Notable Transactions

Macerich Co. sold its 50% stake of Biltmore Fashion Park to a regular project partner, Red Development, which now takes full ownership of the shopping center. The historical center is home to a mix of high-end retailers such as Saks Fifth Avenue, Anthropologie, Life Time Fitness, Ralph Lauren and Macy’s. It also includes a variety of popular restaurants including Blanco, Zin Burger, Capital Grill and Seasons 52. 

“Red Development is honored to acquire full ownership of Biltmore Fashion Park, now making one of the state’s most important and historical properties into a locally owned and operated landmark,” said Mike Ebert, managing partner of Red Development in a statement to the Phoenix Business Journal. 

Landmark Title was happy to manage the escrow and title for this high-profile transaction.

Decron Properties purchased Tamarron Apartments for $128 million. The multifamily community in Phoenix includes 328 garden-style units. Landmark Title provided escrow and title services on the transaction.

Our Kierland office recently completed the title and escrow on the six-bedroom, 8^_1/2-bath luxury estate built. The 15,000 square foot home situated on 4.7 acres…

This project includes 450,000 square feet of office and retail space, restaurants, bike paths and easy access to light rail and parking. Multi-family housing, a hotel and senior living facility are planned, along with include the addition of the $100,000 million health sciences campus for the new Creighton University Campus.

Landmark Title handled closing for the new luxury hotel. HCW is the developer for Caesars Entertainment Corporation and Macerich on the 11-story, 260,000 square-foot luxury hotel under construction at the corner of Highland Avenue and Goldwater. It is the first non-gaming hotel for the Caesars brand. It will include 265 rooms, a 7000 square-foot ballroom and multiple large meeting spaces.

Landmark Title handled the transaction for the purchase of nearly 28 acre home to CrackerJax amusement park in Scottsdale. Acquired by billionaire George Kurtz, the co-founder and CEO of cybersecurity company CrowdStrike from CrackerJax Land Company LLC, a newly formed Delaware-based limited liability company. Kurtz plans to transform the space into a mixed-use campus for technology innovators and entrepreneurs.

Landmark Title closed the loan refinance for two buildings that are part of MetCenter, a mixed-use industrial office park featuring 345,600 square feet.

Orlando, Florida-based ZOM Living purchased a total of 33 acres out of bankruptcy proceedings in Phoenix and Scottsdale, paying $82 million for the…

Project includes 450,000 square feet of office and retail space, restaurants, bike paths and easy access to light rail and parking. Multi-family housing, a hotel and senior living facility are planned, along with include the addition of the $100,000 million health sciences campus for the new Creighton University Campus.

Landmark Title handled the transaction for Saint Holdings sale of 1,027 acres to Saint Solar, which is controlled by Florida Power & Light Company, a subsidiary of NextEra Energy Inc.

for new electric car factory in Casa Grande, which will have a finished value of approximately $700 million. The transaction was in escrow for 3 ½ years and involved an assemblage of 9 separate parcels of land from multiple owners, a resale to Pinal County and concurrent lease to Lucid.

Landmark Title handled the closing on the financing of Block 23, a  mixed-use project in Downtown Phoenix. The development will be home to the area’s first grocery store by Fry’s Food Stores, 330 apartments and 200,000 square feet of office, restaurant and retail space.

Landmark Title Assurance Agency handled the escrow for the $47 million sale of a north Scottsdale shopping center. The deal set a record for the highest price per square foot for a retail plaza in the Phoenix market.

The seller was RHVT Limited Partnership and the buyer was LaSalle Investment Management in Chicago, Illinois. Transaction reported in Business Real Estate Weekly (BREW).

Landmark Title Assurance Agency closed transaction in Tucson

Landmark Title Assurance Agency handled the closing of four multifamily properties.

The sellers of the four properties were companies established by Trillium Residential LLC. In January 2015, an entity led by T.M. Equities of Salt Lake City purchased 292-unit Trillium Cave Creek apartments for $42.5 million. Trillium Papago, a 270-unit complex was sold to MG Properties Group of San Diego in February for $36.25 million. North 7th Street Acquisition LP purchased Trillium Deer Valley, a 360-unit complex for $48.712 million and Trillium North, a 274-unit complex for $42.487 million. All transactions were reported in Business Real Estate Weekly (BREW).

Landmark Title Assurance Agency handled the title and escrows on the purchase of 1,100 acre Bella Vista Farms in Pinal County and an adjacent 17.4 acres, planned for residential and commercial development as recently reported in BREW.

Multi State Resort Refinance

Canadian investor pays $38.25 million to purchase 328-unit apartment. Seller was a 1031 exchange company in New York.

2 phase acquisition of apartment project in Chandler, AZ

Shopping Center Refinance, Phoenix,AZ (12-15)

721 TIC Roll-up/Debt Refinance with Receivership – Las Vegas, NV

$21,331,500.00

HUD Multifamily Construction Financing – Scottsdale, AZ

Multi-site/Multi-State Loan transaction – AZ and CA

Sale of Auto dealership site

Refinance of Memory Care Facility – Chandler, AZ

Sale of vacant land in Flagstaff scheduled for multifamily project

Sale of vacant land in Flagstaff scheduled for multifamily project

Sale of former citrus storage facility for redevelopment with new SBA financing – Mesa, AZ