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Commercial Real Estate News 05-25-21

May 25, 2021 - Arizona Builders Exchange

Sales Transactions

1. Tides Equities purchased Terrace Park Apartments, a 213-unit value-add apartment complex at 8130 W. Indian School Road, Phoenix, for $37.86M, from Western Wealth Capital. NorthMarq’s Phoenix investment sales team of Trevor Koskovich, Bill Hahn, Jesse Hudson, and Ryan Boyle brokered the sale.

2. Taylor Morrison bought 165.78 acres of land at the NEC of 91st Avenue and Camelback Road, Glendale for $29.5M, from Jacob F. Long. Taylor Morrison is planning to use the land for Phases Two and Three of Stonehaven, a proposed 628-lot single-family subdivision. The brokers were Bret Rinehart, Ryan Semro, and Greg Vogel of Land Advisors Organization.

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