Finance & RE Law Archives

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 →

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 →