CHANDLER, ARIZ. — SRS Real Estate Partners has arranged the $3.3 million sale of a childcare property, located at 3700 W. Ray Road in Chandler. Busy Bees occupies the 10,904-square-foot property, with 15 years remaining on its absolute triple-net lease. Alexander Moore of SRS Capital Markets represented the buyer, a California-based private investor. The seller was a Phoenix-based investment group.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a multi-property medical office portfolio in Tucson. A private investment group acquired the asset from an undisclosed investment REIT for $6.1 million. The 42,722-square-foot portfolio consists of multiple leased medical buildings at 4892 N. Stone Ave. and the Green Valley Medical Mall at 1055 N. La Canada Drive. Thomas Nieman and Bryce Horner of Cushman & Wakefield | PICOR represented the seller in the deal.
MESA, ARIZ. — ATLAS Capital Partners, along with development partner Hawkins Development Co., has acquired 38 acres in Mesa for $13.8 million. The partnership plans to develop ATLAS Exchange, a four-building Class A industrial project, on the site at 4140 S. Signal Butte Road. ATLAS Exchange’s buildings will range from 40,000 square feet to 100,000 square feet. Design plans include an amenity-rich environment with shaded ramadas and pickleball courts. Construction is slated to begin in third-quarter 2025. Early lease negotiations are underway at ATLAS Exchange. Pat Harlan and Steve Larsen of JLL are handling leasing for the project. The JLL team also represented ATLAS and the seller, Brookfield Properties, in the sale transaction.
BUCKEYE AND YUMA, ARIZ., AND SANTA CLARITA, CALIF. — JLL and HJ Sims have arranged $239.7 million in tax-exempt and taxable bond financing for the Integrated Senior Foundation — Ativo Portfolio, a seniors housing portfolio in Arizona and California. The portfolio includes 430 independent living, assisting living and memory care units. There are two ground-up development communities and one acquisition — Ativo of Sundance in Buckeye, Ativo of Yuma in Yuma and Ativo of Santa Clarita within the Sand Canyon Plaza master-planned community in Santa Clarita. On behalf of Integrated Senior Foundation, JLL’s Seniors Housing Capital Markets team, in collaboration with the bond underwriting team of HJ Sims and JLL Securities, secured fixed-rate financing with a final maturity of 40 years. The financing consisted of $218.2 million of publicly offered tax-exempt senior series 2025A bonds, $5.9 million of taxable senior series 2025B bonds and $15.5 million of tax-exempt subordinate 2025C bonds. Slated for completion in 2027, Ativo of Sundance will feature 102 independent living units, 75 assisted living units and 30 memory care beds, while Ativo of Santa Clarita will feature 51 independent living units, 65 assisted living units and 28 memory care beds, with completion scheduled for later this year. Ativo …
PHOENIX — ZOM Living has secured financing for the development of Azola Desert Ridge, a multifamily community in Phoenix. The funding includes a joint venture equity investment from Origin Investments and construction financing totaling $88 million. Located along the Loop 101 Freeway at 56th Street, Azola Desert Ridge will offer 416 apartments spread across four-story buildings in a garden-style multifamily community that is slated to deliver by third-quarter 2026. Azola Desert Ridge will offer one-, two- and three-bedroom units ranging from 730 square feet to 1,533 square feet, a resort-style pool and deck, a fitness center, dog park, pet grooming salon, a glam room, podcast room, individual offices for residents and a self-service market along with lounge areas. Mike Higgins, Asher Gunter, Matt Pesch and Austin Groen of CBRE Multifamily Equity Advising team represented the sponsor to arrange the joint venture equity investment with Origin Investments.
QUEEN CREEK, ARIZ. — Scottsdale, Ariz.-based Mountainside Fitness has purchased a land parcel at the northwest corner of Combs and Gantzel roads in Queen Creek for the development of a new fitness club location. Slated to open in December 2025, the single-story, 42,000-square-foot Queen Creek Mountainside Fitness offer state-of-the-art equipment and more than 70 daily group fitness classes, as well as locker rooms and a childcare program. Mountainside Fitness currently operates 21 high-end clubs across metro Phoenix. Regan Amato of JLL represented Mountainside Fitness, while Rommie Mojahed of CRE8Advisors represented the undisclosed seller in the deal.
FLAGSTAFF, ARIZ. — Liv Communities, in partnership with Wespac Residential and Vintage Partners, has broken ground on Liv Sky Cottages, a 203-unit multifamily property within Flagstaff’s Timber Sky master-planned community. Situated on 32 acres, Liv Sky Cottages will feature 117 one-bedroom, 35 two-bedroom and 51 three-bedroom residences, with 10 percent of the units reserved for individuals and families earning below the area median income. Community amenities will include a dog park, playground, garden beds, walking paths and gathering spaces for residents. Additionally, the property will offer bike storage, a compactor, electric vehicle chargers, three frisbee golf targets and a checker/chess area.
TUCSON, ARIZ. — Winterhaven Investors LLC has acquired Winterhaven Square, a retail center in Tucson, from Glover Associates LP for $5.3 million. Located at 3102-3160 E. Fort Lowell Road, Winterhaven Square offers 35,300 square feet of retail space. Greg Furrier, Rob Tomlinson and Natalie Furrier of Cushman & Wakefield | PICOR handled the transaction.
SCOTTSDALE, ARIZ. — Phoenix-based CapMatrix Ltd., acting as exclusive capital markets advisors to Optima, secured a $37.1 million senior loan to provide financing for ongoing land and horizontal infrastructure improvements at Optima McDowell Mountain in Scottsdale. At completion, Optima McDowell Mountain will feature six residential towers offering more than 1,330 units of for-sale condominiums and rental units. The project is located at the southeast corner of Scottsdale Road and Loop 101 freeway. Western Alliance Bank provided the financing, which represented the first deal between Optima and Western Alliance.
BUCKEYE, ARIZ. — Kenco, a third-party logistics company, has signed a lease to fully occupy Gateway I-10, an industrial building located at 440 N. 215th Ave. in Buckeye. The landlord, EQT Real Estate, acquired the fully vacant 641,906-square-foot asset in spring 2024 and rebranded the property to its current moniker. Situated on 40 acres, the freestanding building is Phase I of a larger 145-acre project, titled Buckeye I-10 Logistics that BET Investments owns and continues to develop. Mike Haenel, Andy Markham, Phil Haenel and Justin Smith of Cushman & Wakefield represented the landlord in the deal with Kenco. Last year, Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt of the firm’s National Industrial Advisory Group – Mountain West arranged the $60.1 million sale to EQT Real Estate from the property’s original developer, BET Investments.
