Commercial Real Estate

Sales Transactions 1. Erickson Companies purchased a multi-state industrial portfolio consisting of a 40KSF headquarters facility on 13-acres at 250 N. Beck Avenue, Chandler, and a 20KSF regional office facility on 15-acres at 8350 Industrial …

Sales Transactions 1. KKR purchased a five-building industrial portfolio, representing 540,039 square feet of multi-tenant, fully leased infill space at 4441 W. Polk Street, 120 E. Watkins Street, 4720 W. Van Buren Street and 5240 …

Sales Transactions 1. BPM Real Estate Group purchased PetSmart’s corporate headquarters campus at 19601 N. 27th Avenue, Phoenix, for $110M. The property includes three, four-story buildings as well as a six-level parking structure. CBRE’s Barry …

Sales Transactions 1. A Chicago-based investment advisor purchased the first phase of the Lotus Project in Chandler, for an undisclosed amount, from Conor Commercial Real Estate and joint venture partner WHI Real Estate Partners. The …

Sales Transactions 1. TerraCap Management, LLC purchased Koll Cotton Center, a seven-building, 225.4KSF light industrial park at 4050 E. Cotton Center Boulevard, Phoenix, for $30.89M. JLL’s Senior Managing Director Mark Detmer and Senior Director Ryan …

Sales Transactions 1. Pacific Development Partners purchased Montreux, a 335-unit luxury mid-rise apartment asset at Desert Ridge in Phoenix for $117M. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus …

Sales Transactions 1. JLL Income Property Trust bought the Lotus Project, a four-building, 474KSF, Class A distribution center complex in Chandler for $91M, from Conor Commercial Real Estate. JLL Income Property Trust is calling the …

Sales Transactions 1. Investcorp purchased Tempe Commerce Park, a five-building, 536.1KSF, multi-tenant, light industrial park at 7340, 7350, and 7360 S. Kyrene Road and 7343 and 7333 S. Hardy Drive, Tempe, for $85.35M. The JLL …

Sales Transactions  1. Apartment Ventures NNC has purchased Village at Aspen Place, a 222-unit, Class A apartment community located within Aspen Place at the Sawmill in Flagstaff, for $64.5M, from an undisclosed seller.   2. Barker Pacific Group purchased a Class A self-storage portfolio …

Sales Transactions 1. Millburn & Company purchased Heritage at Deer Valley, an 832-unit multifamily community at 3010 W. Yorkshire Drive, Phoenix, for $178.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix …

Sales Transactions 1. Funds managed by Oaktree Capital Management, L.P. recently purchased The Core Chandler, a 220-unit, Class A multifamily community in Chandler, for $65M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch …

Sales Transactions  1. An affiliate of The Milestone Group has purchased two multifamily assets totaling 448 apartment units through a recapitalization valued at approximately $85M. The first is Pavilions at Arrowhead, a 248-unit garden-style complex at 7400 W. Arrowhead Clubhouse …

Sales Transactions  1. TerraCap Management, LLC purchased Anchor Centre, a 333KSF, Class A office asset at 2201 and 2231 E. Camelback Road, Phoenix, for $103.5M. The JLL Capital Markets team consisting of Director Ben Geelan, Senior Managing Director Michael Leggett …

Sales Transactions  1. MG Properties purchased Andante Apartments, a 576-unit, 32-building complex at 15801 S. 48th Street, Phoenix, for $145.25M, from Security Properties. CBRE Capital Markets financed $99.5M in new Fannie Mae debt.  2. Equity LifeStyle Properties purchased the Dolce Vita multifamily residential complex for …

Sales Transactions  1. TruAmerica Multifamily acquired Pointe at South Mountain Apartments, a 38-building, 364-unit multifamily complex at 8809 S. Pointe Parkway, Phoenix, for $80M, from ConAm Group of Companies. CBRE Capital Markets arranged $54.997M in new Freddie Mac debt for the deal.  …

Sales Transactions  1. TM Equities purchased Watermark at Gateway Place, a 250-unit class A, Big House multifamily community at 4454 E. Ray Road, Gilbert, for $84.35M, from Watermark Residential. Steve Gebing and Cliff David of Institutional Property Advisors brokered the sale.  2. …

Sales Transactions 1. A group of investors led by Colorado investor Daniel Feiner purchased Alanza Place Apartments, a 360-unit multifamily asset at 1121 N. 44th Street, Phoenix, for more than $90M. Berkadia’s Andrew Curtis, Mark …

Sales Transactions  1. Millburn & Company acquired Parc South Mountain, a 258-unit multifamily property at 3400 E. Southern Avenue, Phoenix, from Evergreen Development Company for $60M. CBRE Capital Markets arranged $39.565M in new Fannie Mae debt for the deal.  2. …

Sales Transactions  1. Apex Capital Investments Corporation purchased Grand2, a nine-story, 358KSF, Class AA office building at 1033 W. Roosevelt Way, Tempe, for $187.5M. CJ Osbrink from Newmark represented the seller, Lincoln Property Company, in the sale of Grand2, in cooperation with Newmark’s Kevin …

Sales Transactions 1. An undisclosed buyer purchased The Retreat at the Raven, a 192-unit garden-style multifamily property at 3606 E. Baseline Road, Phoenix, for $49.2M. Senior Managing Directors Mark Forrester and Ric Holway and Senior …

Sales Transactions 1. An undisclosed buyer represented by Martin Cohan of Marcus and Millichap, Steve Gebing  and Cliff David of IPA, purchased Riata, a 300-unit Class A multifamily community in Chandler for an undisclosed amount. …

Sales Transactions  1. PCCP acquired the District at Chandler, a 340-unit, four-story apartment complex at 2222 W. Frye Road, Chandler, for $95M. The seller was an entity tracing to Kaplan Management Company and The Carlyle Group. Great American Insurance Group provided $63.5M …

Sales Transactions  1. D.R. Horton Inc. paid $245.5M for 2,783 acres at the SEC of Elliot and Meridian roads, as the winning bidder in Wednesday’s Arizona State Land Department auction. D.R. Horton outbid Shea Homes and two partnerships named Stone Hill Land Partners LLC and Superstition Vista 2783 LLC.  …