Today’s News 7-30-2025

About 52 acres of state trust land bordering the J.W. Marriott Desert Ridge Resort & Spa are going up for auction, according to a notice from the Arizona State Land Department. The minimum bidding price is $37.75 million, and the auction will take place Sept. 23. The applicant, Texas homebuilder D.R. Horton, wants to purchase the site and has preliminary plans for a…»

San Diego-based Fairfield Residential plopped down $462.38 million for what is now the largest Arizona multifamily portfolio deal in the state’s history. The next closest was 3rd Ave Investments’ $414.5 million of a Phoenix multifamily portfolio from Samuel Geltman & Co. in December 2021, according to data from CoStar/Homes.com. “While there were some multi-property…»

A Chicago-based developer will break ground this summer on an 88-unit condominium complex in north Scottsdale, the latest addition to a 120-acre master-planned development north of Loop 101. “We thought there was a gap in the market for luxury condos that don’t shoot for the highest price point,” Jonathan McCulloch, CEO of Belgravia Group, said. Belgravia is…»

CRG, the national real estate development and investment firm, announced that Hadrian, an advanced manufacturing company building AI-powered factories for America, will establish a large-scale manufacturing and software hub at the 269,500 square feet at Building A of The Cubes at Mesa Gateway. Known as Factory 3 (F3), the advanced manufacturing facility represents a…»

After calling the bottom of the real estate cycle 18 months ago, Blackstone is now seeing signs of brighter days ahead. “And since then, we’ve been actively investing across our real estate equity and debt strategies,” said Stephen Schwarzman, chairman and CEO, during Blackstone’s second-quarter 2025 earnings call, according to a transcript from S&P Global Market Intelligence…»