By Jesse A. Millard | AZBigMedia
The $928 million sale of Marina Heights was a herculean effort involving a leaseback, a development agreement involving a property tax abatement, at least two partnership agreements, and, of course, “a typical real estate purchase deal.”
Transwestern Investment Group and JDM Partners purchased the 2 million-square-foot mixed-use development from State Farm in a sale leaseback at the end of 2017.
JDM Partners, along with a private partner, handled the equity side of the deal, and Transwestern Investment Group will provide management services, says Andrew Abraham, the lawyer who handled the equity side of the deal for JDM Partners.
