Tudor Scolca-Seușan is an Associate Editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. He is responsible for data center and industrial coverage on CPE, writing seasonal metro reports on multifamily, interviews and features, as well as occasionally editing news stories.
Baron Properties, Buchanan Street Sell $44M Phoenix Community
Vue Park West, which the joint venture acquired in 2014 for $30 million, is situated within the 250,000-square-foot Park West mixed-use development.
Rincon Partners Buys $22M Community in Phoenix
Previous ownership implemented a thorough renovation program in 2015. The asset traded at almost four times the original purchase price.
DIJ Properties Enters Arizona Market
The company plans to implement a large renovation program for the 1987-built community to unlock value for investors and improve the residents’ living conditions.
On the Market: 5 Interesting Listings for the Week of 4/30
This week’s listings include a newly renovated age-restricted community in Vegas and a turnkey asset in central Richmond, Va.
Drucker + Falk Manages $1M Renovation in Newport News, VA
Already finished renovations include a new clubhouse, overhauled swimming pool and new features to the outdoor areas. In-unit upgrades are currently underway.
IPA Facilitates $65M Phoenix-Area Transaction
Eaton Vance Investment Managers purchased the 303-unit Chandler property, which includes a volleyball court, two swimming pools and 458 parking spaces.
Tucson Value-Add Asset Changes Hands
Skyline Park Apartments is situated in a market which is experiencing a surge of value-add investments, largely due to limited new supply and continued population growth.
JPI Continues Dallas Investment
The company broke ground on a 409-unit luxury community, which will comprise approximately 300,000 square feet of office space and 22,000 square feet of retail.
Downtown Phoenix’s 2nd Tallest Residential Tower Underway
Parallel Capital Partners sold a one-acre parcel within Arizona Center to North American Development Group. The company intends to build there a $100 million, 30-story tower.
On the Market: 5 Interesting Listings for the Week of 4/16
This week’s listings include a new community in West Seattle, duplexes in Denton, Texas, and 188 units in Phoenix’s busy Camelback corridor.