Liviu Oltean
Westwood Financial Adds 25th Retail Asset in Texas
Westwood Financial Corp., a national owner and operator of grocery-anchored retail properties, recently acquired its 25th retail asset in Texas. The firm closed on Legacy Ranch, a 95,000-square-foot neighborhood shopping center located at 4851 Legacy Dr. in Frisco, Texas.
Pinnacle Financial Announces Acquisition of Memphis-Based Magna Bank
Pinnacle Financial Partners, Inc. recently announced that it has entered a definitive agreement to acquire Memphis-based Magna Bank. The proposed merger, which has been approved by each company’s Board of Directors, is expected to close sometime in Q4 2015.
Select Income REIT Acquires Farmers Insurance Building
The Farmers Insurance Building located at 16001 N. 28th Ave. in the Arizona Business Park was recently sold for $16.85 million to Select Income REIT. The Newton, Mass.-based REIT acquired the 106,397-square-foot office building from an entity belonging to Sabal Financial Group.
Executive Insight: Kevin Finkel, Resource Real Estate
By Liviu Oltean, Associate Editor Phoenix’s multi-family market is on the rise. This year the metro area climbed five positions to 17th place in Marcus & Millichap’s National Apartment Index. Job growth is a critical factor in Phoenix’s improved standing. According to a CBRE Econometric Advisors forecast, more than 66,800 office-using jobs will be added […]
Billionaire Tilman Fertitta Announces Groundbreaking for New Mixed-Use Project
Billionaire Tilman Fertitta recently announced that work has started on The Post Oak, a mixed-use, master-planned project located in the Galleria and Uptown area along West Loop South in Houston. The project has been designed by Gensler and consists of a 35-story, 650,000-square-foot tower and a 30,000-square-foot ballroom and conference center.
Rosewood Property Breaks Ground on New Mixed-Use Project in Plano
In a matter of years, a vacant tract in Plano located between Alma and Custer roads will become a thriving community if everything goes as planned for Dallas-based Rosewood Property Co.
USAA Real Estate Announces 25-Asset Industrial Portfolio Recapitalization
USAA Real Estate Co. announced recently the recapitalization of an industrial portfolio totaling more than 14 million square feet. The portfolio included 25 industrial assets scattered across 11 states as well as two excess land parcels.
Saxa, Caliber Team Up for Spec Project in N. Scottsdale
Scottsdale-based SAXA Inc. and Caliber Cos. entered a joint venture to develop Bahia 101, a 40,000-square-foot commercial office building in North Scottsdale. The project will rise on a 2.5-acre tract located south of Bell Road on Bahia Drive and is the first new Class A development in the area since 2009.
BMW Group Breaks Ground for New Distribution Center
In an attempt to better serve the various BMW and MINI car dealerships scattered across Texas, Oklahoma, Louisiana and Arkansas, BMW Group recently broke ground for a new vehicle distribution center in Galveston, TX.
MIG Real Estate Closes on Ninth Multifamily Asset in Texas
Newport Beach, California-based MIG Real Estate recently closed on its ninth multifamily investment in Texas. The firm acquired Regency at Stonebridge Ranch, a 301-unit townhome apartment community in McKinney, Texas.