Phoenix
Gelt Buys Tempe M-F Complex for $15M; IHG Opens Holiday Inn Express in Scottsdale
In a $15 million deal, Gelt Inc., has purchased Versante Apartments, a 240-unit multi-family complex in Tempe. The Tarzana, Calif.-based company made the value-add transaction with Prudential Real Estate Investors.
Inland American Pays $103M for Student Housing Project in Tempe
One of Phoenix’s hottest property types, student housing, is on the rise thanks to constant demand and enrollment increases at Arizona universities.
Grand Canyon U. Picks DMB Site in Mesa for New Campus
Grand Canyon University will locate its second East Valley campus at Eastmark, a 3,200-acre master-planned community being developed by DMB Associates in Mesa. GCU will purchase 100 acres, with an option to buy 60 additional acres. “In selecting the Eastmark site, we were especially impressed with the integrated community concept […]
Alliance Residential Grabs High-End Chandler M-F Asset for $37.5M
In a $37.5 million deal, Phoenix-based Alliance Residential Co. has acquired Villa Pallavicini, a 290-unit high-end rental apartment community located about two miles north of Chandler’s Price Corridor. The sales price equates to $129,310 per unit.
Cornerstone Realty Pays $26.1M for Lincoln Commerce Park 2
By Alex Girda, Associate Editor In a $26.1 million deal, a joint venture of Lincoln Property Co. and Invesco Realty Advisors sold Lincoln Commerce Park 2, a 336,665-square-foot complex in Phoenix, to an affiliate of Cornerstone Realty Advisers L.L.C., Business Real Estate Weekly of Arizona reported. The 336,665-square-foot, four-building complex is part of Lincoln Commerce […]
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