Finance & RE Law Archives

Old School O7 sells for record low cap rate

OldSchool07, WEB

Joe Compagno of CBRE has sold Old School O7, considered one of the most unique urban infill redevelopment projects in Phoenix. The 9,293-square-foot shopping center commanded a sale price of $6.1 million – or $656 per square foot – and a record low cap rate of 5.5 percent. The tenants include strong national tenants Starbucks,… Read More →

HFF closes $12.45M sale of Tempe distribution center

HFF, WEB

HFF announced Monday that it has closed the sale of Normal Junction Distribution Center, a two-building, 140,314 SF distribution center in Tempe, Ariz. HFF marketed the property on behalf of the seller, American Realty Advisors.  Industrial Property Trust purchased the center for $12.452 million free and clear of existing debt. Normal Junction Distribution Center is… Read More →

ASU law school to break ground next week

ASU's Arizona Center for Law and Society

The official groundbreaking for Arizona State University’s new $129 million law school building in downtown Phoenix, the Arizona Center for Law and Society, is set for Nov. 13. The ceremony will take place at the northwest corner of Taylor and First streets starting at 8 a.m. Attending the ceremony will be ASU President Michael M.… Read More →

Multifamily lending update: Quality over quantity

Silhouette of man with money

By Charlie Williams, Senior vice president, Berkadia   What do developers and investors have to be able to show lenders to improve their odds of getting financed? It is important that the major aspects of the developer’s business plan are viable and supportable. Lenders are not interested in relying on any assumption of a home run… Read More →

BKM Capital Partners acquires three industrial parks

Black Canyon 8024 N. 24th Avenue, BKM Capital, WEB

BKM Capital Partners has acquired three multi-tenant industrial parks with a combined capitalization of $42.8 million on behalf of BKM Industrial Value Fund I, LP, according to Brian Malliet, CEO and Co-Founder of BKM. These are the first three assets to be included in the commingled fund, which targets final close in March 2015, and intends… Read More →

HFF arranges acquisition financing for Camelback Center

HFF OM - Camelback Center

HFF announced it has arranged acquisition financing for Camelback Center, a 32,963-square-foot, CVS-anchored retail center in Phoenix. HFF worked on behalf of a private real estate fund advised by Crow Holdings Capital- Real Estate to secure the fixed-rate loan through Guggenheim Commercial Real Estate Finance, LLC.  Loan proceeds were used to acquire the property. Camelback… Read More →

NorthMarq arranges $21.4M loan for Lion’s Ridge Apartments

Lion's Ridge Apartments

John Kinser, vice president and Luke Donahue, senior vice president of NorthMarq Capital’s Phoenix office collaborated with David Link, senior vice president/senior director of NorthMarq Capital’s Denver office to secure a $21,377,000 construction loan for Lion’s Ridge Apartments, a 114-unit, workforce housing, multifamily development located at 1280 North Frontage Road, Vail, Colorado. NorthMarq arranged the… Read More →

Berkadia negotiates $21.5M for multifamily acquisition

Sierra Ranch Apartments Photo, Berkadia, WEB

The Phoenix office of Berkadia Commercial Mortgage LLC (Berkadia) recently negotiated the financing and acquisition of Sierra Ranch Apartments, a multifamily property located in Phoenix. Senior Vice President Charlie Williams worked with the borrower to secure a $21.5 million, 10-year, fixed-rate acquisition loan through a life company correspondent, while Senior Partner Mark Forrester and Partner… Read More →

HFF finances multifamily property in Chandler, Ariz.

San Brisas

HFF announced that it has arranged financing for two garden-style multi-housing communities – San Brisas in Chandler, Arizona and The Preserve at Arbor Hills in Plano, Texas. HFF worked on behalf of Pure Multi-Family REIT LP, to secure the seven-year loan through Northwestern Mutual.  Loan proceeds were used to acquire the properties. San Brisas is… Read More →

CCIM Institute certification’s return of investment

CCIM Central Arizona Chapter Logo

Op-Ed by Scott Fey, CCIM, Principal, Omni-American LLC The Certified Commercial Investment Member (CCIM) Institute was established in 1954 to give commercial real estate practitioners a previously unrealized opportunity to further their business practices through focused education and networking opportunities. Today, with the addition of advanced technology tools, CCIM is the global leader in commercial and… Read More →

Bob Kline joins Cushman & Wakefield capital markets group

Signaling a move to expand its Capital Markets platform, Cushman & Wakefield has added a capital markets and commercial real estate veteran to its leadership roster. Bob Kline of RW Kline Companies has joined the firm as Senior Managing Director of the Equity, Debt and Structured Finance Group (EDSF). Kline was previously CEO of the… Read More →

CBRE secures $46.4M in CMBS financing for three transactions

Villa Encanto

CBRE Capital Markets’ Debt & Structured Finance team arranged $46.4 million in CMBS debt in three major transactions across the Western U.S. The transactions include: The Grove, located at 365 W. Craig Road in Las Vegas, Nevada; Villa Encanto, located at 4315 E. Thunderbird Road in Phoenix, Arizona; and Gander Mountain Company located on E.… Read More →

Clear Title ranks on Inc. 500 | 5000 List

August 27, 2014 by in AZRE Magazine | Blogs | Finance & RE Law

Clear Title Agency of Arizona, a commercial and residential title and escrow service provider, is ranked No. 671 on the eighth annual Inc. 500|5000 List, an exclusive ranking of the nation’s fastest-growing private companies. It is the second straight year Clear Title has earned the distinction, moving up more than 300 spots from last year’s… Read More →

Central Phoenix apartment complex trades in $12.5M investment deal

Bella View Apartments

A 355-unit, central Phoenix apartment community at 2912 E. Indian School Rd., Phoenix, sold for $12,500,000. The price calculates to $35,211 per door. The transaction closed this past July 29. Lee & Associates Principal Todd Braun and associate Will Barnard represented the buyer, SPL Real Estate & Management Co. of Denver. Karl Abert of Newmark… Read More →