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Village at Pioneer Park in Peoria, Arizona.
ArizonaBuild-to-RentDevelopmentFinanceNewsWestern

Empire Group Secures $120.5 Million in Financing for Two BTR Communities Near Phoenix

by Channing Hamilton

PEORIA AND GLENDALE, ARIZ. — Empire Group has secured $120.5 million in financing for two build-to-rent (BTR) communities in the Phoenix metropolitan area. Kyle McDonough and George Maravilla of Tower Capital arranged the financing on both deals. The Scottsdale, Arizona-based developer received a $78.5 million bridge loan to refinance Village at Pioneer Park, a 332-unit BTR community in the northwestern Phoenix suburb of Peoria. Built in 2022, the community includes amenities such as a clubhouse, pool, fitness center, pet wash station and dog park. Empire Group also received $42 million …

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McComber Creek Apartment Homes in Buena Park, California.
CaliforniaInvestment SalesNewsWestern

The REMM Group Acquires 1,000 Units Across Eight Properties in Southern California

by Channing Hamilton

SANTA ANA, CALIF. — The REMM Group, a property management company headquartered in Santa Ana, has acquired eight Southern California properties totaling over 1,000 units. The largest of the properties is McComber Creek Apartment Homes, a 348-unit community in Buena Park, California. McComber Creek offers studio, one- and two-bedroom apartments, as well as amenities such as a pool and two tennis courts.  The other seven properties include: Villa Creek Apartment Homes in Cypress, California; The Jagger in Los Angeles; Pasadena Village Apartment Homes in Tustin, California; Fountain Park Apartment Homes in Buena …

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South Pier at Tempe Town Lake in Tempe, Arizona
ArizonaDevelopmentFinanceNewsWestern

McBride Cohen Secures $53.2 Million in Financing for South Pier at Tempe Town Lake in Tempe, Arizona

by Channing Hamilton

TEMPE, ARIZ. — The McBride Cohen Co. has secured a $53.2 million mezzanine debt investment to develop the first phase of South Pier at Tempe Town Lake, a waterfront project on Tempe Town Lake in Tempe. The mezzanine debt investment loan was originated by Pearlmark on behalf of Pearlmark Mezzanine Realty Partners and a commingled investment vehicle managed by Waterton. Pearlmark is a Chicago-based investment firm that targets domestic core to value-add real estate opportunities. Waterton is a property investment and management company with a focus on multifamily, senior living …

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ColoradoFinanceNewsPeople NewsWestern

Tower Capital Adds Kevin Wieland to Leadership Team in Denver

by Channing Hamilton

DENVER — Kevin Wieland has joined Tower Capital as a Senior Vice President. In this role, Wieland will arrange debt and equity capital for investors to acquire, develop, reposition or refinance commercial projects in the Rocky Mountain Region and key West Coast markets. Wieland previously served more than 13 years at LaSalle Investment Management, where he was responsible for originating, sourcing, structuring, underwriting, and closing more than $1.3 billion in debt investments. He also held positions at Wells Fargo, CIM GROUP and Cushman Realty Corp. Wieland received a bachelor’s in …

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Affordable HousingCaliforniaNewsOperationsPeople NewsWestern

Alta Housing Adds Stephanie Shipe as Vice President of Property Management

by Channing Hamilton

PALO ALTO, CALIF. — Alta Housing has selected Stephanie Shipe as Vice President of Property Management. In this role, Shipe will manage over 1,000 units and a team of 35 professionals. Shipe previously served as the Director of Portfolio Management for the Housing Authority of the City of Alameda, California. Prior to this, she served as Director of Operations at MidPen Housing, a non-profit developer, owner and of affordable housing in California and was appointed to the City of Alameda Housing Authority’s Board of Commissioners. Shipe received a Bachelor of Science …

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CaliforniaNewsPeople NewsWestern

Northmarq Newport Beach Office Adds Morgan Machado as Vice President-Producer

by Channing Hamilton

NEWPORT BEACH, CALIF. — Northmarq has hired Morgan Machado to its Newport Beach office as vice president-producer. In this role, Machado will arrange debt and equity on behalf of U.S. investors for multifamily and commercial real estate. Prior to joining the company, Machado was a commercial mortgage banker at Slatt Capital. He earned a Bachelor of Business Administration in finance from the University of San Diego.

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Ho'omalu at Waikoloa Beach Resort in Waikoloa, Hawaii
Affordable HousingDevelopmentHawaiiNewsWestern

Waikoloa Vacation Rentals to Develop Affordable Housing Community in Waikoloa, Hawaii

by Channing Hamilton

WAIKOLOA, HAWAII — Waikoloa Vacation Rentals will develop Ho’omalu at Waikoloa Beach Resort, a 229-unit affordable community in Waikoloa. Ho’omalu at Waikoloa Beach will offer one-, two- and three-bedroom floor plans, as well as amenities such as a day care, pool, fitness center, barbeque area and community center. The community will be available to households earning between 30 and 100 percent of the area’s median income. The project is listed on the county of Hawaii’s website as being currently under development, and Waikoloa Vacation Rentals plans to break ground before the end of 2024.

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700 North 4th Street, a high-rise building in Phoenix.
ArizonaInvestment SalesNewsWestern

Weidner Apartment Homes Acquires 700 North 4th Street in Phoenix

by Channing Hamilton

PHOENIX — Weidner Apartment Homes has acquired 700 North 4th Street, a 27-story, 234-unit luxury multifamily asset in Phoenix. Steve Gebing, Cliff David and Peter Katz of Institutional Property Advisors (IPA) represented the undisclosed seller and procured the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk led the IPA Capital Markets team that arranged acquisition financing. 700 North 4th Street offers studio, one-, two- and three-bedroom apartments, as well as amenities such as a fitness center, pool and spa, demonstration kitchen with bar seating, and collaborative and private …

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Artesia in Everett, Washington
Investment SalesNewsWashingtonWestern

RISE Properties Trust Sells Artesia in Suburban Seattle for $61.6 Million

by Channing Hamilton

EVERETT, WASH. — MG Properties has purchased Artesia, a 192-unit apartment property in the Seattle suburb of Everett, from RISE Properties for $61.6 million. Giovanni Napoli Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA) represented the seller and procured the buyer. IPA Capital Markets team Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson arranged the acquisition financing. Built in 1990 and updated between 2018 and 2022, Artesia’s units feature quartz countertops, stainless steel appliances, tile fireplace surrounds and reclaimed wood mantles.

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Moontower in Phoenix, Arizona.
ArizonaDevelopmentNewsWestern

LV Collective, Cross Harbor Capital Partners Begins Leasing Moontower in Phoenix

by Channing Hamilton

PHOENIX — LV Collective and Cross Harbor Capital Partners have begun leasing Moontower, a 326-unit project in Phoenix’s Roosevelt Row art district. JE Dunn is the general contractor for the project. Arvest Bank is providing the debt. Shepley Bullfinch is serving as architect and Michael Hsu Office of Architecture is providing interior design services. Greystar is leasing the property.  Moontower offers studio, one- and two-bedroom floor plans with rents starting at $1,790 per month. Community amenities include a coffee and cocktail bar, fitness center, rooftop pool deck, co-working and conference …

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