SCOTTSDALE, AZ-Woodbine Development Corp., Cook Inlet Region Inc. and Starwood Hotels & Resorts place permanent financing against the two-year-old resort. The five-year, non-recourse mortgage represents 62% of the resort's total value.
HOUSTON-Auto Insurance Discounters Inc. relocates to 6330 W. Loop South, picking up the class B office space from Conoco Phillips. The deal gets inked with a significant discount to the market rate of $17.50 per sf.
SUN CITY, AZ-The Ryerson Co. will break ground in early 2005 on its ninth seniors housing project in the Valley. Heritage Cottages will bring another 17 duplex buildings and 35 independent living units in a final building wave for the 14-acre Heritage Campus.
PHOENIX-Swing First Golf acquires the Golf Club at Johnson Ranch, an 18-hole, par 72 championship course in the Southeast Valley for $2.6 million. The Club, which opened in 1997, is the first acquisition for the newly created company.
HOUSTON-Life Time Fitness Inc. breaks ground on a sports and fitness center in the 7,200-acre, master-planned community. The facility will be the company's third in the Houston area and eighth in Texas.
GALVESTON, TX-The local developer and owner of the 556-unit apartment portfolio pursues a refinance after a sale falls through, locking in a first mortgage loan of $15.3 million at a 5.2% fixed-rate interest from CIBC World Markets.
LITCHFIELD PARK, AZ-The new owner, led by Jan Storey of Evergreen, pays $31.1 million for Remington Ranch, 304 units in upscale Litchfield Park, and $25.7 million for the Club at Coldwater, an under-construction, 251-unit development in Avondale.
PHOENIX-Career Success High School picks up the Black Canyon Business Center at 3816 N. 27th Ave. for $1.7 million from ProLogis. The empty 32,480-sf building has been on the market two years.
TOLLESON, AZ-With Trammell Crow Co. at its side, McKesson Corp. breaks ground on a 155,000-sf distribution warehouse on 16.2 acres near the northeast corner of Buckeye Road and 107th Avenue.