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Commercial Real Estate & Business News – August 7, 2015

August 7, 2015 by Nick Miner, CCIM   No comments   Filed Under: Daily News

NXRT/BH Equities Spends $116 Million to Buy Portfolio of 1,114 Apartments
Companies formed by NexPoint Residential Trust Inc. and BH Equities LLC paid $116 million (blended average of $104,129 per unit) to purchase 1,114 apartment units in three Valley communities. The sellers in three separate transactions were companies formed by Bascom Arizona Ventures LLC… Read more »
Retailers, Restaurants Line Up for Peoria Project
A Midwest-based retailer would anchor the P83 District’s retail component under plans submitted to city officials, the developer said. Mike Oliver, managing partner of Peoria Sports Park, LLC, also said his group has been talking with a hotel and envisions adding restaurants “unique to Peoria”… Read more »
Tempe OKs GPLET for Apartments, Hotel
The Tempe City Council has approved property tax breaks for proposed high-rise condos and a hotel. The council approved a property tax deal with Minneapolis-based Opus Development Co. for a planned 3.2 acre project near University Drive and Forest Avenue at its meeting Thursday. The development is slated to include a 20-story apartment tower and possibly a grocery store. It is in the midst of Arizona State University’s main campus in Tempe… Read more »
Dwell Apartments at Scottsdale and McDowell Sells for Over $14 Million
The 193-unit Dwell Apartments located west of the northwest corner of Scottsdale and McDowell Roads sold yesterday for a total price of $14.275 million. The 52-year old complex consists of 25 residential buildings constructed into a unique “L” shaped pattern on six acres… Read more »
Carefree approves Butte Cos. $45M condo development
The Carefree Town Council has approved a new $45 million condo development near Tom Darlington Drive and Cave Creek Road… Read more »

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Nick Miner, CCIM

ORION Investment Real Estate
7150 E. Camelback Road
Suite 425
Scottsdale, AZ 85251

480-226-8037
nick@nickminer.com

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