ARTEMIS FUNDS PREFERRED EQUITY FOR THE $8.750M ACQUISITION OF THE DESERT WIND APARTMENTS

Artemis Realty Capital has funded the preferred equity for the $8,750,000 purchase of Desert Wind Apartments, a 216-unit community in Phoenix, Arizona located on the NWC corner of McDowell and 41st avenue. The permanent debt was placed by Brandon Harrington and Matt Steffen at Walker & Dunlop and the selling broker was Cliff David and Steve Gebing…

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Arizona’s First Net Zero Energy Apartments are Officially Open in Scottsdale

Equinox, Scottsdale’s newest luxury apartment community, hosted its official grand opening on May 20. The joint venture between VIRIDIS Group and MODUS Development is the state’s first true Net Zero Energy apartment complex – meaning it will produce roughly the same amount of energy as it consumes. The project utilizes green and energy saving construction…

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BKM CAPITAL PARTNERS ACQUIRES THREE-PROPERTY VALUE-ADD LIGHT INDUSTRIAL PORTFOLIO IN GROWING PHOENIX METRO

BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has acquired the RREEF Tempe portfolio, a 305,524 square-foot three-property portfolio in the growing submarket of Tempe, Arizona in an off-market transaction. The portfolio consists of 16 multi-tenant light industrial buildings and was purchased for $24.1 million, which…

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STEPHEN HULSTON JOINS NOVO DEVELOPMENT

Stephen Hulston has joined NOVO Development of Scottsdale and will oversee the company’s cost estimating, pre-construction and development activities. Hulston brings almost three decades of construction experience to NOVO having most recently served as Vice President/Business Unit Leader for Balfour Beatty Construction. He managed Arizona operations for the construction company, including all financial, design, construction…

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McCarthy Building Companies Promotes David Clarkson to Project Director

McCarthy Southwest, a division of McCarthy Building Companies Inc. (www.mccarthy.com), recently promoted David Clarkson to the role of project director. In this position, Clarkson will focus on developing and leading the various internal and external teams on a construction project to ensure a successful, integrated approach throughout all phases of the project. From the start…

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McCarthy Building Companies Promotes Mike Corso to Vice President, Operations

McCarthy Building Companies Inc. (www.mccarthy.com) recently promoted Mike Corso to vice president, operations for the company’s growing Renewable Energy team within the Southwest division. He has more than two decades of construction experience. In this new position, Corso will oversee a diverse portfolio of solar and energy related projects across the country. As project director…

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Note Sale Comes Full Circle with Retail Center Trade to California Investor

A once maligned, but well-located shopping center in the heart of one of Phoenix Metropolitan area’s best master-planned communities, is returning to its former glory. Foothills Park Plaza is located on the southwest corner of Chandler Boulevard and Desert Foothills Parkway in the affluent area of the Ahwatukee Foothills master-planned community.  The 4,140 acre Foothills…

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RYAN COMPANIES CELEBRATES LIVING SPACES’ EAST VALLEY GRAND OPENING

Ryan Companies US, Inc. joined Living Spaces executives and town of Gilbert leaders today at San Tan Village to celebrate the grand opening of Living Spaces’ first east Valley store, warehouse and showroom. Ryan began construction on the 98,400 square foot retail project in August of 2015 and was responsible for the shell of the building, along with the site hardscape and paving activities.…

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Valley’s top market leaders come together for CoreNet Global Arizona’s “Midyear Market Update: Brokers’ Perspective”

The 2016 commercial real estate industry in the Valley is showing signs of growth at midyear. But what lies ahead for the next six months in regards to job creation, vacancy rates and available capital? These and other topics will be discussed at the “Midyear Market Update: Brokers’ Perspective,” presented by CoreNet Global Arizona, June…

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