Tag Archives: Developer of the year

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Bascom Arizona Closes 432-Unit Luxury Apartment Community in Phoenix, Arizona

Bascom Arizona Ventureshas acquired Arcadia Cove Apartments, a 432-unit luxury community located in Phoenix, for an undisclosed price. Bascom Arizona Ventures worked with Brian Eisendrath and Brandon Smith of CBRE to arrange the financing for the purchase. Steve Gebing and Cliff David from Marcus & Millichap represented the buyer and seller on this transaction.

Built in 1996, the property consists of twenty-five two -and -three -story buildings with two chlorine-free mineral swimming pools and two spas. Other amenities include a state-of-the-art 24-hour fitness center, controlled access gated entry, many common area Wi-Fi hot spots, barbecue grills, and detached garages. Arcadia is located in the prized Arcadia neighborhood in the heart of metropolitan Phoenix, at one of the busiest north/south thoroughfares.

Mark Brotherton, Portfolio Manager for Bascom Arizona, comments, “Arcadia is a prime candidate for property wide upgrades to capitalize on the recovering Phoenix multifamily market. We are excited about our newest acquisition and look forward to commencing our value add program as soon as possible. Arcadia Cove is our 10th acquisition that we have completed in the past 12 months in the state of Arizona.”

Bill Wright, Asset Manager for Bascom Arizona Ventures, adds, “Bascom will recapitalize the property with exterior and interior renovations which will equip Arcadia Cove with one of the best amenity packages in the submarket. We look forward to creating value for our new residents.”

About The Bascom Group, LLC: The Bascom Group, LLC is a private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate related investments and operating companies. Bascom sources value-added and distressed properties including many through foreclosure, bankruptcy, or short sales and repositions them by adding extensive capital improvements, improving revenue, and reducing expenses by realizing operational efficiencies through implementation of institutional-quality property management. Bascom has completed over $8.0 billion in multi-family and commercial value-added transactions since 1996 including more than 220 multifamily properties and 60,000 units. Bascom currently ranks among the top 50 multifamily owners in the US. Bascom’s subsidiaries and joint ventures include the Southern California Industrial Fund, Rushmore Properties, Bascom Portfolio Advisors, Shubin Nadal Associates, Spirit Investors, Bascom Northwest Ventures, Bascom Arizona Ventures, and the Realm Group. Bascom’s subsidiaries also include Premier Business Centers, the largest privately held executive suite company in the US.

After Hours: Catherine Alcorn, CR Engineers

>> Catherine Alcorn

President of CR Engineers, Inc.

With CR Engineers for 19 years

rsz_catherine_alcornBorn and raised in Phoenix, received a BS in Electrical Engineering from Arizona State University

Husband John; daughter Audrey, 8; son Anthony, 5

>> Responsibilities

Alcorn manages the business and serves as senior electrical engineer for Aviation, Water/Wastewater, and Recreational Facilities.

>> Favorites

Sport/teams: Patriots, Red Sox, Celtics, and Bruins.

Music: Blues, classical rock, and any Johnny Cash song.

Destinations: Happy Jack, Ariz., and Portland, Maine, in the summer. I’d like to visit Italy, Australia, and go on an African safari.

Activities: Alcorn loves to spend time with her husband, kids, and three dogs. She also enjoys volunteering at her kids’ school.

>> What did you think you’d be when you were growing up?

As a daughter of an electrical engineer who founded CR Engineers in 1985, I always knew I’d follow in my father’s footsteps and be an electrical engineer.

>> What accomplishment are you especially proud of?

My husband and I have successfully continued the family business after my father’s passing in 2001. With our office close to our home in Fountain Hills, we maintain active participation in all our children’s activities and schools.

>> What would people be surprised to know about you?

I’m a gourmet cook. My favorite dishes include smoked duck and andouille sausage gumbo.

>> Best business advice you’ve ever been given:

The greatest mistake an executive can make is to be afraid of making a mistake.

>> Advice you’d share with people:

Stay humble and curious. Maintain a hunger to always learn more. Build a vision for your life and set your goals to reach them.

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Developer Of The Year 2010

Ryan Companies US Inc.

Honorable Mention for Best Retail Project: Aspen Place at the Saw Mill

Honorable Mention for Most Challenging Project: 3900 Camelback Center

A well-respected developer and contractor in the Valley and beyond, Ryan Companies is a proven leader when it comes to creating memorable projects. The company was founded in 1938 by James Henry Ryan, and has consistently grown and expanded over the past 70 years.

The company cultivates a culture of respect and service through its projects, and delivers value by being lean and green. Since opening its Arizona office in 1994, Ryan has delivered more than 50 high-quality developments that bring opportunity, economic investment and consumer choice. And the company has given back to the community in big ways through volunteerism — such as the Valley Partnership Annual Community Project.Developer of the year 2010

By the early 2000s, it was clear Ryan had established itself as fulfilling a need for complete, design-build, development and management services in Arizona. Its list of customers grew with projects for Del Webb, Honeywell, DMB, Dial Corp., Motorola, Avnet, ASML and Edwards Jones. In 2001, Ryan was recognized by Ranking Arizona as the No. 1 Commercial Developer. Today, the Arizona office has grown to 85 employees and has completed 13 MSF of development.

While striving, planning, working, succeeding, and delivering the best building and real estate solutions for local businesses, a simple Ryan family ethic endures: in good times and in bad, for employees and for customers, the company always works to do the right thing.


www.ryancompanies.com


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