Home

Anchor Centre sale hits $96 million

By Inman News, Friday, February 8, 2008.

A limited liability company has sold Anchor Centre, a 333,265-square-foot office complex in Phoenix, Ariz., for a price of $96 million.

Located in the Camelback Corridor, the property at 2201 and 2231 E. Camelback Road was constructed in the early 1980s.

Aslan Realty Partners III LLC, a partnership led by California-based Transwestern, purchased the property from 2201 Camelback Associates LLC, a partnership led by Denver-based Alliance Commercial Partners.  more...

Dallas industrial space fills up

By Inman News, Friday, February 8, 2008.

Grubb & Ellis Co. recently brokered more than 104,000 square feet of lease deals in the Dallas, Texas, metro area for undisclosed amounts.

In the first transaction, Panolam Industries International signed a lease for 68,174 square feet of industrial space in Carrollton. The space, owned by Holt Lunsford Commercial, is located at 1135 Crowley.

In the second transaction, Club Car Inc. secured a lease for 24,570 square feet of industrial space in Arlington. The property is located at 525 Great Southwest Parkway and is owned by GSW Properties LLC.  more...

Augusta Ranch retail purchased at $234 a square foot

By Inman News, Friday, February 8, 2008.

Brokerage Marcus & Millichap recently arranged the sale of Augusta Ranch Marketplace, an 80,247-square-foot shopping center in Mesa, Ariz., for a price of $18.7 million.

Paulsen Armp LLC sold the property to TME Augusta Ranch LLC .

Located at the southwest corner of Baseline and Crimson roads, the shopping center consists of four multitenanted retail buildings and one vacant parcel situated on 10.39 acres within the master-planned Augusta Ranch community.  more...

MGIC tightening underwriting standards in 30 markets

By Inman News, Friday, February 8, 2008.

Thousands of borrowers in 22 states will no longer be able to obtain private mortgage insurance from MGIC Investment Corp. after March 3, when the company raises its minimum standards in 30 restricted markets.

The latest changes to MGIC's underwriting standards follow warnings from company executives that they expect a $1.3 billion fourth-quarter loss on Feb. 13, and that MGIC will stay in the red in 2008 as it pays out up to $2 billion in claims (see Inman News story).  more...

Congress OKs stimulus bill, loan limit increase Premium Content

By Matt Carter, Friday, February 8, 2008.

Bush administration officials renewed their calls for Congress to pass legislation tightening oversight of Fannie Mae and Freddie Mac Thursday, as Congress signed off on a plan to allow the companies to guarantee or purchase loans that exceed the $417,000 loan limit.

Senate Democrats on Thursday abandoned an attempt at a broad expansion of a $150 billion economic stimulus bill backed by the Bush administration and approved by the House last month.  more...

Nightly real estate rates up again

By Inman News, Friday, February 8, 2008.

Long-term mortgage interest rates continued higher Thursday, and the benchmark 10-year Treasury bond yield climbed to 3.76 percent.

The 30-year fixed-rate average rose to 5.57 percent, and the 15-year fixed rate gained to 5.04 percent. The 1-year adjustable rate edged up to 5.07 percent.

The 30-year Treasury bond yield was up at 4.51 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.  more...