Monthly Archives: August 2017

By Beth Mattson-Teig for National Real Estate Investor The development boom underway in the seniors housing space has not put a damper on confidence. Exclusive survey results from the fourth annual NREI / NIC Seniors Housing Market Study indicate a more positive outlook across the board on questions related to improving fundamentals, access to capital and transaction […]

By Tim Stellar for Arizona Daily Star Eleven years ago, it felt like a grand redevelopment of downtown Tucson’s convention-center hotel was imminent. It was a $185M deal with the city to redevelop the Hotel Arizona, at 181 W. Broadway, which had recently dropped its Radisson branding. The existing hotel would be renovated, and new […]

By Roland Murphy for Arizona Builder’s Exchange While pricing trends have been mixed, Phoenix area land sales in the first half of 2017 have accelerated, according to a Colliers International in Greater Phoenix report. Land parcel sales rose 11 percent from the second half of 2016, and transactions jumped 50 percent from the first half […]

Sales Transactions 1. Newmark has secured $57.55M in new long-term financing for two separate manufactured home communities in Apache Junction. Patrick Barkley and Chad Metzger worked with the borrower in arranging non-recourse financing with two of Newmark’s agency relationships. The transactions were: $36.66M for a 400+ pad, 55 and older, 5-star manufactured home community located on […]

Source: Hines International real estate firm Hines has entered into a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client, as its equity partner to develop the Offices at Chandler Viridian. The Offices at Chandler Viridian is a six-story, Class A office building with 250KSF of space located at the intersection of […]

By Roland Murphy for Arizona Builder’s Exchange While I tend to lean slightly toward optimism, no one has ever accused me of a rose-colored worldview. Some of the reports that have crossed my desk recently have reinforced my, “That’s good news, but…” default outlook. Nearly everyone, including Millennials, is tired of stories focused on Millennials. […]

Groundbreaking 1. The “tiny house” project and teaching site — Micro on Madison — at Madison and 12th streets in Phoenix is the latest iteration of a dream by Build Us H.O.P.E. to build 1,200 units around the Valley for homeless and disabled vets. Work began Aug. 19. Another housing effort is underway for veterans near 13th Avenue and Buckeye Road […]

Awards & Accolades 1. AZLoop, Arizona’s SpaceX Hyperloop competition team, debuted its chassis pod half-size prototype and carbon fiber cover this week as one of the finalists helping to bring high-speed mass transportation closer to reality. The 100-plus Arizona State University student-led team is preparing for the final competition Aug. 27 at SpaceX headquarters in Hawthorne, […]

By Paul Maryniak for Ahwatukee Foothills News Kyrene School District is on its way toward its first pre-K-8 campus after the governing board last week approved $6.2M to expand the Kyrene Traditional Academy-Sureno Campus in Chandler. The board’s 4-1 vote came after Superintendent Jan Vesely urged it to begin “designing schools of the future” and […]

By Murphy Woodhouse for Arizona Daily Star When it comes to local youth soccer, football and other long-field sports, participating in major tournaments often means hitting the road to Phoenix and other cities across the West with larger facilities. That also means that millions of dollars worth of spending — and the tax receipts it […]