The Dealmaker: 3/6/2017

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The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox.




Amusement park gets first approval from CG commission before big crowd; Rose Law Group Director of Transactions, Cameron Carter, makes the pitch. (Disclosure: Rose Law Group represents the developers of Dreamport Villages.) “Citizens stood, huddled outside [City Hall Council] chambers’ entrance and along the room’s walls, curious to hear about [Dreamport Villages].” Read/WATCH this Casa Grand Dispatch report on the “unanimous” approval of Block Sports’ “land-use request for 1,500 acres it plans to develop into [the] destination resort.” Plus, see what Cameron Carter has to say about Block Sports’ “experience” and the company’s “commit[ment] to bring[ing] this project to fruition.” —>

$126M Watermark to start construction. “[T]he 15-acre… development on [Tempe Town Lake’s] north side… is about to take off after nearly six years of planning, timing calculation and community interaction…. [Fenix Development’s] Watermark [comprises] 2.2MSF of office space, 63.5KSF of commercial, 993 multifamily units and 251 hotel rooms. The multifamily component, known as Aura Watermark, is under separate development by Trinsic Residential Group.” (A separate AZBEX report states that Trinsic “hopes to begin construction of… Aura Watermark in September.”) For a “FIRST LOOK” at Watermark and further details on both projects, click it:

Scottsdale Community College breaking ground on new facility. “[The] new 33,000-square-foot building… will house its Business School…  Business is the school’s largest occupational program.” Susan Peterson, interim Dean of Instruction: “We’ve been working on this for several years, with the goal of growing our program and producing more business school graduates and transfer opportunities…” But this new building isn’t ALL about business. See what else the facility will include, at AZ Business Magazine.

Development explodes along light rail line. “The sleek trains that ride… from Mesa’s venerable Mormon temple, westward through Tempe’s towering downtown… are delivering a tide of urban redevelopment that promises new residents, jobs and a vertical, futuristic new streetscape.” East Valley Tribune looks at several of the “rail-oriented projects,” including Papago Gateway Center, the senior centers Encore on Farmer and Encore on First, “the Motley, a block-long, seven-story complex by Lennar Multifamily Communities,” and the 21-acre “Sycamore Station.”

Case-Shiller: Pace of home price growth ‘not alarming.’ “Home prices… hiked to their highest level in more than two years in December, posting a 5.8 percent annual gain.” But S&P Dow Jones Index Committee chairman and managing director, David “What, Me Worry?” Blitzer says “questions  about whether this is a normal housing market or if prices could be heading for a fall are natural.” See why he says there’s no need for anyone to freak out, in RISMedia.

Property taxes—from highest to lowest. “WalletHub’s research team culled Census data on real estate property taxes in analyzing all 50 states and the District of Columbia. It divided the median annual property tax payment for the state by the state’s median home price.” Head to REALTORMag for the heat-map results —>

Cameron’s $5M + deals of the day –

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Because you are an informed person, as a supplement to the Dealmaker, we are providing you 3 (sometimes more/less) non-real estate related articles we thought you might enjoy!
The Arizona lawman challenging President Trump’s border wall. In this USA TODAY report and video interview — which features an opening reminiscent from something out of a Sergio Leone Spaghetti Western — Santa Cruz County Sheriff Tony Estrada shares thoughts on what it’s like to have lived on “both sides of the boarder,” how a wall is not an immigration “silver bullet,” and how he feels about Trump calling some Mexican immigrants “rapists and drug smugglers.” In other words, Sheriff Estrada touches upon what some might call “the good, the bad, and the ugly.”

Fear and hope: Flagstaff residents consider future with new $15 per hour minimum wage. “Four months after voters approved Prop 414… business owners, employees, public officials and other residents continue to wrestle with the vote.” A supporter of Prop 414: “It’s just the right thing to do.” An opponent of Prop 414: “Good intentions don’t override the laws of economics.” More in Cronkite News.

SEC to decide this week whether Bitcoin could become the next ETF star. “An [exchange traded fund] could serve as a bridge from bitcoin’s current status as a counterculture technology to mainstream acceptance. Enthusiasm about a bitcoin-based ETF helped drive the currency to a new record near $1,300 last week. [An SEC] green light… would give investors easier access to the digital currency.” The Wall Street Journal.

POKEMON ‘NO!’ – Pokemon go creators face lawsuit over players’ trespassing. “A New Jersey man has filed a federal lawsuit against the makers of the popular Pokemon Go video game for placing the virtual creatures on his property without permission, which ‘caused Pokemon Go players to interfere with [his] use and enjoyment of his property,’ according to court documents.” — ABC News. (Note: Law360 has an update on this case, but a subscription is required for access.) The Dealmaker by Belfiore & Rose Law Group on Facebook

CBRE Completes $10.55 Million Sale of Desert Canyon 200 Read more

HonorHealth Anchored Medical Complex Trades for $10.6M Read more

Phoenix Multifamily Market Closes 2016 With Slower Activity Read more

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group.  Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others.  The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.

Belfiore Real Estate Consulting is Arizona’s leading housing market research firm.  The company couples its surveys of up to 350 new home subdivision sales personnel monthly with resale and public data, as well as the perspectives of leading development, homebuilding, lenders, brokerage, real estate law, contractors, and investors to report on and forecast residential housing market conditions.

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Cameron’s $5M + deals of the day

Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County. Price: $27MBuyer:  Tides on 19th Partners, LLC

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