Finance & RE Law Archives

Colliers completes $1.9M sale/leaseback for Arrowhead Health Centers in Surprise

Arrowhead Health Centers, Colliers, WEB

Colliers International in Greater Phoenix recently completed a sale/leaseback transaction for Arrowhead Health Centers’ location in Surprise for $1.9 million, or $309 per square foot. A buyer from Brooklyn, New York, purchased the property, 17061 N. Avenue of the Arts, suite 100, from Scottsdale Office Properties (formed by Arrowhead Health Centers). Marc Bonilla, vice president… Read More →

Cresa executes disposition and new lease for 3M Company

Tenant representation firm Cresa announced that it had executed the disposition of a 270,890 SF building and 42 acres of land for $31.91 million in Ontario, Calif., for 3M Company. As part of the transaction, Cresa Phoenix negotiated a 10-year lease on a 454,877 SF distribution facility to be constructed on a vacant parcel nearby.… Read More →

North Pointe business park in Utah refinanced by Churchill Commercial Capital

Northsight, WEB

Churchill Commercial Capital, Inc. has arranged a $36.50 million first mortgage and $4 million mezzanine loan secured by the 100 percent leased North Pointe Business Park Buildings C, D and E in American Fork, Utah. In addition to the debt, replacement equity for the ownership was arranged by Churchill. The loans were funded by a… Read More →

Meridian Capital finances $20.5M in multifamily properties

201 West Apartments - Meridian Capital Group

Meridian Capital Group, LLC, a commercial real estate finance and advisory firm, negotiated a $20.5M loan to fund the purchase of two multifamily properties located in Tempe, Ariz., on behalf of Gelt. The ten-year loan features a competitive fixed-rate below 4.00% for the initial five years and was provided by a correspondent east coast balance… Read More →

Legacy Capital finances 160-unit multi-housing property in Tucson

Posada Del Rio

Legacy Capital Advisors, Phoenix, recently financed the sale of Posada Del Rio, a 160-unit multifamily property located in Tucson, Ariz. The building is approximately 99,280 square feet and was built in 1980. The property was sold to Radium Investments I, LLC (an entity formed by Jim and Kevin Szymanski of James Associates Management Equity Services,… Read More →

ROIs on commercial properties see some uncertainty

roi

Asking about a solid investment is a loaded question, says Certified Commercial Investment Member (CCIM) Jason Eisenberg, vice president of development and acquisitions for the Eisenberg Company. Commercial real estate investment returns are expected to remain steady through year-end, according to a forecast released by Real Estate Research Corp. Deloitte and the National Association of… Read More →

Seeing green: Bank roles shift in real estate market

phx-skyline

Phoenix is a city of extremes, but lenders will see some balance in the market this year. There’s more capital flowing through the system than there was a year ago and, despite a slow recovery, Phoenix investors should find it easier to get loans in the market. “This is an exceptional time to acquire financing… Read More →

Walker & Dunlop finances $107M in Arizona properties

Brookwood Apartment Homes in Tucson, Ariz.

Walker & Dunlop, Inc. announced that it recently provided $107,130,323 for multifamily properties in Arizona. Brandon Harrington and Matt Steffen led the team that structured the $5.1M loan for Casa Maribela, a 191-unit fractured condominium building in Phoenix. The W&D team structured and closed the 5-year non-recourse CMBS loan 30 days after receiving the signed… Read More →

Shadow Mountain apartments sell for $27.2M

Crestone 2, CBRE, WEB

CBRE’s Capital Markets group announced today that it has secured financing on behalf of Real Estate Capital Partners (“RECP”) for the financing of Crestone at Shadow Mountain Apartments (“Crestone”). Brian Eisendrath with CBRE’s Debt and Structured Finance team arranged a 5-year, full term interest only fixed rate loan of $16,811,000 (60% LTC), which was locked… Read More →

NorthMarq finances $13.74M acquisition in Mesa

waterstone

Luke Donahue, senior director of NorthMarq Capital’s Phoenix office funded the $13,744,000 acquisition loan of Waterstone Apartments, a 269 unit multifamily property located in Mesa, AZ. The transaction was funded by NorthMarq’s through their FHLMC seller/servicer platform. “NorthMarq was pleased to have the opportunity to fund another loan for this good repeat client of our… Read More →

Artemis Realty Capital reports recent transactions

Artemis Realty Capital, WEB

Artemis Realty Capital, a regional private equity investment firm specializing in short-term real estate debt, mezzanine debt and preferred equity, has reported the following transactions of capital funds: •   $8M – Acquisition loan for a 177-unit fully rented mobile home park community in Williston, North Dakota. •    $1.5M – Financing for multifamily portfolio in Phoenix,… Read More →

Kevin DiDomenico Joins Silver Fern Companies

Kevin DiDomenico, WEB

Silver Fern Companies has recently hired Kevin DiDomenico as project accountant. DiDomenico has a background in nonprofit management and commercial real estate. As project accountant, he works with clients to maintain a record-keeping system and track change orders, contracts and paperwork. “His accounting and management experience and passion for increasing efficiency has helped Silver Fern… Read More →

Enterprise Bank Expands Arizona Commerical Real Estate Group

Joe Bleyle, WEB

Enterprise Bank & Trust, the banking subsidiary of Enterprise Financial Services Corp announced that Joe Bleyle has been named senior vice president and director of commercial real estate lending for the Arizona region. Bleyle will lead an expanded effort to provide commercial real estate financing for mid-sized Arizona businesses, developers and investors. Bleyle was formerly… Read More →

NorthMarq Funds $16.64M Acquisition Financing for Clocktower Apartments

Clocktower, NorthMarq
January 7, 2014 by in Finance & RE Law

Luke Donahue, senior vice president/senior director and John Kinser, vice president of NorthMarq’s Phoenix regional office provided acquisition financing of $16.64M for Clocktower Apartments, a 195-unit multi-family apartment complex located 11600 SW 147th Terrace in Beaverton, Ore. NorthMarq Capital funded this financing for the borrower through its FHLMC seller/servicer platform. “NorthMarq financed the adjacent property… Read More →