Here are the news articles you might find interesting today for commercial real estate and business:
Phoenix apartments sell for $4.1 million Pathfinder Partners LLC in San Diego paid nearly $4.1 million to purchase the Academy Apartments at 3626 N. Fifth Ave. in Phoenix. The seller was Janna Holdings LP of Santa Monica, Calif. The 96-apartment complex sold for $42,396 per unit. View article…
Mesa West Provides $41.2M Refi for Phoenix, Portland Retail Centers Mesa West Capital has provided a $41.2 million first mortgage refinance loan, cross collateralized by Karlin Real Estate’s two retail centers in Scottsdale, AZ and Portland, OR. Shea Scottsdale is comprised of two adjacent grocery-anchored shopping centers totaling 277,000 square feet of anchor, in-line, pad and office space located at the corner of N. Scottsdale Rd. and E. Shea Blvd in the Central Retail submarket of Scottsdale, AZ. View article…
Vote signals end for Mesa’s Riverview Golf Course The end is closer than was once thought for one of Mesa’s beloved recreational amenities. But even as the City Council seals its fate Monday night, another vote could signal new opportunities for lovers of the outdoors. Originally scheduled for closure on April 1 to make way for the Chicago Cubs complex, Riverview Golf Course now will host its final rounds on March 18. View article…
Housing projects get early OK from Mesa City Council Three quasi-public housing projects for Mesa’s downtown and west side won preliminary — very preliminary — City Council approval last week. Two sailed through with relative ease. One would redevelop the abandoned, city-owned Escobedo Apartments just north of downtown. The other would turn the La Mesita family homeless shelter on West Main Street into a transit-oriented apartment complex for working families. View article…
Two Banks Closed, One Left Without Purchaser Two more banks went under over the weekend, and one of those banks did not find another financial institution to take over. Home Savings of America in Little Falls, Minnesota was left in the hands of the Federal Deposit Insurance Corporation (FDIC) after not finding another bank to purchase its assets. View article…
Real Estate Debt, Delinquencies Decline: Report Real estate-related debts are on the decline, as are overall delinquencies, according to a quarterly report from the Federal Reserve Bank of New York. Debt maintained through mortgages and home equity lines of credit (HELOC) declined $146 billion during the fourth quarter of last year. Mortgages made up a majority of the decline – $134 billion – while HELOCs made up the remaining $12 billion. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – (BACK ON MARKET) Investment, multi-tenant retail center. For a brochure, click here…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…
2 Acres of Land – (NEW LISTING) Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. For a brochure, click here…
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.