October 29, 2004 A venture between Crown Pacific Properties and AEW Partners IV has paid $34 million for Sunscape Apartments, a 442-unit complex in Scottsdale, Ariz.The property, at 3500 North Hayden Road, was built in 1979 and consists of 37 ...
October 28, 2004 The Arizona RepublicBiltmore Fashion Park, a Phoenix mall anchored by Saks Fifth Avenue and Macy's, is to undergo a renovation and possibly the addition of residential condominiums. Mall owner Westcor, a local subsidiary of Macerich Co., continues ...
October 22, 2004 Banc of America Community Development Corp. has purchased Paradise Club Apartments, a 288-unit complex in Phoenix.BofA provided $11.25 million in financing for the purchase and rehabilitation of the 288-unit property. The property was built in 1983 as ...
October 14, 2004 Deer Valley Village Apartments, an 832-unit complex in Phoenix, has traded hands for $71 million, or about $85,285/unit. Archstone Smith sold the property to a group of 1031 Exchange investors represented by SCI Real Estate Investments of ...
October 14, 2004 The Arizona RepublicCrown Realty & Development Corp., the new owner of the La Posada Resort in Paradise Valley, Ariz., is in negotiations to redevelop a neighboring resort, the shuttered Mountain Shadows. Host Marriott, owner of Mountain Shadows ...
October 14, 2004 The Arizona Republic (Second item)SCI Real Estate Investments of Los Angeles and a group of investors paid $70.95 million for the 832-unit Deer Valley Village apartment complex at 3010 W. Yorkshire Drive in north Phoenix. The complex ...
October 13, 2004 Arizona Central (First item)The Carlyle Group of Washington, D.C., has sold the Airport Technology Center, a two-building office complex at 4127-4129 E. Van Buren St., to Bedford Property Investors of Lafayette, Calif., for $31.2 million. The two ...
October 12, 2004 The Business Journal of PhoenixA 1,000-room Sheraton is planned for downtown Phoenix. It would be the state's largest hotel. The site of the hotel, 2.8 acres at the corner of Van Buren and Third streets, was chosen ...
October 8, 2004 Arizona Business Gazette (Third item)The Arrowhead Commerce Center, a three-building complex at 8643 W. Kelton Lane in Peoria, Ariz., was sold by Jackson-Shaw Arrowhead to MECG-Arizona for $13.2 million.
The upscale Casa Paloma Shopping Center in Chandler is under contract for $331/sf. The deal works out to a capitalization rate of 6.4 percent.
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