Commercial Real Estate & Business News – August 5, 2013

Arizona’s small businesses posted the nation’s second-largest hiring gains in July, with 0.08 percent growth, according to the latest Small Business Index from Intuit Payroll. That marks the second consecutive month of job gains… Read more
Johnson Capital’s Phoenix office originated $25.7 million in refinancing to retire maturing debt on the 400-unit Crystal Springs Apartments. Owner Crystal Springs Phase II LLC, which has owned the asset since 2008, obtained non-resource permanent financing that came with a fixed rate for the five-year term and a 30-year amortization period for the class A property… Read more
Neil Kadisha (CEO) of Omninet Captial has acquired The Midtown Bank Of America Tower from a joint partnership between Ronald Koos of Ronald Realty Group (60.51%) and Rance S Gregory of Morrison Street Capital (39.49%) for $14.8m. The all cash transaction reflects $77.87 per square foot. The Midtown Bank Of America Tower is a fifteen-story office tower… Read more
A groundswell of medical joint ventures and partnerships combining the strengths of for-profit and not-for-profit providers are leveraging their stronger balance sheets to invest in real estate, emerging as one of the key drivers behind the increased demand for medical office buildings… Read more
Entering the complex there is a Fort Knox feeling reminiscent of the classic James Bond movie Goldfinger: security access, cameras, closed-circuit monitors, guards, and badges. While there is no Oddjob at this facility, there is definitely a feeling of control, precision, and protection. The structure itself has the look and feel of a thousand other non-descript commercial buildings, however… Read more