Tag: Phoenix

Boston REIT Buys Three High-Rises, Arizona’s Tallest Residential Building

High Rise Facilities | August 14, 2013
Boston REIT Buys Three High-Rises, Arizona’s Tallest Residential Building

A Boston-based REIT, Winthrop Realty Trust, has entered into a binding purchase agreement to acquire four recently constructed class A luxury apartment buildings for an aggregate purchase price of $246 million, including the tallest residential building in Arizona. The four properties, including three high-rises, were all built to condominium specifications prior to a lender foreclosure.

44 Monroe, located in Phoenix, Arizona, is a 34-story residential building comprised of 184 units originally built for sale as condominiums with 1,377 square feet of ground level retail space.

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Phoenix Office Market Vacancy Falls to Under 26%

High Rise Facilities | January 14, 2013
Phoenix Office Market Vacancy Falls to Under 26%

During the fourth quarter 2012, Metropolitan Phoenix’s Office market recorded overall vacancy of 25.7% and positive net absorption of 1,256,546 SF. That marked the fourth consecutive quarter of declining vacancy for office space and overall net absorption that more than doubled 2011′s total. According to a report by Cassidy Turley, the fourth quarter of 2012 absorbed 1,256,546 square feet of […]

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Developer Pushes Forward With Sky Tower in Tempe, Arizona

Press Release | January 11, 2013
Developer Pushes Forward With Sky Tower in Tempe, Arizona

The Continental Group is a company that is focused on the development of large multi-family residences like that of the proposed Sky Tower project in Tempe, Arizona. The Sky Tower, upon completion, will be one of the most luxurious towers ever to be built in the state of Arizona, and will be a fixture in […]

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Berkadia Acquires One of the Nation’s Largest Multifamily Investment Sales and Research Firms

Press Release | January 9, 2013
Berkadia Acquires One of the Nation’s Largest Multifamily Investment Sales and Research Firms

Berkadia Commercial Mortgage LLC (Berkadia), one of the nation’s leading commercial real estate lenders and servicers, today announced the expansion of its U.S. presence through its acquisition of Hendricks & Partners. With 37 offices nationwide, Hendricks & Partners’ encompasses more than 180 apartment professionals throughout the country.  The firm is regarded as a leader in […]

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Parkway Properties Purchases 20 Story NASCAR Plaza in Charlotte

Press Release | January 3, 2013
Parkway Properties Purchases 20 Story NASCAR Plaza in Charlotte

Parkway Properties has completed the previously announced purchase of NASCAR Plaza for approximately $100 million. NASCAR Plaza was built in 2009 and is a 20-story, LEED(R) Silver certified office tower. Parkway assumed the first mortgage secured by the property, which has a current outstanding balance of approximately $42.3 million with a current interest rate of […]

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Phoenix Observation Tower Development Announced

Press Release | December 20, 2012
Phoenix Observation Tower Development Announced

Phoenix is the nation’s sixth largest city and the hub of the American Southwest, but its downtown skyline lacks an architectural emblem worthy of its emerging status, according to real estate developer Novawest. Commissioning Bjarke Ingels (BIG), a Danish architect based in New York, and drawing on the experience of a team of operations and […]

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