Arizona
Gilbert Rental Community Fetches $66.5M
An apartment complex in the town of Gilbert has sold for over $300,000 a unit. The newly delivered Elevation at… Read more
Phoenix Retail Sector Sets Blistering Pace
Phoenix saw a strong finish to the year with 2.3 million square feet of retail space under construction in Q4… Read more
LV Collective to Build 289-Unit Tempe Rental Community
LV Collective has been given the green light to demolish a one-time Super 8 motel near Rural Road and Apache… Read more
Buc-ee’s Exploring First Arizona Store
Buc-ee’s is well known in Texas and some bordering states. But most Arizonans have likely never heard of the Texas-sized… Read more
Surprise Site for $250M Mixed-Use Project
GTIS Partners and Clyde Capital are combining efforts on the development of a $250 million mixed-use, master-planned community in Surprise.… Read more
Bela Flor Obtains $66M Bridge Loan for 212-Unit Mesa BTR Community
CBRE has obtained a $66 million bridge loan for Bella Encanta, a 212-unit build-to-rent (BTR) community located in Mesa, Ariz.… Read more
Banner Health Spins off Glendale Medical Building
With the benefit of a $10.1 million acquisition loan, UDLR Health acquired the Thunderbird Medical Pavilion in Glendale from Banner… Read more
NLOP Sells Four Office Assets for $43M
Net Lease Office Properties (NLOP), a publicly traded real estate investment trust, has sold four U.S. office properties for gross… Read more
Underwriting Metrics Improve for Prime Multifamily
Prime multifamily metrics continued increasing in the fourth quarter of 2023, CBRE said Friday. Unlevered IRR targets, going-in cap rates… Read more
Two Mill Avenue Properties Flip for $22.2M
Two well-located Tempe retail properties have been sold for a total of $22.2 million. JLL represented the seller and procured… Read more
Blackstone Taking Tricon Residential Private
Blackstone and Toronto-based Tricon Residential Inc. said Friday they had entered an agreement under which Blackstone Real Estate Partners X… Read more
Phoenix Industrial Sector Leads Nation
Phoenix continues to lead the nation in industrial deliveries through Q4 2023. In Q4, the Valley delivered over 8.8 million… Read more
JV Acquires 4-Property Tucson Outpatient Portfolio
Altera Fund Advisors and Virtus Real Estate Capital acquired a four-property medical outpatient portfolio in Tucson from Healthcare Trust of… Read more
Tucson Retail Center Trades for $27M
The Rillito Crossing Marketplace in Tucson has been sold to Prairie Hill Holdings. Epic Real Estate Partners and Centerbridge agreed… Read more
Glendale Office Property Picked by Woodside
Woodside, a Texas investment firm, acquired the Talavi Corporate Center for $9.3 million or $153K/foot in an all-cash transaction. The… Read more
Walton Global to Demo, Redevelop PV’s Smoke Tree Resort
The shuttered Smoke Tree Resort in Paradise Valley will be demolished to make way for an 82-room resort and on-site… Read more
Ventana Medical Acquires Tucson-Area R&D Facility
Ventana Medical Systems, Inc. purchased the Pharmaceutical R&D Facility at 2090 E Innovation Park Dr., in Oro Valley, for $25… Read more
New Phoenix Hotel Blends in Historic Building
Anish Hotel Group decided it liked the old Fuller Paint Company building in downtown Phoenix. The building now hosts the… Read more
Empire Building AZ’s Largest BTR Project
Empire Group started construction on its largest build-to-rent project in Arizona, Village at Bronco Trail. The new development is in… Read more