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BH Properties Expects Continued AZ Growth

LOS ANGELES-In this EXCLUSIVE Q&A, GlobeSt.com chats with the firm's EVP and general counsel on the firm's more aggressive stance in Arizona, and its strategy going forward.

By Natalie Dolce | Updated on February 07, 2014

LOS ANGELES-In December, BH Properties ended the year with the $13.4-million purchase of Gilbert Town Square. The transaction, involving a 159,000-square-foot class A retail shopping center located within the highly affluent Phoenix submarket of Gilbert, AZ., was another in the firm’s strategy for the Arizona market.“This purchase was a key component in our Southwest strategy,” says Steve Jaffe of BH Properties. Jaffe noted that subsequent to the Gilbert Town Square purchase the company purchased another multifamily apartment complex as well as another retail shopping center in January. “We expect to continue our growth in Arizona and in our other core markets in 2014 by purchasing both stabilized assets with some opportunity for growth as well as non-performing assets.” GlobeSt.com recently chatted with the EVP and general counsel of the firm on the Phoenix multifamily market, why industrial is interesting, and future plans in the region.

GlobeSt.com: BH Properties ended the year with a big class-A retail purchase in Gilbert, AZ and said it was looking to acquire more in the Arizona market. What kind of assets are you seeking and why? 

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