Finance & RE Law Archives

The changing face of development: Cheryl Lombard

Cheryl Lombard

If Valley Partnership is the voice of responsible development in the Valley, new CEO and President Cheryl Lombard is expected to be the deep breath behind it.  In mid-March, she transitioned from being director of government relations at The Nature Conservancy in Arizona to the leader of Valley Partnership. “We were looking for a transformative… Read More →

The great exchange: How 1031 exchanges affect local markets

With the talk of tax reform that would repeal or limit 1031 Exchanges, the global effect of changing like-kind deals is in the spotlight. Section 1031 Exchanges, or like-kind exchanges, are used in commercial real estate to allow investors to reinvest their profits into a new property through an exchange of a similarly valued property… Read More →

No guts, no glory: Tales of risk from Arizona CCIMs

Not all commercial deals were created equal. It’s when things get a little messy, complex or a buyer is considering a potentially risky investment that having a Certified Commercial Investment Manager on his or her side can lead to the most informed decisions possible. This was especially true during the Great Recession. Below are vignettes… Read More →

Helix Capital closes $5.83M private loan deal

Helix Capital, an Arizona-based commercial real estate investment, development, brokerage and management company, recently closed a $5.83 million private loan deal. Helix provided private financing for a 52,134 SF shopping center located at Bell and Reems Roads in Surprise, Ariz. The shopping center is 100 percent leased and Mountainside Fitness is the anchor tenant, occupying 75… Read More →

NorthMarq negotiates $23M refinance of 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

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

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

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 →