Read the original article here by Ellen Barber, Forbes Magazine. “Job growth and strong in-migration continue to fuel the desert Southwest,” says this source. And Phoenix is a prime example. Through the third quarter of 2019, the metro added 54,300 jobs year-over-year, Cushman & Wakefield reports. And Arizona as a whole continues to see net population gains […]
Multifamily
Read the original article here by Greg Isaacson, Multi-Housing News. Image courtesy of CBRE. MG Properties Group has acquired Biscayne Bay, a 512-unit apartment community in Chandler, Ariz., from Everest Holdings for $110.3 million. The sale price equates to $215,332 per unit or $232 per square foot for the asset located at 300 E. Warner
Tempe – In two deals totaling a combined $67.3 million ($142,585 per unit blended average), joint venture entities formed by Investcorp International Inc. in New York City, N.Y. and TruAmerica Multifamily in Los Angeles, Calif. (Robert Hart, pres.) acquired 472 apartment units in two properties located less than one mile apart in Tempe. The sellers
Original Article from the Business Real Estate Weekly of Arizona. Chandler – …Everest Holdings in Scottsdale (Joe Blackbourn, principal)…paid $71.5 million ($139,648 per unit) to acquire the 512-unit Biscayne Bay apartments located at 300 E. Warner Road in Chandler. The seller was Biscayne Bay Apartments L.P., formed by PrivatePortfolio Group LLC in Seattle, Wash. (Jim
OVERVIEW As we begin 2015, most home builders are trying to put 2014 behind them as one of the more disappointing years in recent history. Despite some optimism at the end of 2013 that the continued economic recovery would create demand for new housing, that demand never materialized. In some areas the demand actually softened.
Original Article from the Business Real Estate Weekly of Arizona. Phoenix – A company formed by Belkorp Industries Inc. in Vancouver, B.C., Canada (Stuart Belkin, CEO) paid $21.85 million ($91,042 per unit) to acquire 240 units within the 280-unit San Riva multi-family project located at 2155 E. Liberty Lane in Phoenix. The seller was Everest
Original Article from the Business Real Estate Weekly of Arizona. MARICOPA COUNTY – A venture formed by Everest Holdings in Scottsdale (Joe Blackbourn, principal) paid just under $15.70 million ($68,652 per unit) to acquire 230 units within the 280-unit San Riva multi-family project at 2155 E. Liberty Lane in Phoenix. The seller was San Riva