| Vegas Multifamily Portfolio Trades in $137 Mil Deal
A three-community, 1,194-unit multifamily portfolio in Las Vegas traded hands in a $137.5 mil ($115.2k/unit) transaction. The assets were sold by Continental Realty Advisors Ltd (CRA) and San Francisco-based real estate inves...
| ViaWest Group Buys Industrial Portfolio in Phoenix’ Sky Harbor Submarket
ViaWest Group closed on the acquisition of an industrial portfolio comprised of both vacant, developable land and two existing buildings in the Phoenix Sky Harbor submarket. Ultimately, the combined projects will have over 65...
| AZ Res Property Trades for $30 Mil
Ridge View, a 150-unit luxury apartment community in Fountain Hills, AZ, was acquired by an entity formed by San Francisco-based FPA Multifamily LLC for $30.3 mil, or $202k/unit. The property was sold by San Francisco-based 2...
| Gindi Capital Pays $172 Mil for 9.5-Acre Site on the Las Vegas Strip
Gindi Capital has acquired a 9.5-acre property on the Las Vegas Strip for $172 mil. The site, is located at 3743-3759 Las Vegas Blvd, was sold by FX Luxury Las Vegas, an affiliate of Spectrum Group Management.
| Southwestern Property Corp Buys Former JC Penney in Phoenix
The property is located at 9617 N. Metro Pkwy just west of I-17 at Peoria Ave. Southwestern Property Corp plans to redevelop the site into a high-end self-storage and boat/RV storage facility, or entertainment uses.
| Park City, Utah Resort Set to Break Ground after Securing $165 Mil in Financing
Mosaic Real Estate Credit has provided Columbus Pacific with $165 mil in construction financing for Pendry Park City, a resort project in the Canyons Village area of Park City, Utah. Mosaic’s financing consists of a three-yea...
| AZ Medical Office Property Picked Up By Out of State Investor
Spectrum Medical Commons, a 43.4k sf medical office building in Gilbert, AZ, traded hands between two Wisconsin-based real estate firms in a $17.75 mil ($409/sf) transaction. The Class A property, located at 3367 S. Mercy Rd,...
| Exchange Investor Spends Over $900/sf for AZ Retail Asset
An 8.4k sf, multi-tenant retail property in Glendale, AZ sold for $7.6 mil, or $905/sf. Situated on 1.37 acres at 7870 W. Bell Rd, the asset is 100% leased by four tenants – The Habit Burger Grill, Tempur-Pedic, Pearle Vision...
| Fry’s Food & Drug-Anchored Retail Center in Arizona Trades Hands
Laveen Village Marketplace, a 39.8k sf retail center in Laveen, AZ, was acquired by an unnamed investor. The Fry’s Food & Drug-anchored center was sold by Houston-based Weingarten Realty Investors.
Laveen Village Marketplac...
| AZ Creative Office Campus Sells for $46 Mil
In a recent AZ office buy, Strategic Office Properties, a wholly owned subsidiary of TPG Real Estate, purchased The Circuit, a 185k sf, adaptive re-use office project in Tempe, for $46 mil ($249/sf). The property is located a...
| Cerberus Capital and Hines Buy the Tallest Building in Texas
Cerberus Capital and Hines have teamed up to purchase JPMorgan Chase Tower, a 75-story, 1.6 msf skyscraper in Houston and the tallest building in Texas, in a deal said to be worth over $625 mil. The acquisition includes Chase...
| Sterling Real Estate Partners Closes $20 Mil Res Buy in Phoenix
Sterling Real Estate Partners has acquired Villas de Azul Apartments, a 301-unit multifamily property in Phoenix, for $19.8 mil, or $66k/unit. Built in 1972, the property is located at 2627 N. 45th Ave, north of I-10 and wes...
| TX Retail Center Picked Up for $20 Mil Local Exchange Investor
Nooner Holdings Ltd, a private 1031 exchange investor based in Texas, purchased The Shops at Abilene Village, a 145k sf retail center in Abilene, TX, for $20.1 mil ($138/sf).
The Shops at Abilene Village is fully occupied a...
| Canadian Investment Entity Pays $25 Mil for Phoenix Multifamily Property
The Colony, a 236-unit res property in Phoenix, sold for $25.1 mil, or $106.4k/unit. The buyer was WREF Colony LP, an entity formed by Western Wealth Capital of North Vancouver B.C., Canada.
Built in 1979, The Colony is loca...
| Vestar Buys 165k sf AZ Retail Center
Vestar purchased University Plaza, a 165.6k sf shopping center located in the heart of Flagstaff, AZ. The property traded for $27.5 mil, or $166/sf.
University Plaza is ideally located across the street from Northern Arizona...
| BH Properties Buys Phoenix Industrial Asset
BH Properties acquired Riverpoint – Building 2, a 61.3k sf, multi-tenant flex office building in Phoenix, for $5 mil ($81.50/sf). The single-story building is located at 3100 E. Broadway.
Built in 2002, the recently vacated ...
| Phoenix Res Property Trades for $100k/Unit
Avenue 15 Apartments, a 148-unit apartment complex located at 1609 West Glendale Ave in Phoenix, has sold for $14.725 mil ($99.5k/unit). The buyer was Urban Communities, a real estate development and redevelopment company tha...
| The Bascom Group Teams Up with The Axton Group in $41 Mil CO Res Buy
The Bascom Group LLC have partnered with an affiliate of The Axton Group in the acquisition of Summer Grove Apartments and Tanglewood Apartment Homes, two adjacently located apartment communities in Colorado Springs, CO. The...
| Phoenix Industrial Property Trades in $8 Mil Deal
Exeter Property Group purchased a 123.8k sf industrial building in the Southwest submarket of Phoenix for $8.16 mil ($66/sf). The property was sold by David Turner International LLC.
The building is situated on a fully paved...
| Phoenix Office Campus Sells for $47.5 Mil
New York-based DRA Advisors LLC acquired Camelback Lakes, a 203.3k sf office property in Phoenix, for $47.5 mil ($234/sf). The four-building, multi-story complex is located at 2710, 2720, 2730, and 2850 E. Camelback Rd, in on...