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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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• Johnson Capital Arranges $5 Mil on Phoenix Retail Center
6/11/13
Don Burnes, Senior Vice President in Johnson Capital’s Phoenix office, has originated a $5 mil loan secured by a 99k sf shopping center in Phoenix, AZ. The property, named Union Plaza, is anchored by Fry’s and is located at 1...
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• BH Properties Wraps Up another Phoenix Apartment Buy
6/07/13
LA-based BH Properties recently closed on another AZ multifamily buy, paying $5.6 mil for the Avalon Hills Condominiums, a 205-unit property in Phoenix. Built in 1986, the resort-style community is located at 3535 West Tierra...
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• Griffin Capital Corp Completes $32 Mil AZ R&D Buy
6/05/13
Griffin Capital Corporation closed on the purchase of a 231.4k sf, Class A, flex R&D facility located in Chandler, AZ for $32.5 mil, which works out to about $140/sf. The property, acquired on behalf of Griffin Capital Essent...
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• Michelle Weber Promoted to Regional VP at RiverRock Real Estate
6/04/13
Michelle Weber has been promoted to Regional Vice President in the Phoenix office of RiverRock Real Estate Group, a West Coast-based commercial real estate management and leasing firm. Weber previously served as Regional Mana...
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• Vestar Obtains $48 Mil Loan for AZ Power Center
5/30/13
Vestar has secured a seven-year, $48.4 mil refi loan for Oro Valley Marketplace, a 521k sf power center located at the southwest corner of Tangerine Rd and Oracle Rd in Oro Valley, AZ. The loan was provided by Massachusetts M...
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• Beech Street Capital Closes $30 Mil Loan on 463-Pad Manufactured Housing Community in Santa Fe
5/24/13
Beech Street Capital LLC closed a $30 mil Fannie Mae DUS loan to refinance Cottonwood Village, a 463-pad manufactured housing community in Santa Fe, New Mexico. Proceeds from the loan allowed the borrower, Cottonwood MS LLC,...
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• Tucson Single-Tenant Building Sells for $329/sf
5/23/13
Beccaria Partners has purchased a 25.7k sf building in Tucson, AZ occupied by a Children’s Learning Adventure store for $8.45 mil ($329/sf). There is a new 20-year, NNN lease for the property from Children’s Learning Adventur...
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• Las Vegas Office, Industrial and Retail Markets Seeing Pickup in Activity
5/14/13
Las Vegas is seeing a drop in vacancy rates and an increase in leasing activity in most areas, signifying a sense of cautious optimism for the city’s commercial real estate market overall in the first quarter of this year. Th...
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• BH Properties Completes It 8th AZ Multifamily Buy in Two Years
5/10/13
BH Properties has purchased the Terrace Park Apartments, a 214-unit multifamily property in Phoenix, for $6.2 mil ($29k/unit). Located at 8130 W. Indian School Rd, the 214-unit property was built in 1984 and is currently 94 p...
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• Vestar Refinances 686k sf AZ Power Center
5/09/13
Vestar has obtained a seven-year permanent loan totaling $63.5 mil for the refinancing of Queen Creek Marketplace, a 686k sf power center located at the Southwest corner of Ellsworth Loop Rd and Rittenhouse Rd in Queen Creek,...
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• Holland Partners Completes $25 Mil AZ Apartment Buy
5/08/13
In a large AZ multifamily acquisition, Holland Partners has purchased The Bellagio, a 202-unit apartment community in Scottsdale, for $25.8 mil ($11.5k/unit). The property, located at 5635 E. Bell Rd, at the corner with N 56t...
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• Stoltz Real Estate Partners Spends $50 Mil on Large Vegas Retail Center Buy
5/07/13
Stoltz Real Estate Partners has purchased the majority of Deer Springs Town Center Shopping Center, a 512.3k sf community shopping center in Las Vegas, for $50.5 mil. The acquisition included 369.2k sf of the center’s total s...
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• Kennedy Wilson Closes $62 Mil Apartment Buy in Salt Lake City
5/02/13
LA-based Kennedy Wilson recently closed on another large, institutional multifamily buy. In this latest deal, the company acquired Foothill Place, a 450-unit apartment community in Salt Lake City, Utah, for $61.8 mil, or abou...
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• $40 Mil AZ Mobile Home Park Hits the Market
5/02/13
Here’s an interesting Arizona listing to hit the market, as Pine Lakes Mobile Estates, a 315-space, age-restricted manufactured home community in Prescott, has come on the market with an asking price of $39.75 mil. That works...
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• CBRE Group Arranges FHA Refi of CO Apartment Community
4/25/13
CBRE Group Inc (CBRE), through its direct HUD FHA lender, CBRE HMF Inc (CBRE HMF), has completed a refi for Canyon Point Cottages, a market-rate and affordable apartment project located in Golden, CO. The loan was funded thro...
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• Newmark Realty Capital Arranges $59 Mil for Vegas Retail Center
4/18/13
Newmark Realty Capital has completed a $59 mil CMBS financing for a major destination retail center in Southwest Las Vegas. The property, Blue Diamond Crossing, is a 530k sf community shopping center anchored by Kohl’s and T...
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