Regions Southwest
Aug 29, 2008
Nelson Brothers Professional Real Estate, a one-year-old firm based in Aliso Viejo, Calif., has completed its first Tenant-in-Common transaction with the purchase of Palm Valley La Piazza Retail Center in Goodyear, Ariz. Suncor Development Co., developer of the 30,500-square-foot property, served as the lender and executed a carry back loan for the remaining equity for up to 24 months. Palm Valley occupies a nearly five-acre parcel within the retail corridor of the burgeoning West Phoenix submarket and is presently 100 percent occupied. Nobeus Property Management has been brought on board to assist the new ownership in tapping into the shopping center's upside potential. Nelson Bros., which focuses its activities on the western and southwestern regions of the country, was established to engage in the acquisition, financing and ownership of retail, office and multifamily assets for TIC investments.
Nelson Brothers Professional Real Estate, a one-year-old firm based in Aliso Viejo, Calif., has completed its first Tenant-in-Common transaction with the purchase of Palm Valley La Piazza Retail Center in Goodyear, Ariz. Suncor Development Co., developer of the 30,500-square-foot property, served as the lender and executed a carry back loan for the remaining equity for up to 24 months. Palm Valley occupies a nearly five-acre parcel within the retail corridor of the burgeoning West Phoenix submarket and is presently 100 percent occupied. Nobeus Property Management has been brought on board to assist the new ownership in tapping into the shopping center's upside potential. Nelson Bros., which focuses its activities on the western and southwestern regions of the country, was established to engage in the acquisition, financing and ownership of retail, office and multifamily assets for TIC investments.
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