PHOENIX—PCCP, LLC announces it has provided a senior loan to Alberta Development Partners to acquire and entitle a 1.86-acre mixed-use development land site in Tempe.

PHOENIX—Banner Estrella Medical Center is opening a new patient tower. The 178-bed, $161 million patient tower will open in phases, ultimately taking the campus from 214 to 392 licensed beds.

PHOENIX—Overton Moore Properties (OMP) acquired a new asset under its newly formed venture with Pacific Coast Capital Partners and an institutional partner. The venture is committed to acquire $80 to $100 million of industrial real estate in the Phoenix market within the next two to three years.

PHOENIX—BH Properties has added a Class A retail center to its Arizona portfolio as the firm positions itself for growth in the state in 2014.

PHOENIX—It's good news for the Phoenix medical office market as momentum was gained in the fourth quarter, with net absorption reaching nearly 100,000 square feet and healthcare employment on the rise.

PHOENIX—A return of the traditional investor may have helped keep the multifamily market active in 2013, especially in the apartment sector. Also helping, distressed properties that flooded the market from 2008-2011 have diminished substantially.

PHOENIX—It may be a pile of rubble now, but the million dollar view hasn't changed a bit. Mountain Shadows Resort, once one of tony Paradise Valley's premier resort destinations, is going to be restored to its former glory.

PHOENIX—A Scottsdale retail center anchored by Safeway and CVS Pharmacy fetched an impressive $44.5 million, announces Cassidy Turley. The 160,228-square-foot Shea Scottsdale was sold to an entity formed by Jerry Simms. The seller was Karlin Real Estate of Los Angeles.