PHOENIX—New York City-based American Realty Capital has purchased the Freeport McMoRan Center for $110 million. The seller was CPE Office Owner LLC, a company formed by National Real Estate Advisors LLC out of Washington DC.
PHOENIX—ABI Multifamily has brokered the sale of a North Paradise Valley, 128-unit, multifamily property, Waterford on Tatum Apartments for $14 million or $110,742 per unit.
PHOENIX—Companies formed by Westport, CT-based Greenfield Partners paid $41 million to purchase 575,430 square feet of office and industrial buildings in Phoenix and Tempe. In five separate sales, the seller was RREEF America REIT II Portfolio L.P., which is managed by Deutsche Asset & Wealth Management in Chicago.
PHOENIX—ABI Multifamily has brokered the bulk condominium sale of Scottsdale Haciendas, a condo conversion community that is located in Scottsdale. The purchase consisted of 79 garden-style condominium and townhome units (out of an original 180 units total on the property) and transferred HOA control to the buyer.
PHOENIX—In this edition of Deal-Tracker, Coastal Properties Corp. from Alberta, Canada has purchased Hidden Cove, a 150-unit multi-family property located at 2001 W. Union Hills Dr. in Phoenix, from Rosebud LLC of Beverly Hills.
PHOENIX—Shari Stults, vice president/mortgage banker at NorthMarq Capital's Phoenix based regional office, secured $10.5 million in acquisition financing for Palm Valley Office Park I & II, located at 1616 & 1646 N. Litchfield Rd. in Goodyear.
PHOENIX—ABI Multifamily announces the sale of Southern Ridge, an apartment community platted as individual condos, located in Mesa. The sellers in the transaction included 57 separate ownership groups.
PHOENIX—Institutional Property Advisors, a division of Marcus & Millichap serving the needs of institutional and major private real estate investors, has arranged the sale of Indigo Creek, a 408-unit multifamily commercial real estate investment property in Glendale. The $40.5 million sales price equates to $99,000 per unit.