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Mesa, AZ Apartment Community Trades for $30k/Unit 12/08/10 A Scottsdale, AZ-based investment entity has acquired Orange Grove, a 396-unit apartment community located at 111 North Gilbert in Mesa. The asset, which was sold by was Alliance Southwest LLC, an Arizona limited liability co...
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Tempe, AZ Development Parcel Listed for Sale 12/02/10 A 1.61-acre parcel of land on the southeast corner of College Ave and 5th St in Tempe, AZ has been listed for sale. The parcel is across the street from a City of Tempe light rail station and transit center, making it one of ...
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Voit Tappen into the Phoenix Market 12/01/10 Phoenix Metropolitan area commercial real estate broker Darren Tappen has joined Voit Real Estate Services to help boost the SoCal-based firm’s presence in the region. Tappen specializes in industrial, office and land acquisi...
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Cohen Financial Arranges Over $20 Mil for Two West Coast Deals 11/24/10 Real estate capital services firm Cohen Financial arranged a couple of interesting West Coast transactions, in Arizona and Washington, worth mentioning. In one of the deals, the company secured a $17.55 mil loan for the acqui...
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Investor Spends Over $7 Mil on Two Mesa Manufactured Home Communities 11/22/10 Two neighboring manufactured home communities in Mesa, AZ were acquired by a Tucson investment partnership for a combined price of $7.2 mil. The properties, Imperial Manufactured Housing Park and Broadmoor Manufactured Housin...
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HomeSmart Signs Smart Renewal/Expansion Deal for Its Phoenix Home 11/18/10 HomeSmart Holdings LLC, a residential real estate and mortgage company, signed a renewal/expansion lease for 13.7k sf of space in Phoenix. The transaction is at 3131 E. Camelback Rd, a 296.6k sf Class A office property that w...
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Colorado Investment Firm Acquires $40 Mil Loan on a Beaver Creek Ski Resort Condo Development 11/12/10 Louisville, CO-based Condo Capital Solutions purchased the $40 mil loan that had been in default for the five-star residential property in Beaver Creek known as Gates Residences. Located at the base of Beaver Creek resort in...
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Buchanan Street Partners Closes $8 Mil AZ Buy 11/12/10 Buchanan Street Partners has acquired Mountain Vista Commerce Center, a flex office/industrial park located at 14647 South 50th St in Phoenix, AZ. The three-building, 133k sf property fetched $7.8 mil, or about $59/sf.
Locat...
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Denver’s Griffis Group Obtains $50 Mil in Acq Financing for 376-Unit CO Asset 11/04/10 Griffis Group has obtained $50 mil in financing for the acquisition of Terracina Villas, a 376-unit newly built Class A apartment property in Broomfield, CO. The new loan was provided by PCCP LLC, which worked closely with G...
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Regionwide Rundown of Multifamily Deals 10/28/10 For those in need of more news of closed multifamily sales, here’s information on five closed transactions from a few weeks ago, which we haven’t reported about yet, covering properties from Burlingame to Glendale AZ.
Starti...
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$7.8 Million Takes 134K SF Mountain Vista Commerce Center in Phoenix 10/27/10 Active Orange County real estate investor Buchanan Street Partners paid $7.8 mil for Mountain Vista Commerce Center, at 14647 S. 50 th St. in Phoenix. The price for the 133.6k sf multi-tenant flex industrial property works ou...
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Johnson Capital Arranges $23.6 Mil for Multi-State Portfolio of GSA Office Ground Leases 10/25/10 In one of the more interesting financing transactions this year, Johnson Capital’s Michael Cantwell, Managing Director of its Denver office, arranged $23,645,000 in financing for the owner of a multi-state portfolio of ground...
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Commercial Real Estate Financing Briefs 10/25/10 In recent financing news, KeyBank Real Estate Capital provided $39.4 mil in Fannie Mae funding to Golden West Properties. The funds represent the refinancing of a construction loan, also provided by KeyBank Real Estate Capita...
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OC Buyer Spends $4.8 Mil on Nevada Biz Park 9/17/10 An OC-based investment entity has purchased Sunset Pointe Industrial Center, a 104k sf business park in Henderson, NV, for $4.8 mil ($46/sf). Located at 505-585 W. Sunset Rd, midway between I-515 and Builder Hwy, the property...
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Faris Lee Expands in Phoenix and Las Vegas 9/15/10 OC-based Faris Lee Investments, the big retail-specialized investment sales and advisory firm, is boosting its national presence with the hiring of leading industry producers and the addition of new offices in key markets whe...
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CBRE Arranges $35 Mil on Upscale AZ Apartment Community 9/13/10 CB Richard Ellis has arranged $35.2 mil in financing for San Cervantes Apartments, a 376-unit garden-style apartment community in Chandler, AZ. Located at 400 North Coronado St, near the 1 msf Chandler Fashion Center, San Ce...
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NewMark Merrill Closes 165k sf CO Retail Buy 9/02/10 NewMark Merrill Mountain States closed on a notable retail acquisition in Colorado, having paid $3.35 mil for Arvada Marketplace East, a 164.6k sf shopping center located at the northeast quadrant of I-70 and Wadsworth Blvd i...
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Johnson Capital Arranges $9.3 Mil Line of Credit on Phoenix Office Property 8/30/10 Johnson Capital recently arranged a $9.3 mil line of credit for the owner of a 190k sf, Class A, multi-tenant office complex. The financing, which is secured by a first lien on the property, is noteworthy because the six-year...
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Partnership Acquires Aspen Site for $15 Mil 8/26/10 Alcion Ventures, in conjunction with Golub & Company of Chicago and Aspen-based operating partner, Bald Mountain, has purchased a 2.4-acre parcel of land in Aspen, CO for $15 mil. The acquisition of the land site, on South As...
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AZ Court Allows Trigild to Sell Former Bethany Group Properties to Standard Portfolio 8/24/10 In a major legal case that opens the door for substantial boosts in commercial real estate loan recovery for lenders, the Arizona Superior Court has issued a ruling enabling San Diego-based receivership and loan recovery firm...
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