REBusinessOnline

Arizona

Security Properties, Pacific Life Insurance Co. Buy Andante Apartments in Phoenix for $85.2M

PHOENIX — A joint venture between Security Properties and Pacific Life Insurance Co. has purchased the 576-unit Andante Apartments in Phoenix for $85.2 million. The community is located at 15801 S. 48th St. The property will undergo a renovation, which will update the clubhouse and unit interiors. Security Properties-affiliate Madrona Ridge Residential will manage the property.

May 25, 2017

P.B. Acquisitions LLC Purchases Club 7 Apartments in Phoenix for $19M

PHOENIX — P.B. Acquisitions LLC has acquired the 219-unit Club 7 Apartments in Phoenix for $19 million. The community is located at 3030 N. 7th St. The property sits on 7.3 acres in the Midtown Phoenix submarket, across the street from the Phoenix Country Club. It underwent a renovation in 2015 and 2016. Todd Braun and Bryson Fricke of Lee & Associates represented the seller, 3030 North Equity LLC, in this transaction.

May 24, 2017

Core Spaces to Deliver Six Student Housing Communities in 2018

FLAGSTAFF, ARIZ. — Chicago-based Core Spaces is set to deliver six student housing communities in summer 2018. Developments include Hub on Campus Flagstaff, a 591-bed community near Northern Arizona University. Other Hub on Campus communities will be built in West Lafayette near Purdue University; Minneapolis near the University of Minnesota; Ann Arbor near the University of Michigan; Tuscaloosa near the University of Alabama; and Orlando near the University of Central Florida.

May 24, 2017

HFF Arranges $26M Sale of Mixed-Use Development in Scottsdale

SCOTTSDALE, ARIZ. — HFF has arranged the $26 million sale of The Village at Hayden, a 156,751-square-foot mixed-use development located in Scottsdale. The property is home to retail and office tenants including Capital Consultants Management, Company Nurse, Phoenix Photonix, Zipps Sports Grill, Twisted Grove, Melting Pot and Grassroots Kitchen. CJ Osbrink and Derreck Barker of HFF marketed the property on behalf of the seller, Village at Hayden LLC, which is a partnership between AEW..

May 23, 2017

Young’s Market Co. Purchases Distribution Asset in Phoenix for $20M

PHOENIX — Young’s Market Company has purchased a 248,900-square-foot refrigerated/cold storage industrial building in Phoenix for $20 million. The building is located at 402 S. 54th Place. It was built in 1999 and renovated in 2003. Andy Markham, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented the family-owned wines, spirits and select beverages distributor. The seller was Barley Equites V LLC.

May 19, 2017

RJ Development Buys Parcel Near Phoenix for $40M Independent Living Community

CHANDLER, ARIZ. — Colliers International has brokered the sale of a 5.8-acre parcel in the Phoenix suburb of Chandler for $3.2 million. The buyer will use the land to build The Park at Copper Creek, a $40 million independent living community. RJ Development is building the property. The Park at Copper Creek Independent Living will span approximately 170,000 square feet of space across 135 units. Koelsch Communities is the sponsor of the project, and Koelsch Construction will be the..

May 17, 2017

Monument Capital Management Buys Brookwood Apartments in Tucson for $13M

TUCSON, ARIZ. — Monument Capital Management has acquired the 272-unit Brookwood Apartments in Tucson for $13 million. The community is located at 201 S. Kolb Road. Common-area amenities include a courtyard, pool, spa, game room, dog park, laundry facilities and barbecue area. Brookwood Apartments features one- and two-bedroom, garden-style homes with eat-in kitchens, walk-in closets and private patios or balconies. Monument Capital Management plans to implement value-add upgrades..

May 16, 2017

CA Senior Living Breaks Ground on Two Communities in Arizona

ORO VALLEY AND GILBERT, ARIZ. — CA Senior Living LLC, the senior housing investment and development division of Chicago-based CA Ventures, has broken ground on seniors housing communities in the Tucson suburb of Oro Valley and the Phoenix suburb of Gilbert. The Gilbert community, Quail Park at Morrison Ranch, will total 115 units across two stories on a 4.5-acre plot. Chicago-based BKV Group designed the $25 million property. The Oro Valley community, Quail Park of Oro Valley, will..

May 15, 2017

HJ Sims Provides $5.1M in Financing for Development of Independent Living Community in Arizona

GLENDALE, ARIZ. — Investment bank HJ Sims has provided $5.1 million in financing for the construction of an independent living community in the Phoenix suburb of Glendale. An affiliate of Sante Partners is developing the property, which has not yet been named. Once completed, a large, national operator will manage the community. This will be Sante’s sixth development. The financing is structured as a mezzanine loan and preferred equity investment.

May 11, 2017

Healthcare Trust of America Acquires Medical Office Portfolio in SoCal, Arizona for $150M

SCOTTSDALE, ARIZ. — Healthcare Trust of America has purchased an 11-property medical office building portfolio based in Southern California and Arizona for $150 million. The portfolio contains a total of 592,000 square feet. The assets are 83 percent leased. They are primarily situated on the Dignity Health campuses. The acquisition includes McAuley Medical Center on the St. Joseph's Hospital and Medical Center campus in downtown Phoenix.

May 10, 2017