchased a two-property multifamily portfolio totaling 1,129 units in Las Vegas for $60.3 mil ($53.4k/unit) transaction. The properties are Liberty Village Apartments, located ...
| Master-Planned, Mixed-Use AZ Development to Move Forward with $105 Mil in Financing
George Smith Parters (GSP) has arranged $105.5 mil in financing for a portion of The Watermark Tempe, a master-planned, mixed-use ground-up development situated on Tempe Town Lake in Tempe, AZ. The property, located at 430 No...
| AZ Multifamily Community Trades in $62 Mil Deal
The District at Mountain Vista, a 384-unit multifamily community in Mesa, AZ, was acquired by South 105th AZ Partners LLC, an entity formed by Atlanta-based Cortland Partners, in a $62 mil transaction. The asset ws sold by At...
| Fenway Capital Advisors Acquires 179k sf Office Building in Phoenix
Camelback Arboleda, a 178.8k sf, four-story office building in Phoenix’s prestigious Camelback Corridor, sold for $25.3 mil, or $141/sf. The asset, located at 1661 E Camelback Rd, was acquired by Solana Beach, CA-based Fenway...
| Bixby Land Company Spends $60 Mil on Industrial Assets in Phoenix and West Sacramento
Bixby Land Company recently acquired two Class A industrial properties totaling 723k sf for $60.5 mil ($84/sf). The properties are located in Phoenix, AZ and West Sacramento, CA.
In Phoenix, Bixby purchased a 335.5k sf, Clas...
| Ground Lease for TX Chick-fil-A Sells for $732/sf
A SoCal-based exchange investor paid $3.5 mil for the ground lease purchase of a newly developed, freestanding, 4.8k sf property in Dallas occupied by Chick-fil-A. The quick-serve restaurant opened its doors in 2017 and has a...
| Avison Young Launches Project Management Practice Group in Arizona
Avison Young has launched a new project management practice group in Arizona. Effective immediately, George Rubelsky becomes a Senior Project Manager based in the company’s Phoenix office. He will lead and grow the team in Gr...
| Beachwold Residential Buys 130-Unit Apartment Complex in Downtown Fort Worth
Beachwold Residential has acquired 250 Lancaster, a 130-unit apartment complex with ground-floor retail in Downtown Fort Worth. The Class A complex was completed in 2017.
The asset is located near Fort Worth Water Gardens, F...
| Scottsdale Office Asset Trades for $4.6 Mil
Los Angeles-based MFRG-ICON Construction purchased Palo Cristi II, a 30.3k sf office building in Scottsdale, AZ, for $4.6 mil ($152/sf). The property is located at 15721 North Greenway-Hayden Loop, within Scottsdale Airpark. ...
| Dunbar Real Estate Investment Management Buys 103k sf Phoenix Industrial Asset
Los Angeles-based Dunbar Real Estate Investment Management has purchased Tiger Industrial, a 103.5k sf ($61/sf) industrial property in Phoenix for $6.33 mil. The property is located at 4901-4929 W. Van Buren St, just south of...
| Fully Leased Houston Industrial Asset Trades Hands
A 447.6k sf industrial property in Houston was acquired by a family investment entity involved in a 1031 exchange. The property, located at 13770 Industrial Rd, was sold by Houston-based Hines.
The asset consists of nine bui...
| PCCP LLC, Greenfield Partners, Alberta Development and The Fellows Companies Buy 620-Acre Dev Site in Aurora, CO
A joint venture of PCCP LLC, Greenfield Partners, Alberta Development and The Fellows Companies has acquired a 620-acre, fully entitled residential and commercial development site in Aurora, CO, in the Denver metropolitan are...