Suburban Phoenix Residence Inn Marriott Sold by Marcus & Millichap

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 100-room, upscale extended-stay Residence Inn Marriott in Gilbert, Arizona. The terms of the sale were not disclosed. “The sale of the Residence Inn Gilbert demonstrates that the hotel investment…

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YAM Capital Adds New Portfolio Manager To Growing Roster Of Financial Experts

YAM Capital, a private real estate bridge lender specializing in short-term commercial real estate financing, has hired Irish Rogers as its newest Portfolio Manager. Located in Scottsdale, Ariz., the organization offers efficient, reliable solutions for a broad range of bridge lending needs. In her role with YAM Capital, Rogers is responsible for portfolio and risk…

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City of Peoria Awards Plaza Companies Long Term Ground Lease For Development of Commercial Parcel Along Loop 101

The Peoria City Council voted Tuesday night to enter into a new agreement with Plaza Companies on a significant new development project at the Loop 101 and Peoria Road. Plaza Companies will enter into a long-term ground lease on the 14-acre property, located at the southwest corner of the highly trafficked intersection. Plaza will design, lease and develop the city-owned parcel to create a new…

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$77 Million Apartment Asset Sale in Tempe Brokered by IPA

Institutional Property Advisors (IPA) announced the sale of Onnix, a 659-unit apartment property in Tempe, Arizona. The $77,050,000 sales price equates to $116,920 per unit. “The physical improvements made to Onnix, its excellent location and tremendous scale place the property in an enviable position within the competitive landscape of Tempe,” says Cliff David, senior managing…

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Clear Title Agency of Arizona growth highlighted by acquisition of Camelback office building

Clear Title Agency of Arizona, a leader in commercial and residential title and escrow services, continues fast-paced growth in its 10th year of operation. Clear Title acquired the 25,000-square-foot office building at 2901 E. Camelback Rd. to house its main office. The locally-owned company formerly was at 2910 E. Camelback Rd. “The growth that we…

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CBRE SECURES $57.7 MILLION IN ACQUISITION FINANCING FOR 576-UNIT APARTMENT COMMUNITY IN PHOENIX, AZ

CBRE Capital Markets’ Debt & Structured Finance team announced that it has secured $57.7 million in financing for the acquisition of a 576-unit, Class B+ apartment community in Phoenix, Arizona. Rocco Mandala, Anthony Valenzuela and Dominique Damerell of CBRE’s Phoenix office secured the seven-year loan with three years of interest-only payments on behalf of the…

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Financing Closes on New, Six-Story Multifamily Project in Central Phoenix

Hunt Investment Management, a Hunt Companies affiliate, Tilton Development Company, Civitas Capital Group and Ryan Companies US, Inc. announced today the close of financing for a six-story multifamily project in central Phoenix. The partnership group of Hunt Investment Management, Tilton, Civitas and Ryan acquired  the 1.56-acre site located at Central Avenue and Willetta Street, south…

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SCOTTSDALE GALLERIA CONTINUES TO ATTRACT JOB CREATING TENANTS

Stockdale Capital Partners’, Galleria Corporate Center continues to be a magnet for companies looking to locate and grow in the Phoenix area.  With a newly remodeled lobby and common areas, the former ‘mall turned creative office’ complex in Scottsdale’s Downtown Entertainment District is accommodating hundreds of jobs.   This month, Indeed, Inc., reputed to be…

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Ares Management Funds and TruAmerica Multifamily Acquire 240-Unit Apartment Community in Phoenix for $31 Million

Los Angeles and Phoenix (June 13, 2017) – Funds managed by Ares Management, L.P. (NYSE: ARES) and TruAmerica Multifamily announced today the acquisition of Broadstone Gateway, a 240-unit family community in the Phoenix, AZ metro area. The transaction was valued at $30.75 million. Broadstone Gateway is located at 1700 North 103rd Avenue in Avondale, 20…

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