Finance & RE Law Archives

Cleart 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 →

John Sticht elected to Arizona State Bar executive council

John Sticht, of Jennings, Haug & Cunningham, has been elected to serve on the Arizona State Bar Construction Section’s Executive Council as Secretary. Prior to accepting a one-year term as an officer for the leadership council, Mr. Sticht served for three years in an “at large” position on the council. His term as secretary commenced… Read More →

Silicon Valley Bank continues expansion in Arizona

Money Tree, WEB

Silicon Valley Bank, the bank of the global innovation economy, is extending its investment in Arizona by bringing additional IT and finance positions to its Tempe location in support of the company’s global operations. In addition, Silicon Valley Bank committed to lend or invest at least $100M to technology and life science companies based in… Read More →

Geoffrey Harris joins CBRE Capital Markets

CBRE Group, Inc. today announced that Geoffrey Harris has joined the firm’s Capital Markets’ Debt and Structured Finance team as Senior Vice President. Harris is a financial services professional with more than 15 years of mortgage banking experience. Based in Phoenix, Harris will play a key role in originating net-leased transactions for the firm nationally,… Read More →

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 →