San Diego – The Westin La Paloma Resort & Spa in Tuscon, Arizona and the Westin Hilton Head Island Resort & Spa on Hilton Head Island, South Carolina won court approval on Tuesday, January 17, 2012, to emerge from bankruptcy. The ruling marks a new beginning and a return to prominence for both resorts managed […]
Marriott’s $4M in Upgrades Underway
Work has begun on refurbishing parts of the midtown Fort Collins Marriott. While cosmetics get some much-‐deserved attention, operations also are getting an overhaul. A new general manager and sales director are now on duty, hoping to boost business at a property that got its newest owner in early September in a $23 million deal. […]
SWVP Adds to Chandler Holdings
A company formed by Southwest Value Partners in San Diego, California paid $4.415 million in a cash transaction to buy a 34-‐acre parcel located north of the Ocotillo community at the northwest corner of Dobson and Queen Creek roads in Chandler. The seller was Starpointe Metropointe Developments LLLP in Scottsdale. The parcel is now zoned […]
SWVP Acquires Interest in Crossroads of Tempe
Tempe -‐ Crossroads of Tempe LLC, a venture formed by ViaWest Properties LLC in Phoenix and Southwest Value Partners in San Diego, California, paid $4.055 million ($36.19 per foot) to acquire a 112,060-‐square-‐foot office-‐retail project at the northwest corner of Elliot and Kyrene roads in Tempe. The seller was a company formed by Castle & […]
Beaten-Down Markets Find New Fans
Some of the savviest investors on Wall Street, including some who made billions on the housing bust, now are snapping up barren plots of land in places like Las Vegas and Phoenix. Hedge fund Paulson & Co., which made a fortune wagering that the housing market was overvalued three years ago, is now making a […]
Partners Buy the Rest of Merrill Ranch
Southwest Value Partners and GoldenTree InSite Partners (GTIS Partners) announced that they have acquired almost the entire remaining Merrill Ranch property, and even a small part of Anthem at Merrill Ranch. With the partners’ 4,500- acre purchase, only about 80 acres still belong to the Merrill family trust. The Merrills sold 3,200 acres to Pulte […]
Land Prices Jump as Home Builders Move In
Foreclosures and depressed prices are still hammering the Phoenix housing market. Yet home builder PulteGroup Inc. this month had to fight off six other bidders to win land in the suburb of Gilbert. In Arizona and across the U.S., home builders are battling to acquire land lots in preparation for ramping up home construction. While […]
SWVP Venture Spends $27.65 Million for 4,508 Acres at Merrill Ranch
Pinal County – Companies formed by Southwest Value Partners in San Diego, Calif., paid just over $27.65 million to buy 4,508 acres in a planned community in the Florence area of Pinal County called Merrill Ranch. The seller was a consortium of lenders, including Merchants and Farmers Bank in Greene County, Ala. The buyer was […]
Pulte Sells Multiple Parcels for $27.7 Million
Buckeye/Phoenix/Florence – In multiple sales totaling $27.7 million, Pulte Home Corp. in Scottsdale (John Chadwick, pres.) has sold land in Maricopa and Pinal counties that is planned for 5,648 homes. The buyers in six separate transactions were companies formed by Starwood Land Ventures in Bradenton, Fla., and Southwest Value Partners in San Diego, Calif. Starwood […]
Richmond American Buys 221 Lots in Palm Valley
Richmond American Homes of Arizona Inc. in Phoenix (Todd Demarets, div. pres.) paid $6.568 million in cash to acquire 221 finished lots within the Palm Valley community located in Goodyear. The seller was SunCor Development Co. in Tempe (Steve Betts, CEO). On the same day of that sale, Richmond American resold 145 of the home […]