Phoenix

PHOENIX-With preleasing at 88%, PC & Development LLC starts work on the $12.5-million Plaza Mayor. A 30,000-sf Hacienda Market will anchor the 62,000-sf project.

PHOENIX-Cornerstone Real Estate Funds buys the 96%-leased Pinnacle Park Business Center II from its developer, LaPour Partners.

TEMPE, AZ-After paying $18.8 million for the deed, Bronco Real Estate will put another $2 million into upgrading the 92%-leased Cameron Creek Apartments.

SCOTTSDALE, AZ-The investment group snags the 100%-leased Raintree Office Center for its portfolio for $21.1 million, using 1031 exchange funds and assuming its debt.

SCOTTSDALE, AZ-Crown Pacific and Centrum Properties get a one-year loan to finish the last 140 apartments in the 442-unit Sunscape Villas conversion.

TEMPE, AZ-Months after selling another multifamily property, Nuvida Ventures plows its 1031 exchange money into the 172-unit Paxton on Rural.

PEORIA, AZ-The Southern California investment group buys the 10-year-old Northwest Garden with 1031 exchange funds from the sale of a 1953-built complex in the metro.

PEORIA, AZ-The JV sells the 163-unit high-end townhouse project to PrivatePortfolio Group of Seattle. With the deal done, the JV is looking to sell the 240-unit sister.