SCOTTSDALE, AZ-An apartment developer based in Dallas has closed the first phase of a $30.6-million contract with DMB Associates Inc. for an empty plot at One Scottsdale. TDI Real Estate Holdings LLC gave out $16.6 million to purchase 17 acres of land at the 100-acre-plus mixed-use project.
TDI has plans to start the first phase of the two-phase project later this year and open 388 units by Q3 or Q4 2014. Michael Lieb Ltd. represented TDI and Nathan & Associates represented DMB in the deal. For the full story, go to Phoenix Business Journal .
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