Commercial Real Estate & Business News – May 23, 2013

Pathfinder Takes on Copper Creek Ownership

San Diego-based Pathfinder Partners LLC acquired the 144-unit Copper Creek for its eighth buy in the metro area. The SoCal buyer paid Chicago-based Equity Residential Properties $16.1 million for ownership rights of the 1980s-built multifamily property… Read more

5.3 Acre “Argo at Town Lake” Project Sells for $13.5m, Purchased in 2011 for $4.6m

Evergreen Development sold a 5.3 acre parcel of land immediately south of the Tempe Center for the Arts for $13.5m or $58.19 per ft2 to Lennar Multifamily- a newly formed division of Lennar Corporation. Lennar secured a $37.5m construction deed of trust with California Bank and Trust. Andrew Skipper, co-founder of Evergreen, and Erik R Higgens, Vice President of Lennar Multifamily Investors, closed the deal… Read more

Billions Pour into Healthcare REITs

It looks as if the good run for healthcare-focused real estate investment trusts is not coming to an end anytime soon. As of April 12, all of the US equity REITs – not just healthcare – had raised $18.3 billion in new equity and debt, according to the research firm SNL Financial. Of that, the country’s healthcare REITs accounted for 12.2% of the total, or about $2.24 billion… Read more

Liberty Property Trust Transforms Sky Harbor Center In Phoenix

Liberty Property Trust this week announced the grand reopening and rebranding of 2626 S. 7th St., now known as Liberty Sky Harbor Center in Phoenix. Since acquiring what was a run-down, obsolete warehouse last September, the company has completed a redevelopment of the property and its transformation into a state-of-the-art cross-dock distribution center… Read more

The New Normal: Forecasting Lessons Learned From the Recession

No economist or researcher called their 2008 forecast correctly. In fact, nobody could have predicted the government would let a large financial institution fail, nor be prepared for the panic that ensued. While various firms, including Fannie and Freddie, were being bailed out, policymakers seemed to disregard the interconnectedness stemming from the Lehman Bros. collapse… Read more