TEMPE, AZ-Mark-Taylor Residential secures a $24.5-million mortgage for the San Marbeya, which reaches 97% occupancy within 10 months of delivery. Valued at more than $40 million, the asset collateralizes a 10-year loan with a sub-6% fixed-rate interest.
MESA, AZ-The investment group gets a 40,980-sf, class B office building near the Maricopa County Government East Valley Campus for $5.8 million. The 18-year-old building is occupied by Renal Care Group and the county's public defender's team.
TUCSON-A local office condo developer gets a plastic surgeon to spend $594,000 for a to-be-built condo in La Cholla Corporate Center. The 3,396-sf, class A medical office condo is part of a 125,000-sf expansion plan.
HOUSTON-Bois d'Arc Energy LLC consolidates two offices on the 62nd and 63rd floor of JPMorganChase Tower, inking a seven-year lease for 16,285-sf of class A office on the 52nd floor. The lease brings the 75-story, 2 million-sf tower to 95% occupancy.
HOUSTON-The New York City-based seller realizes 30% more in proceeds by selling 371,209 sf of industrial buildings and 25 acres to five buyers instead of one. Ryder Stilwell grabs six buildings in two transactions to become the largest buyer in the stack.
PHOENIX-The Desert Shadows Village Apartments sits on the market for awhile before passing to Bascom Arizona Ventures LLC and Cleveland-based KeyBank Real Estate Capital. The new owners plan to sink $4 million into rehabbing the class B complex.
PHOENIX-Royal Paper Converting Inc. secures a $9.4-million, fixed-rate construction and permanent loan for a 318,000-sf manufacturing and distribution facility. The project will be completed in September.
PHOENIX-Royal Paper Converting Inc. secures a $9.4-million, fixed-rate construction and permanent loan for a 318,000-sf manufacturing and distribution facility. The project will be completed in September.
MESA, AZ-A two-building medical office complex near Banner Baywood Hospital passes to Kirkland, WA-based Western America Equities LLC, which represents 16 1031 exchange buyers. The buildings, totaling 56,348 sf, are 96% leased.
THE WOODLANDS, TX-Everson Developments buys a 3.1-acre site for the second phase of Research Forest Plaza and flips 1.4 acres to AmREIT for a 7,000-sf retail building. Everson's project will break ground in March.