Principal Asset Management and IRA Capital announced the acquisition of American Groves, an institutional Class-A senior living community in Gilbert, a suburb of Phoenix, Arizona, for $44.5 million. The sale was facilitated by JLL Seniors Housing Capital Markets on behalf of the seller, American Care Concepts and Reichmann International Realty Advisors, which developed the … [More]
Chamber Announces Contest for ‘Hottest Thing Made in Arizona’
The Arizona Chamber of Commerce & Industry and the Arizona Manufacturers Council kicked off the third annual Hottest Thing Made in Arizona competition, a statewide contest spotlighting the most innovative products made in the Grand Canyon State. Open to manufacturers of all sizes, from global brands to small businesses and artisan producers, the contest is designed to … [More]
Phoenix City Manager Jeff Barton Announces Retirement
After more than 25 years of dedicated service to the City, Phoenix City Manager Jeff Barton announced his retirement effective on November 14, 2025. The announcement comes after a distinguished career, including the last four years as City Manager. Beginning his career with the City as an internal auditor in 1999, Barton served the City of Phoenix in … [More]
$180M Refinance Announced for Scottsdale’s Four Seasons Resort
Braemar Hotels & Resorts Inc. announced that it has successfully refinanced the existing mortgage loan secured by the Four Seasons Resort Scottsdale at Troon North. The previous loan had a balance of $140 million with an interest rate of SOFR + 3.75% and a final maturity in December 2028. The new non-recourse loan has a balance of $180 million and bears … [More]
City Office REIT Announces $266M First Closing of Phoenix Portfolio Sale
City Office REIT, Inc. announced that it has completed the first closing in the sale of its Phoenix portfolio for gross sale proceeds of $266 million. The sale represents six of the Company's seven properties located in Phoenix. The Company's Pima Center property continues to be under contract at a $30 million gross sales price. Pima Center is expected to close at a later date, … [More]
