Commercial Real Estate & Business News – July 17, 2013

A Los Angeles-based investor, Farid Safaie-Kia, has purchased Lakeview Village out of special servicing for $12.15M or $106 per square foot. No debt was recorded with the sale. The seller was LNR Partners as special servicer for the benefit of a US Bank-administered commercial mortgage-backed security (CMBS)…. Read more

Local Developer Sells Luxury MF Property

Local developer Alta Vista Communities LLC has sold its 85-unit Aerie at Tanque Verde luxury apartments to Tanque Verde Holdings LLC, a private investor based in Santa Barbara, CA. The seller disposed of the multifamily property for $12 million less than a year after it opened… Read more

Phoenix No. 6 for Commercial Loan Delinquency Rate

New research shows the Phoenix area posted the sixth-highest delinquency rate in the nation for commercial loans at the end of the second quarter. Close to 16 percent – or $1.26 billion – of the Valley’s outstanding commercial loan balances were delinquent on their payments at the end of June… Read more

13 Phoenix-Area Hospitals Ranked as Best by U.S. News & World Report

Of all 56 hospitals in the Phoenix metro area, 13 were named best regional hospitals by U.S. News & World Report. At the top of the list was Mayo Clinic, which touts 10 nationally ranked specialties and three high-performing specialties… Read more

Homebuilder Confidence Soars Higher

Home builder confidence hit a new milestone this month, posting its third consecutive monthly gain in July and its strongest reading in more than seven years, according to a statement Tuesday by the National Association of Home Builders/Wells Fargo Housing Market Index… Read more