PHOENIX—Clear Sky Park Tower LP (dba, Clear Sky Capital Inc) purchased the 180-unit Park Tower apartments at 1283 West Parklane Boulevard in Chandler for $15.2 million.

TUCSON—Starwood Hotels & Resorts Worldwide, Inc. annnounces that it has completed the sale of Aloft Tucson University to Lightstone Value Plus Real Estate Investment Trust II, Inc., a public, non-traded REIT sponsored by The Lightstone Group, a privately held real estate company, for $19 million.

PHOENIX—MIG Real Estate, a California-based real estate investment company, has completed the acquisition of Quadrangles Village, a 510-unit apartment home community adjacent to Arizona State University. The purchase price was $41.8 million.

PHOENIX—Colony American Homes announces it has completed a securitization transaction backed by rental income from 3,399 homes from its portfolio of single family rental homes.

PHOENIX--Trammell Crow Company and partner Artis REIT will develop a class A, multi-phase industrial park featuring six buildings totaling 618,000 square feet in Gilbert.

PHOENIX—Bank of America Community Development in Dallas sold for $27.35 million Mill Pointe and 201 West, a pair of multifamily properties, located at 4130 S. Mill Ave. and 201 W. Hermosa Dr., respectively. The buyer was Gelt Inc. of Los Angeles.

PHOENIX—Hines announces the hire of four employees who have decades of experience in development, property management and construction, building a robust and strategic Phoenix team.

PHOENIX—Hines has been recognized by the US Environmental Protection Agency with the 2014 ENERGY STAR Partner of the Year-Sustained Excellence Award in recognition of continued leadership in protecting the environment through energy efficiency.