Western Real Estate Business

MAY 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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C A L I F O R N I A 24 • May 2018 • Western Real Estate Business www.REBusinessOnline.com S O U T H W E S T NORTHMARQ CAPITAL DEBUTS NEW MULTIFAMILY INVESTMENT SALES BUSINESS IN PHOENIX PHOENIX — NorthMarq Capital has debuted the new NorthMarq Multi- family business, which opened with a 10-person multifamily investment sales team headquartered in Phoe- nix. This new team marks the begin- ning of NorthMarq Capital's selective geographic expansion of multifam- ily and manufactured housing invest- ment sales services across the country. The team was formerly known as the HSK team and led by Trevor Koskov- ich, who will now serve as president of NorthMarq Multifamily. Koskov- ich will retain his current production team. In addition to Koskovich, five other brokers have joined NorthMarq Capital this month, including Bill Hahn, executive vice president; and vice presidents Jesse Hudson, Cynthia Meister, Thomas Olivetti and Don Ve- deen. Affiliated brokers Meister and Olivetti are based in Albuquerque and Las Vegas, respectively. The rest of the team is based in NorthMarq Capital's Phoenix office at 3200 E. Camelback Road. James DuMars continues to lead the debt and equity business for NorthMarq Capital in Phoenix. NORTH AMERICAN DEVELOPMENT BUYS ONE-ACRE PARCEL IN PHOENIX FOR $100 MILLION RESIDENTIAL PROJECT PHOENIX — Florida-based North American Development Group has acquired a one-acre parcel within Arizona Center Project in downtown Phoenix. San Diego-based Parallel Capital Partners sold the site within the 16-acre development for an undis- closed price. North American Devel- opment plans to construct Palm Court Tower, a 30-story residential tower on the site at 440 E. Van Buren St. Slated for completion in 2020, the $100 mil- lion project will feature 350 residenc- es, a swimming pool terrace, a six-lev- el parking garage and a fitness facility. The residences will range from studio to three-bedroom units in eight dif- ferent floor plans. Phoenix-based Will Bruder Architects & Forum Studio is designing the development, which is slated to break ground in late 2018. BLUEPRINT ARRANGES SALE OF 100-UNIT ASSISTED LIVING PORTFOLIO IN ARIZONA PEORIA AND MESA, ARIZ. — Blue- print Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in Arizona for an undisclosed price. Each property features 50 units. The first, located in Peoria, has been vacant since 2008. The second, located in Mesa, has been vacant since 2013. The buyer of the Peoria property is a regional owner-operator looking to expand its presence in Arizona. The buyer of the Mesa property intends to convert the community into a drug treatment center. The seller was not disclosed. Blueprint's Amy Sitzman handled the transactions. RADIANT SENIOR LIVING BUYS MEMORY CARE COMMUNITY IN NEVADA SPARKS, NEV. — Radiant Senior Liv- ing has acquired Arbors Memory Care, a seniors housing community in the Reno suburb of Sparks. The seller was the independent owner-opera- tor of Arbors. The price was not dis- closed. Radiant owns and operates 18 assisted living and memory care com- munities in the West. Design Build Projects by LM Construction Company Coming Soon Need more information? Contact Larry at (702) 262-6032 or Visit our website at www.lmconstructionco.com Nevada NV Llc. B20042596A NV Llc. C40047156 Idaho ID Llc. RCE 25716 Arizona AZ Llc. ROC234591 Utah UT Llc. 6132191-5501 Near Rainbow Blvd and Sunset Rd Approx. 146,200 Sq Ft. 215 Corridor Grade Level Doors Near Durango Dr and Buffalo Dr Approx. 78,000 Sq Ft. 26 Ft Clear ESFR Sprinklers Concrete Tilt-Up CIMARRON C O R P O R AT E C E N T E R Palm Court Tower will bring 350 multifamily units to the newly renovated Arizona Center Project in downtown Phoenix.

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