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• Bascom Spends $22 Mil on Its 11th AZ Multifamily Buy Over the Past Year
7/19/13
Bascom Arizona Ventures has completed another AZ acquisition, paying $22.385 mil in an off-market deal for The Terraces at Glassford Hill Apartments, a 226-unit ($99k/unit) luxury community in Prescott Valley. The property is...
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• MIG Real Estate Completes $13 Mil Vegas Office Buy
7/18/13
According to Rockwood Real Estate Advisors, this submarket recorded the highest average asking rate, the greatest net absorption and the second lowest vacancy rate in the Las Vegas office market during the fourth quarter of 2...
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• BH Properties Adds to Its AZ Multifamily Portfolio
7/18/13
LA–based BH Properties just completed a large AZ multifamily buy, acquiring Vista Ventana, a 275-unit property in Phoenix. The property is located at 3221 W. El Camino Dr. The price was not disclosed.
Because the firm owns t...
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• ViaWest Group and Contrarian Capital Management Acquire 321k sf AZ Biz Campus
7/16/13
ViaWest Group and joint-venture partner Contrarian Capital Management LLC have acquired Warner Business Center through a credit bid at the trustee sale. The joint venture had purchased the debt and completed the foreclosure p...
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• Fred Tuomi Joins Colony American Homes as Chief Operating Officer
7/12/13
Fred Tuomi has joined Colony American Homes (“CAH”) as Chief Operating Officer. Tuomi will be responsible for leading the company’s operations with a particular focus on renovations, property management and leasing, and inf...
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• Matt Gustafson Joins Johnson Capital as VP
7/11/13
Matt Gustafson has joined Johnson Capital as Vice President in the company’s Denver office. He specializes in the origination of FHA/HUD financing for multi-family and healthcare properties. Matt joins the team with nearly a...
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• Berkeley Capital Provides $32 Mil Loan for 420-Unit CO Apartment Buy
7/11/13
Berkeley Point Capital LLC recently closed a $31.6 mil loan on behalf of Kennedy Wilson for the acquisition of Sommerset Gardens, a 420-unit garden-style, Class B apartment community located in Aurora, CO. The financing was...
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• Western National and Norwood Development Group to Partner on Fourth Multifamily Project in Colorado Springs
7/09/13
Western National Group and Nor’wood Development Group have teamed up for their fourth joint venture multifamily project in Colorado Springs. The project will contain 250 to 300 units and will be located within the “InterQues...
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• JCR Capital Provides $22 Mil on Multifamily Portfolio
7/05/13
Denver-based JCR Capital provided $22 mil in mezz financing on a portfolio of 16 multifamily properties on the west coast totaling 3,315 units. The loan was financed as part of JCR's $100 mil investment fund "JCR Com...
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• Berkshire Property Advisors Buys 280-Unit Res Property in Colorado
7/01/13
Berkshire Property Advisors has purchased Alta Aspen Grove, a 280-unit luxury garden-style apartment community in Littleton, CO. The property, located on 17.5 acres at 7317 South Platte River Pkwy, was sold by Wood Partners L...
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• $5 Mil in Sales for Three 7-Eleven Locations
6/27/13
Three single-tenant 7-Eleven stores -- in Upland and Anaheim, CA and Denver, CO – traded hands in recent deals totaling over $5 mil.
In Upland, a 3k sf 7-Eleven located at 2416 W. Arrow Rd sold for $1.9 mil ($633/sf). Built ...
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• 328-Unit AZ Res Project Breaks Ground
6/25/13
Lennar Multifamily and Resmark Apartment Living recently broke ground on a 328-unit apartment project in Tempe, AZ. The development is set on 5.72 acres south of the Tempe Center for the Arts on Rio Salado Pkwy, adjacent to T...
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• Special Districts Managements Services Renews in Lakewood, CO
6/21/13
Special Districts Managements Services Inc. has signed a four-year lease renewal for 7.6k sf of office space at 141 Union Blvd in Lakewood, CO. The building is owned by Westcore Properties.
The 141 Union building totals 63....
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• Crowne Plaza Hotel in Colorado Springs Changes Hands
6/21/13
The Crowne Plaza Hotel, a 500-room hotel located in Colorado Springs, CO, was acquired by 513 Hotels, LTD for an undisclosed amount. The property, located at Exit 138 of Interstate-25, just south of downtown, was sold by Davi...
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• Bascom Acquires 432-Unit Multifamily Asset in Phoenix
6/19/13
Bascom Arizona Ventures purchased Arcadia Cove Apartments, a 432-unit luxury community located at 2252 North 44th St in Phoenix, AZ, for $40.7 mil ($94k/unit). Arcadia Cove is the 10th acquisition that the company has comple...
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• CBRE Hotels/Finance Arranges $88 Mil on Phoenix Resort
6/19/13
Grossman Company Properties has obtained $88 mil in non-recourse financing for the 740-key, all-suite Arizona Grand Resort located in Phoenix, AZ. Built in 1987 and following a comprehensive $66 mil renovation and expansion ...
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• Southwest Phoenix Industrial Project Goes for Over $44 Mil
6/18/13
IIT Acquisitions LLC has acquired Buckeye Logistics Center, a 684k sf, two-building institutional-quality industrial project in the Southwest Phoenix submarket. The asset, which fetched $44.3 mil ($65/sf), was sold by Princip...
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• New 89k sf Facility will Raise Drawbridge’s Salt Lake City Biz Campus to Over 1 msf
6/17/13
In notable development news out of Salt Lake City, UT, Drawbridge Realty Trust LLC has begun construction of an 88.5k sf, two-story office and research facility at Airport Technology Park, a 90-acre biz campus the company has...
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• 308-Unit TX Res Development Funded with $6 Mil in Equity and Mezz Debt Money
6/13/13
Jason Pumpelly, Managing Director in Johnson Capital’s Dallas office, has arranged a $6 mil equity and mezzanine debt raise on behalf of DLC Residential. The money will be used for the development of a 308-unit Class A multif...
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• Berkeley Capital Refis 400-Unit Denver Multifamily Community
6/11/13
Berkeley Point Capital LLC recently provided $64.35 mil in combined financing for the refinance of an urban in-fill apartment community located in Denver, CO. The property was built in two phases – a 266-unit high-rise, Class...
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