Finance & RE Law Archives

NorthMarq negotiates $23M refinance of Foothills Park Place

foothills park place

James V. DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix based regional office arranged the $23 million refinance of Foothills Park Place, a 132,496 SF retail property located at on east Ray Road in Phoenix. The property is in a strategic location adjacent to the I-10 Freeway and at the highest trafficked intersection of… Read More →

The Long Road to Funding

gas

In December, the State Transportation Board took the next step in the process of funding Interstate 11 (I-11) and the Intermountain West Corridor Study. It approved $15M for the Tier 1 Environment Impact Statement, which would allow the Arizona Department of Transportation (ADOT) to conduct an environmental study between Nogales and Wickenburg. This will take… Read More →

Treble in paradise: Paying for music in public spaces

Trillium

Three performance rights organizations, or PROs, protect a majority of recording artists’ work from unauthorized use in public spaces. The two largest — ASCAP and BMI — are household names, but the smallest of the group, SESAC, is quickly becoming a well-known resident at multifamily properties. A third party working for SESAC has contacted multifamily… Read More →

Lending the way: A good buy is hard to find

In 2013, NorthMarq Capital arranged $10.1B in loans. In 2014, that number rose 20 percent to $12.6B, reports Managing Director James Dumars. That doesn’t mean the market isn’t competitive, notes DuMars, who locked in a low-leverage $25M loan at 3.64 percent for 10 years. He is also financing a $56M class-A shopping center purchase at… Read More →

Sweeping changes for contractor tax classifications

The Arizona construction industry is bracing for sweeping changes to the prime contracting tax law in January of 2015. The legislature has enacted changes that range from who must have a tax license to a major switch creating a difference between service and prime contracting. The Arizona Builders Alliance is working with the Department of… Read More →

Raising new taxes is not the answer for Arizona

ethics scale

Job recovery has been sluggish as it relates to commercial real estate. However, if the cranes near ASU are any indication, economic activity appears to be looking up. It’s also encouraging the U.S. Bureau of Labor Statistics revised upward the number of national non-farm jobs created in August and September and that job gains through… Read More →

A growing concern for a growing deficit

With the state facing a significant budget deficit for next fiscal year, the AIA Government Affairs committee members are growing concerned as to when or if we will ever see a fully restored HURF and other infrastructure investments. We believe investing in infrastructure is in part crucial to an economic recovery. Tied into this is… Read More →

BOMA Greater Phoenix´s ‘Call to Action´ week

ethics scale

Throughout the 52nd Arizona legislative session BOMA Phoenix closely monitored the bills that were introduced. Each year, its advocacy committee watches the legislative action for issues that affect the commercial real estate industry, but the best part of our endeavor is Advocacy Week (Feb. 16 to 20). During Advocacy Week, BOMA’s advocacy committee spent the better part… Read More →

Reading between the lines of process and progress

The members of Valley Partnership are optimistic that 2015 could finally bring the arrival of the elusive economic recovery that has yet to take hold in the Phoenix Metropolitan. The organization will be working on many fronts to foster a favorable environment for development and redevelopment to ensure process does not stand in the way… Read More →

Buchanan Street Partners closes $34.5M acquisition loan

Fountainhead

Buchanan Street Partners, a national real estate investment management firm, has structured $34.5 million in bridge financing for the acquisition of two Class A office buildings in Tempe, Arizona. Along with its active equity investment platform, the firm is growing its lending activity for mezzanine debt and bridge loans in primary markets in the Western… Read More →

Op-Ed: Can low interest rates harm Arizona market?

By Andrew Van Tuyle and Steve Jaffe, BH Properties There are times in your life when something wonderful drops in your lap – like an adorable Great Dane puppy on Christmas morning. The puppy is so cute that you fall in love immediately, and never think about how large that Great Dane will become or… Read More →

Karlin Real Estate Funds $96 Million in Senior Debt

In two separate financings, Karlin Real Estate has funded $96 million in first mortgage debt to refinance resort properties in Arizona and Colorado. Karlin Real Estate has provided affiliates of IMH Financial Corporation (IMH) with $50 million in senior debt to refinance the L’Auberge de Sedona (L’Auberge) and the Orchards Inn, two adjacent hotel properties… Read More →

The legality of drones in commercial real estate

drone

Equipped with a high-tech camera that takes photos and shoots aerial footage, Unmanned Aerial Vehicles(UAV) might seem appealing to local real estate companies, but the legality of their use remains up in the air when it comes to commercial realty. Motorized aircrafts are traditionally used for leisure activities, but UAVs are increasingly taking flight to… Read More →

Central Arizona CCIM chapter elects 2015 board

CCIM Central Arizona Chapter Logo

The Central Arizona CCIM Chapter announced the results of its election of 2015 officers and board members. The 2015 officers include: David Miller, CCIM (president); Bobbie Mastracci, CCIM (vice president-president elect); Jenette Bennett, CCIM (secretary/treasurer); and Scott Fey, CCIM (immediate past president). The board members are: Neal Churney, CCIM; Steven Crane, CCIM; Alan Davidson, CCIM;… Read More →