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.
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.
PHOENIX — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged the sale of three seniors housing properties near Phoenix. The portfolio includes two skilled nursing facilities and an independent and assisted living facility. The names of the properties, buyer and seller were not disclosed. In connection with the transaction, Harborview arranged $37.4 million in HUD financing for the buyer. The loan features a 35-year term at a fixed rate. Eli Kutner originated the loan, along with the firm’s principals Ephraim Kutner and Jonathan Kutner.
SIERRA VISTA, Ariz. — A limited liability company has purchased the 60-unit Sierra Antigua apartments for $2 million. The community is located at 800 N. Lenzner Ave. in Sierra Vista, just southeast of Tucson. Hamid Panahi and James Crawley of Marcus & Millichap represented the buyer. Panahi, Crawley and Cliff David and Steve Gebing of the same firm represented the seller, also an LLC.
TEMPE, ARIZ. — A partnership between Gramercy Property Trust and TPG has acquired Nexus at ASU Research Park, a 123,864-square-foot office building in Phoenix, for $27.6 million. The Class A building is situated just off Loop 101 in the ASU Research Park. The building is fully leased to an online retailer. Amenities at the park include a day care center, six miles of jogging and bike trails, lakes, a helipad and security patrol. JLL’s Mark Detmer, Bo Mills, Mark Gustin and Ryan Sitov executed the sale. The seller was a joint venture between ViaWest Group and Blue Vista Capital.
SCOTTSDALE, ARIZ. — SLR and NHR Turnstone LLC have acquired the 64,949-square-foot Turnstone Office Park in Scottsdale for $10 million. The four-building complex is located at 17767 to 17797 N. Perimeter Drive in the Scottsdale North/Airpark submarket. The park is situated within the Perimeter Center. NGKF’s Erik Marsh and Nicole Iglehart represented both the buyer and the seller, Turnstone Office Park LP, in this transaction.
PHOENIX — Scientific Technologies Corp. has leased 26,174 square feet of office space at a warehouse and distribution site that is being converted into an office building. The space is located at 411 S. 1st St. in Phoenix. The site was formerly occupied by Phoenix Packaging Products. The property is being converted to creative office space as part of an adaptive reuse project. Jim Sadler and Darius Green of Keyser represented Scientific Technologies Corp., while CBRE’s Corey Hawley and Jimmy Cornish represented the landlord, 1st Buchanan LLC, in this transaction.
SCOTTSDALE, ARIZ. — CBRE Group Inc. has arranged the sale of Scottsdale Towne Square, a 162,259-square-foot shopping center located in Arizona. The property was 95.7 percent occupied at the time of sale by tenants including Natural Grocers, Ra Sushi and First Watch. Bob Young, Glenn Smigiel, Steve Brabant and Rick Abraham of CBRE represented the seller, Holualoa Scottsdale Retail LLC. Woodbury Corp. acquired the property. The sale price was not disclosed.
GILBERT, ARIZ. — Abington Emerson Investments has purchased a 73,283-square-foot industrial property in Gilbert for $5.5 million. The property is located at 1405 N. Fiesta Blvd. It was built in 1998. CBRE will act as the leasing agent. The firm’s Barry Gabel, Chris Marchildon, Brian Raczynski, Tim Watters, Evan Koplan and Mike Parker represented the seller in this transaction.
PHOENIX — Cypress Office Properties has begun renovation work on the Renaissance Square office building in Phoenix. The building is located at 40 N. Central Ave. The $50 million renovation will span both towers. The first tower will feature a “tech” atmosphere that contains a lobby with a live plant wall and integrated technology for digital signage. The second building will feature boutique-style interior finishes with a warm hospitality feel. The first phase of the renovation will include a $10 million investment that will upgrade both buildings’ lobbies, the lower level lobby and elevators. It will also include the creation of a 7,000-square-foot, multi-purpose conference facility and multiple office suites. Wespac Construction is acting as the general contractor, while Craig Coppola of Lee & Associates Arizona will serve as the leasing agent.