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GREEN VALLEY, AZ-Construction is under way on a dual-pronged Alzheimer's project for La Posada at Park Centre in Green Valley. The bulk of the cost is allocated to a 163-unit complex for patients of the specialized care facility.
HOUSTON-Cardtronics will use its new space as it headquarters as well as for storage and servicing of ATM equipment. At last count, Vantage Cos.' two-year-old business park was 82% occupied.
PHOENIX-Wells Fargo had a few decisions to make about the Kitchell Metro Center along Black Canyon Freeway. In the end, the banker buys a 138,000-sf office building and adjacent lot plus steps up an expansion plan.
HOUSTON-Locally based Anderson Co. gets clearance on a 10-year loan from GE Capital Real Estate. Three self-storage complexes, totaling 1,277 units, in Houston's northwest and southwest submarkets secure the financing.
HOUSTON-Zenith Properties takes a small step forward in finding tenants for a 40%-occupied office building along Richmond. Farmers Insurance signs for 4,246 sf at the 92,539-sf building. A neighboring property also gets a new deal.
HOUSTON-CalSTERS rakes in $650,000 more than the asking price for a 19-year-old complex that attracted 21 offers in two weeks. Denver's Archstone Communities is the buyer of the 256-unit, 13-building property.
HOUSTON-The German investment group, Kapital Consults, implements a new investment strategy by taking out multiple loans against 17 luxury multifamily properties in Houston and Phoenix. Loans ranged from $5 million to $27 million.
HOUSTON-Peramco president Doug Eibsen says it's time to roll on commercial development at Houston's most northern tip. Eibsen's new 1,200-lot golf community will boast a tract, with a three-acre lake, for just that purpose.
HOUSTON-A joint venture between Chicago-based AMLI Residential and Erie Insurance Group sells 438 units in two complexes in Houston's ever-popular northwest submarket. The JV acquired the holdings in 1994.
ALBUQUERQUE-The New Mexico real estate company is ready to wheel and deal for tenants on the 170,000-sf One Sun Plaza. Sun Healthcare, now out of its Chapter 11, stays put in a 60,000-sf office building that's been leased for 10 years.