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• Phoenix Class A Office Direct Asking Rates Rise Even as Demand Slows
7/14/23
This report was provided by real estate services firm Avison Young
Though demand for office space has dropped post-Covid with companies wrestling with the amount of space needed, Class A direct asking rates have continued to...
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• The Premiere Residential Closes $140 Mil AZ Res Buy
7/14/23
The Premiere Residential closed on its first Phoenix area acquisition in 16 years, paying $140 mil for Soltra at SanTan Village, a newly built, 380-unit ($368.4k/unit) community in Gilbert, AZ.
Located at 1690 South San Tan ...
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• Phoenix Multifamily Community Sells for $37 Mil
7/13/23
Clarendon Park, a 138-unit multifamily community in Phoenix, sold for $37 mil, or $268k/unit. The buyer was WhiteHaven, a Phoenix-based private equity firm.
Clarendon Park features a mix of one- and two-bedroom apartment hom...
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• Ivy Realty Buys Denver Creative Redevelopment Project
7/13/23
Connecticut-based Ivy Realty has acquired Junction 23, an 86.1k sf, creative redevelopment in the heart of Denver’s River North (RiNo) District, for $26.35 mil ($306/sf). The project was sold by EverWest Real Estate Investors...
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• Tempe, AZ Office Building Gets Traded
7/12/23
A 94.9k sf, freestanding flex office building in Tempe, AZ traded hands in a recent deal. Located at 8160 S Hardy, the building is 69% leased to a single tenant, a financial services company.
Marcus Muirhead with Lee & Asso...
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• Empire Group Secures $88.5 Mil for Development of 354-Unit BTR project in Phoenix
7/11/23
Tower Capital has arranged $88.5 mil in construction financing for a Build-to-Rent (BTR) community in the Phoenix market. The financing is for Village at Bronco Trail, a 354-unit project planned for development by Scottsdale-...
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• L.A. Investor Buys New Mexico Single-Tenant Raising Cane’s Property
7/11/23
An L.A.-based private investor purchased a brand-new construction, single-tenant property occupied by a Raising Cane’s Chicken Fingers Drive-Thru restaurant in Albuquerque, NM. The sale was for an absolute, triple-net 15-year...
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• Commercial Real Estate Financing Briefs
7/07/23
BANDON CAPITAL ADVISORS - Bryan Kenny with Bandon Capital Advisors arranged an $11.5 mil refi loan for a 3.11-acre covered-land industrial site with space for Industrial Outdoor Storage (IOS) in Costa Mesa, and secured $5 mi...
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• Here’s a Quick Update on Two Hotel Financing Deals Worth Over $40 Mil
7/05/23
In recent hotel financing news, Tucson-based Khangura Development has obtained a $19.1 mil bridge loan for the Residence Inn by Marriott Phoenix Mesa East. The loan was provided by Dallas-based HALL Structured Finance.
Each ...
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• 330-Unit AZ Multifamily Community Trades Hands
7/05/23
The Aston Scottsdale, a 330-unit property in Scottsdale, AZ, was acquired by The Connor Group for an undisclosed amount. The luxury property, located at 8688 East Raintree Dr, was sold by Wood Partners.
Previously known as A...
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• Stevens-Leinweber Construction Pays $3.8 Mil for Phoenix Office Building
6/30/23
An entity formed by Stevens-Leinweber Construction President Jamie Godwin has purchased a two-story office building within metro Phoenix’s Camelback Corridor area, earmarking the multi-tenant property for a substantial renova...
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• SoCal Investor Exchanges into TX Retail Property for $6.3 mil
6/29/23
A SoCal-based private investor paid $6.3 mil for a 4.8k sf ($1,312/sf) retail property in New Braunfels, TX occupied by 7-Eleven with a Laredo Taco restaurant on-site as well. The property was sold by Prudent Development.
Bu...
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• NexGen Properties Buys 51k sf Office Building in Englewood, CO
6/29/23
NexGen Properties purchased a 51.5k sf boutique office building in Englewood, CO. The two-story, multi-tenant asset is located at 384 Inverness Pkwy, within Inverness Business Park.
Constructed in 1985 and extensively renova...
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• Gantry Arranges $30 Mil in Two Recent Apartment Financing Deals
6/28/23
Here’s news of a couple of apartment financing deals, both arranged by Gantry. The deals – an acquisition loan in Tempe, AZ and a refi in Auburn, WA -- total $29.8 mil.
The larger transaction was a $17.7 mil acquisition loan...
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• Kaiser Permanente Inks Extension Deal for 121k sf Space at Colorado Office Campus
6/28/23
Kaiser Permanente has inked an extension lease for its 121k sf of space at One & Two Greenwood Plaza, a Class A office campus in Englewood, CO. Kaiser serves as the anchor tenant of the two-building, 197.5k sf project, owned ...
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• Stockbridge Capital Group Buys 443k sf Industrial Complex in North Las Vegas
6/28/23
Stockbridge Capital Group purchased the recently completed Tropical Logistics Phase II. The facility was developed by a joint venture between CapRock and real estate funds managed by Ares Management.
Located within the Nor...
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• Phoenix Res Community trades in $29.5 Mil Deal
6/28/23
Avalon, a fully renovated, 117-unit multifamily community in Phoenix, was acquired by CS Large Cities Housing Fund LP in a $29.5 mil ($252k/unit) transaction. The property is located at 3851 N 28th St.
The property consists ...
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• Texas Industrial Facility Lands New Owner in $9 Mil Trade
6/26/23
A Texas-based investor purchased a two-building, 79.9k sf industrial facility in Laredo, TX for $9.15 mil ($115/sf). The property, located at 13806 N. Unitec Dr, was sold by Stos Partners, who acquired the asset in March 202...
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• Fifield Companies Spends $20 Mil on TX Development Opportunity
6/22/23
Chicago-based Fifield Companies paid $20 mil for 3515 Brown Street, a 1.6-acre property in the high-value submarket of Uptown/Turtle Creek in Dallas, TX. The 26-unit Wimbledon Place Condominiums property, built in 1973, is cu...
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• Kodiak Gas Services Leases 53k sf of TX Office Space
6/21/23
Kodiak Gas Services LLC inked a long-term lease for 53k sf of office space in The Woodlands, TX. The space is located at 9950 Woodloch Forest Tower, a Class AAA, 31-story office building that is one of two towers within The W...
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