Commercial Real Estate & Business News – April 14, 2014
New Industrial Park in Gilbert The project known as Park Lucero is located on 48.1 acres at the northwest corner of Mustang Drive and Germann Road near the Chandler/Gilbert border. The site has frontage along the Loop 202 freeway and Germann Road and is directly adjacent to more than one million square feet of retail […]
Commercial Real Estate & Business News – April 11, 2014
Hines Planning $150 Million Mixed-Use Project Near Chandler Fashion Center Hines Interests Limited Partnership in Houston, Tex. (Gerald Hines, principal) is planning to develop a $150 million residential, office, retail and hotel complex next to the Chandler Fashion Center regional mall. Hines has filed a zoning application in Chandler for the upscale mixed-use project. If […]
Commercial Real Estate & Business News – April 10, 2014
Adjacent Tempe Multifamily Assets Sold for $27.35m Two Tempe apartment complexes sold yesterday for a combined $27.35m or $62,018 per unit. Steve Wasserman of Gelt, Inc. acquired the properties from Bank of America Community Development with a combination of $6,837,500 in cash and $20,512,500 in new debt with New York Community bank… Read more Growing […]
Commercial Real Estate & Business News – April 9, 2014
Canadian Investment Funds Continue to Target Southwest U.S. Apts. Canadian funds and REITs continue to be among the most active buyers of multifamily properties in U.S. Sunbelt states. One the latest deals comes from Starlight U.S. Multi-Family Core Fund, a newly created fund sponsored and managed by Starlight Investments Ltd in Toronto… Read more Lenders […]
Commercial Real Estate & Business News – April 8, 2014
Quadrangle Village in Tempe Sold for $41.875m Greg Merage of MIG Capital has acquired the 510-unit Quadrangle Village apartments in Tempe for $41.875m or $82,108 per door. The property, located east of the southeast corner of University Drive and Rural Road, is comprised of sixteen 3-story buildings totaling 375,660 ft2 built 1987 on 14.18 acres. […]
Commercial Real Estate & Business News – April 7, 2014
Money Pours into Mezzanine Loans Debt funds are gathering cash to invest in commercial and multifamily properties, offering mortgages that range from mezzanine loans to senior financing to assets in transition. “They have many arrows in their quiver,” says David Cardwell, of the National Multi Housing Council (NMHC). Debt funds have benefited from the flood […]
