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AZ Industrial Property Trades for $16 Mil 10/18/18 Bay Capital LLC, out of Braintree, MA, closed on an AZ industrial buy, paying $16 mil for Iridium @ Price Road Corridor, a 69.8k sf ($229/sf) building in Chandler. The property was sold by Los Angeles-based Cohen Asset Manage...
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Sterling Organization Pays over $15 Mil for 99k sf Shopping Center in Phoenix 10/12/18 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...
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Tower 16 Capital Partners Buys 540-Unit Res Community in Vegas 10/11/18 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...
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Scottsdale Sport & Classic Motorcar LLC Buys Showroom Facility in Scottsdale 10/09/18 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...
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Commercial Real Estate Financing Briefs 10/08/18 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...
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Phoenix Distribution Facility Sells for $98 Mil 10/05/18 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....
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TruAmerica Multifamily Makes $77 Mil Investment in Two Las Vegas Apartment Communities 10/05/18 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...
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Tucson Res Community Sells for $60/Unit 10/04/18 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...
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Colorado Resort to Make Capital Improvements after Securing $13.5 Mil in Financing 10/04/18 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...
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Westland Real Estate Group Acquires Over 1,100 Res Units in Las Vegas 10/02/18 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 ...
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Master-Planned, Mixed-Use AZ Development to Move Forward with $105 Mil in Financing 9/28/18 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...
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AZ Multifamily Community Trades in $62 Mil Deal 9/27/18 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...
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Fenway Capital Advisors Acquires 179k sf Office Building in Phoenix 9/25/18 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...
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Bixby Land Company Spends $60 Mil on Industrial Assets in Phoenix and West Sacramento 9/24/18 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...
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Ground Lease for TX Chick-fil-A Sells for $732/sf 9/20/18 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...
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Avison Young Launches Project Management Practice Group in Arizona 9/19/18 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...
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Beachwold Residential Buys 130-Unit Apartment Complex in Downtown Fort Worth 9/19/18 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...
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Scottsdale Office Asset Trades for $4.6 Mil 9/18/18 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. ...
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Dunbar Real Estate Investment Management Buys 103k sf Phoenix Industrial Asset 9/17/18 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...
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Fully Leased Houston Industrial Asset Trades Hands 9/17/18 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...
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