Capital Real Estate entities paid a combined $41.35 million to acquire 349 apartments in projects in Phoenix and Tempe. The company paid $25 million to buy the 180-unit Mandarina apartments at 5402 E. Washington Street in Phoenix.
Denver-based Capital Real Estate recently acquired the 180-unit Mandarina Luxury Apartment Homes in Phoenix for $25M. The company now owns 2,449 units in the metro Phoenix apartment market. The seller was a private entity, NMS Property Services.
SMJ Investment Properties, LLC was the seller, represented by Derek Buescher, vice president at Orion Investment Real Estate.
Built in 2008, Westgate 95 is located steps away from Westgate Entertainment District, which offers a unique outdoor setting with many vibrant restaurants that include: Johnny Rockets, Buffalo Wild Wings, Saddle Ranch, Kabuki and Yard House, to name a few.
Arizona-based ORION Investment Real Estate facilitated the off-market sale of Desert Place Apartments, a 260-unit property that spans across 8 acres in Phoenix.
A prominently placed, HonorHealth-anchored medical plaza in Anthem was sold for $10,600,000, according to ORION Investment Real Estate.
Andrew Harrison and Ari Spiro at ORION Investment Real Estate represented both the buyer and seller in this transaction.
ORION Investment Real Estate represented SimonSCRE in leasing the building to Bush’s Chicken, and in the purchase of the property. Tim Gunnink and Andrew Harrison worked on the sale, representing SimonCRE.
Located on the outskirts of Old Town Scottsdale and minutes from Tempe, the property is well-situated to serve a dynamic trade area with a strong population base.
Zack Mishkin and Jamie Canute at ORION Investment Real Estate represented the seller in this transaction.
The sale of the 3,300-square-foot space, built in 1987 and renovated in 2008, was represented by Scottsdale-based Orion Investment Real Estate’s Senior Vice President Nick Miner and Vice President Derek Buescher.
A 14,500-square-foot industrial facility in the Scottsdale Airpark sold to SWAKE Holdings LLC, according to ORION Investment Real Estate, which represented SWAKE.
“We received multiple offers on the property and it ended up closing for full asking price,” Nick Miner said.
Christopher Roach, Matthew Roach, and Joseph Dietz of ORION Investment Real Estate negotiated the off market transaction.
Country Club Greens Apartment Homes, 350 W. 13th Place in Mesa, totaling 68 units, closed for $6,025,000 ($88,603/unit). The building was fully occupied at close of escrow.
The Phoenix Business Journal is proud to announce another outstanding class of up-and-coming business leaders in its annual 40 Under 40 recognition.
“This was surplus real estate for the seller who is a local non-profit,” ORION’s Nick Miner said.
An Asia-based tea company has chosen Tempe as its first location in the United States. The Taiwan tea company boasts 270 stores throughout Asia, but has yet to open a location in North America.
Orion Investment Real Estate’s Judi Butterworth brokered the lease. The new restaurant is scheduled to open in January.
Nick Miner, senior vice president at Orion Investment Real Estate, represented Mountain Park in the deal. “This acquisition provides expansion for their current location,” Miner said.
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