• Multi-talented Hines, Bill Olson look forward to expanding into multifamily

    By Debra Gelbart   Experienced developer. Innovative investment builder. Award-winning property manager. Multinational organization. Qualified fiduciary. Hines, one of the world’s largest real estate organizations, is expanding again—this time into multifamily development—and the expansion will affect Greater Phoenix. The firm’s portfolio of projects completed, underway, acquired or managed includes 1,273 properties representing more than 500

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  • Flexible business model allows Greystar to harness market opportunity

    By Suzanne Heyn   Phoenix’s high-transaction market is perfect for a firm like Greystar, with a foundation in third-party property management but the inclination to invest or develop as market forces create opportunities. During the market downturn, Greystar found opportunity in the elevated number of real-estate-owned properties and distressed transactions. “You had a new wave

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  • Cushman & Wakefield Team Plays the Field in Multifamily Properties

    By Tim J. Randall When the 30 years of real estate experience between Jim Crews and Brett Polachek hone in on the Arizona multifamily space, they see a healthy, recovering and vibrant market. This multifamily team works on the national platform of Cushman & Wakefield and has completed more than 118 transactions totaling over $1

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  • Multifamily Financing: Continued Demand Means More Competitive Lending Options

    By Katie Peters As multifamily remains one of the healthiest sectors of the commercial real estate market, investors and developers continue to look for opportunities that will generate the best return on their investments in multifamily projects. Heading into the second half of 2013, the continued demand for rental units resulting in high occupancies nationwide

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  • Cassidy Turley Multifamily Team Challenges the Expected

    By Tim J. Randall Dave Fogler has sold multifamily properties in Arizona since the mid ’80s. Steve Nicoluzakis worked for Colliers selling multifamily properties for two years before moving to JPI Apartment Development in 1997, where he worked on the development of multiple luxury apartment communities in Phoenix. The combination of their sales and development

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  • Gradual market rebound leaves plenty of room for growth

    By Suzanne Heyn   The slow, steady growth underway in Phoenix’s multifamily real estate market is a departure from the traditional boom/bust ride. Brad Goff, principal with ARA Real Estate Investment Services, calls it the first solidly healthy market since the 1970s and expects growth to continue through 2016 or 2017. “The Phoenix market typically

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  • Cover Story: All in the Multifamily

      The real estate recovery since the end of the recession in 2009 has rippled across the market, from land to industrial, single family, and office. However, there has been a particular and significant leader in this rising tide that has lifted all boats: multifamily. As the housing recession pushed a wave of owners into

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  • All in the Multifamily

    All in the Multifamily Home is where the heart is, and for the developers, lawyers, brokers and other professionals featured in this multifamily issue, their hearts are where the homes are. This issue, we keep things “All In the Multifamily.” A handful of individuals and partners representing nine firms share their journey to the multifamily

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  • CBRE FHA Lending Group Provides $9M in Non-Recourse Financing for Clarendon Park Apartments

    CBRE Group, Inc., through its FHA Lending Group, (which operates as CBRE HMF, Inc.), announced today the successful refinancing of the Clarendon Park Apartments, a market-rate apartment project located in Phoenix. The loan was funded through CBRE’s FHA-insured permanent loan program providing a fixed rate, 35-year, fully-amortizing loan.  Clarendon Park Apartments is a 138-unit apartment

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  • NorthMarq Arranged $8.94 Million Mortgage for The Vineyards Apartments in Glendale

    James DuMars and John Kinser of NorthMarq’s Phoenix regional office, arranged first mortgage refinancing of $8.94 million for The Vineyards Apartments, a 300-unit, market-rate suburban multifamily property located in Glendale, Arizona.  Financing was based on a 7-year term and a 30-year amortization schedule.  NorthMarq arranged this financing for the borrower, Vineyard/Phoenix Investments, LLC, an Arizona

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