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TruAmerica Multifamily, Berkshire Group Pay $35M for Avenue 25 Apartments in Phoenix; Security Properties Buys Mesa M-F Asset

TruAmerica Multifamily, Berkshire Group Pay $35M for Avenue 25 Apartments in Phoenix; Security Properties Buys Mesa M-F Asset

TruAmerica Multifamily and an affiliate of Berkshire Group, The Guardian Life Insurance Co. of America, recently announced the $35.4 million acquisition of Avenue 25 Apartments in Phoenix. The off market transaction was supported by a $24.78 million pre-stabilization debt financing provided by Capital One Commercial Bank.…

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Consolidated Investment Group Buys Student Housing Property in Tempe for $38.7M

Consolidated Investment Group Buys Student Housing Property in Tempe for $38.7M

Denver-based Consolidated Investment Group (CIG) recently announced the $38.7 million acquisition and refurbishment plan of a 225-unit, 640-bedroom student housing property located near Arizona State University in Tempe. Renamed Regents on University, the property formerly known as Block 1949 will be reconditioned before the beginning of the new school year.…

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Buchanan Street Buys Stapley Corporate Center in Mesa for $33M

Buchanan Street Buys Stapley Corporate Center in Mesa for $33M

Buchanan Street Partners recently acquired the Stapley Corporate Center, a two-building, Class A office property. Located at 1840 and 1910 South Staple Drive in Mesa, the center was purchased for $32.5 million from The DESCO Group, Inc., the original developer of the center.…

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Glendale Office Complex Trades for $9M; Pacific Realty Advisors Plans Industrial Project in Mesa

Glendale Office Complex Trades for $9M; Pacific Realty Advisors Plans Industrial Project in Mesa

Cassidy Turley recently announced that Select Healthcare Solutions, LLC, Phoenix Cyberknife and Radiation Oncology Center, LLC have acquired Zanjero Falls for $9.1 million, a 147,405 square foot office property situated at 7410 N. Zanjero Boulevard in Glendale.…

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UMOM Details Plans for Affordable Housing Project in Sunnyslope

UMOM Details Plans for Affordable Housing Project in Sunnyslope

A new affordable housing project is coming to Phoenix through the initiative of UMOM and through the financial support of the Arizona Department of Housing (ADOH) and The Bob & Renee Parsons Foundation.…

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Equus Capital Partners Takes 2 Scottsdale Office Buildings for $44M

Equus Capital Partners Takes 2 Scottsdale Office Buildings for $44M

By Liviu Oltean, Associate Editor Equus Capital Partners, Ltd. recently expanded  its Scottsdale footprint with the $44.1 million acquisition of two Class A office properties for $44.14 million,  92 Mountain View and Scottsdale Gateway I.  Totaling 223,131 square feet of space, the two-story buildings had a 96 percent occupancy rate…

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Habitat Metro, Sunbelt Holdings to Break Ground on $75M Downtown Condo Project

Habitat Metro, Sunbelt Holdings to Break Ground on $75M Downtown Condo Project

Habitat Metro, in a joint venture with Scottsdale-based Sunbelt Holdings, plans to break ground by the end of the year on Portland Park, a 170-unit mixed-use development.…

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March 2015 Debut Planned for 180-Key Sheraton Next to Cubs Complex in Mesa

March 2015 Debut Planned for 180-Key Sheraton Next to Cubs Complex in Mesa

Starwood Hotels & Resorts Worldwide, Inc. announced its Sheraton brand will open a new-build hotel in Mesa, immediately adjacent to Chicago Cubs' new spring training ballpark.…

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KBS Acquires Camelback Corridor Office Complex for $85M

KBS Acquires Camelback Corridor Office Complex for $85M

In an $85.1 million deal, KBS Real Estate Investment Trust III of Newport Beach, Calif., has acquired Anchor Centre, a 333,284-square-foot office development in Phoenix’s Camelback Corridor submarket.…

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Bob Parsons Entity Acquires Infill M-U Property in Tempe for $26.5M

Bob Parsons Entity Acquires Infill M-U Property in Tempe for $26.5M

Mill Avenue Office L.L.C., an entity owned by GoDaddy founder Bob Parsons, has acquired Hayden Station, a 107,508-square-foot office and retail development in Tempe, for $26.5 million (or $246.49 per square foot). The seller was Holualoa Cos. of Tucson.…

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Standard Pacific Launches New Community in Phoenix; Broadstone Camelback Awarded LEED Platinum

Standard Pacific Launches New Community in Phoenix; Broadstone Camelback Awarded LEED Platinum

California homebuilder Standard Pacific Homes has officially launched its newest gated community in Phoenix.…

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Bela Flor Unveils 121-Unit Condo Development in Mesa

Bela Flor Unveils 121-Unit Condo Development in Mesa

Real estate development firm, Bela Flor Communities announced the opening of Villa Rialto, a 121-unit affordable luxury condominium development in Mesa.…

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