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      <title>GlobeSt. Topics - Phoenix</title>
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      <copyright>Copyright 2009 GlobeSt. Topics All Rights Reserved.</copyright>
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      <pubDate>Wed, 01 Jul 2009 09:36:39 CDT</pubDate>
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         <title><![CDATA[Diamonte Moves Into Foreclosure]]></title>
         <description><![CDATA[PHOENIX-Fairfield Residential defaults on a loan for the 454-unit Diamonte on Bell. An auction is scheduled for early September. ]]></description>
         <link>http://www.globest.com/news/1442_1442/phoenix/179529-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Elevation Chandler Death Knell Sounds]]></title>
         <description><![CDATA[CHANDLER, AZ-A recent trustee sale for the half-completed hotel/condo asset attracted no buyers, leaving mortgage holder Point Center Financial as the likely owner.]]></description>
         <link>http://www.globest.com/news/1440_1440/phoenix/179476-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[De Rito Moves Ahead on 1.1M-SF Scottsdale Pavilions]]></title>
         <description><![CDATA[SCOTTSDALE, AZ-The local developer has drained lakes on the retail project, with 23 acres available for development. Cosmetic upgrades have also been implemented.]]></description>
         <link>http://www.globest.com/news/1439_1439/phoenix/179448-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Alexan Paradise Lane Sells For $22M]]></title>
         <description><![CDATA[PEORIA, AZ-The second of sister complexes developed by Trammell Crow Residential and Opus West goes to an Illinois buyer.]]></description>
         <link>http://www.globest.com/news/1439_1439/phoenix/179449-1.html?st=rss</link>
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      <item>
         <title><![CDATA[186-Unit Redwood Place Bought From Lender]]></title>
         <description><![CDATA[PHOENIX-Local ESI Ventures makes its first multifamily buy, acquiring the class C complex from Vestin Mortgage for just shy of $6 million.]]></description>
         <link>http://www.globest.com/news/1434_1434/phoenix/179299-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Buyer Pays $20M for Distressed Villagio]]></title>
         <description><![CDATA[TEMPE, AZ-Stonecraft Homes beats out multiple offers for the 472-unit class B complex which had been foreclosed on in late 2008.]]></description>
         <link>http://www.globest.com/news/1431_1431/phoenix/179220-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Buyer Snatches 56 Units from Foreclosure]]></title>
         <description><![CDATA[TEMPE, AZ-The Canadian investor pays just over $3 million for Reach Apartments, making its first area buy.]]></description>
         <link>http://www.globest.com/news/1430_1430/phoenix/179189-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Opus West: We're Not Dead Yet]]></title>
         <description><![CDATA[PHOENIX-Rumors about the developer's pending Chapter 11 are just that right now, though a spokeswoman acknowledges restructuring is occurring. ]]></description>
         <link>http://www.globest.com/news/1427_1427/phoenix/179103-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Western National Hangs Phoenix Shingle]]></title>
         <description><![CDATA[PHOENIX-The multifamily property management company goes against the big names in the Phoenix market, already tucking 1,000 units in its portfolio. ]]></description>
         <link>http://www.globest.com/news/1424_1424/phoenix/179030-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Orion Snags 178-Unit Partial Condo]]></title>
         <description><![CDATA[PHOENIX-Less than four years after buying Citi on Camelback for conversion, Sunvest disposes of part of the asset for $12.4 million.]]></description>
         <link>http://www.globest.com/news/1423_1423/phoenix/179003-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Agency HQ Awarded Platinum]]></title>
         <description><![CDATA[PHOENIX-The Arizona Game and Fish Department's 83,000-square-foot building is the first in Phoenix to attain LEED Platinum certification.]]></description>
         <link>http://www.globest.com/news/1420_1420/phoenix/178932-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Scottsdale Airport Moves on Strategy]]></title>
         <description><![CDATA[SCOTTSDALE, AZ-The municipal airport unleashes its strategic business plan to determine future planning and development. ]]></description>
         <link>http://www.globest.com/news/1419_1419/phoenix/178901-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[SRS Real Estate Expands by Five]]></title>
         <description><![CDATA[PHOENIX-The company adds former brokers from RED Realty Advisors as it prepares to take advantage of current market conditions.]]></description>
         <link>http://www.globest.com/news/1414_1414/phoenix/178779-1.html?st=rss</link>
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      <item>
         <title><![CDATA[256-Unit La Mesa Village In Foreclosure]]></title>
         <description><![CDATA[MESA, AZ-An area broker familiar with similar properties says the market should expect more class B and C assets in the same position.]]></description>
         <link>http://www.globest.com/news/1413_1413/phoenix/178750-1.html?st=rss</link>
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      <item>
         <title><![CDATA[Former Staubach Retail Has Velocity]]></title>
         <description><![CDATA[PHOENIX-Staubach Retail Services-West is now Velocity Retail Group. The company also has $100 million targeted for distressed asset buys. ]]></description>
         <link>http://www.globest.com/news/1413_1413/phoenix/178751-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Changing Times Spur Reinvention, Change]]></title>
         <description><![CDATA[PHOENIX-A broker leaves large company to start a smaller, boutique business, while a Las Vegas developer sees foreclosed land going on the sales block. ]]></description>
         <link>http://www.globest.com/news/1411_1411/phoenix/178692-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Foreclosure Looms on 1,000-Plus Acres]]></title>
         <description><![CDATA[MESA, AZ-An assemblage that took Paragon Properties two years and $100 million to complete is in danger of going on the auction block.]]></description>
         <link>http://www.globest.com/news/1407_1407/phoenix/178573-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[Correction: Opus West Mall Files Chap. 11]]></title>
         <description><![CDATA[PHOENIX-The firm was hurt by construction loans it owes on Hill Country Galleria mall, in Austin, TX, according to reports.]]></description>
         <link>http://www.globest.com/news/1404_1404/phoenix/178484-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[McShane Takes On 103,000-SF HQ Rehab]]></title>
         <description><![CDATA[PHOENIX-The multi-million-dollar renovation for Climatec's regional headquarters includes exterior upgrades and a gut of the interior. ]]></description>
         <link>http://www.globest.com/news/1404_1404/phoenix/178475-1.html?st=rss</link>
      </item>

      <item>
         <title><![CDATA[NALS Steps Up Activity With 308-Unit Buy]]></title>
         <description><![CDATA[GLENDALE, AZ-The Scottsdale investor pays $23.2 million for Sage Stone at Arrowhead, and wants more class A product.]]></description>
         <link>http://www.globest.com/news/1400_1400/phoenix/178372-1.html?st=rss</link>
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