The Dealmaker: 10/23/2018

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





Rose Law Group looking for… A corporate, transactional, tax attorney with four or more years of experience and some knowledge of securities transactions are necessary to join our high energy group. Attention to detail, brilliance, dedication to immediate client service, and focus are musts. Please send resumes to Hopi Slaughter at

Surprise City Council selects Mike Frazier for city manager role. City leaders have chosen Assistant City Manager Mike Frazier to replace City Manager Bob Wingenroth, who announced his resignation from the position two weeks ago.YourValley.

Toll Brothers’ executive chairman stepping down. “Robert I. Toll will leave his role as executive chairman of the board of directors. With the start of the company’s new fiscal year on November 1, 2018, chief executive officer and board member Douglas C. Yearley, Jr. will succeed Toll as chairman of the board.” Pro Builder. 

Land Zo! – Goodbye, mobile homes. “So far this year, investors [Blackstone Group included] spent more than $225 million on 40 metro Phoenix mobile home parks” — “more than double the number investors paid in 2015, the second biggest year for sales.” PHOENIX magazine.

Sun City residents can now apply for reverse mortgage, Sun City West still in the works. “A two-year hold on reverse mortgages in Sun City appears to be over” after HUD sent word. YourValley reports, however, that “Sun City West residents may still have to wait to access the reverse mortgage option.”

Pollack: Continued strength. The Monday Morning Quarterback hits us with another (mostly) upbeat report on the economy. The only “bad news” was locally, where “housing permits did not keep pace with previous months.” Data ‘SNAPSHOTS’ —> U.S.: Leading Indicators • The Deficit • Industrial Output • Builder Confidence • Home Sales. AZ: Employment • Growth & Housing Permits – Phoenix & Tucson.

Secret doorways increase in popularity. WaPo reports on a “growing demand” for this “Halloween-type feature in homes… The doors, typically hidden by a panel, mirror, artwork [perhaps a portrait with eyes that follow?], or bookcase, swing open to reveal another room.” Hopefully, there’s no premium to pay to have the door open with a creepy “creeeeeeak…” (via Builder

ADOT installs final girders for freeway’s Salt River bridges. “The bridges, between Broadway Road and Southern Avenue, represent about a third of the 1,000 girders to be installed on 40 bridges throughout the 22-mile corridor that will link 59th Avenue and Chandler interchanges on I-10 when it is completed late next year.” AFN.

Scottsdale to pay $13.2 million for two emergency bridge repairs in Old Town. “Scottsdale will move $13.2 million from other city projects to fund emergency work on two of the city’s most well-trafficked [and severely deteriorated] bridges: The 68th Street bridge and the Drinkwater Bridge.” AZCentral.

$80 million bonds sought for Benjamin Franklin Charter School projects in Queen Creek. “Proceeds of the bonds will… finance the cost of acquiring, leasing, constructing, improving and equipping charter-school educational facilities…” QC Independent bullet-points the details. 

Cameron’s $5M + deals of the day –

Be a part of Scottsdale Polo Party history, November 10 and 11 –

10th Annual AZ DealMakers – January 11, 2019. Don’t miss out on the BIGGEST homebuilding industry event for real estate forecasting and analysis, featuring the best speakers in the industry, including Meritage Homes Chairman & CEO Steven J. Hilton and Christopher Todd Communities CEO Todd Wood. Plus, Belfiore Real Estate Consulting President & Founder Jim Belfiore provides an Overview on Housing. For the full list of speakers & panelists, along with registration info for Arizona Housing: Growth, Its Costs, Challenges & Opportunities, tap on! 



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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Arizona general elections — a history of one-party dominance. “The Democratic challengers to Gov. Doug Ducey and Attorney General Mark Brnovich must compete not only with voter registration numbers that favor the GOP, but with a 50-year trend that favors incumbents in statewide races.” Arizona Mirror has a list of 20 “incumbents who lost re-election campaigns” over the past 100 years.

Jeff Flake explains why he calls out Trump but votes for his policies [VIDEO]. “During an appearance on ‘Citizen by CNN,’ a political forum held Monday in New York, moderator Jake Tapper spent a half-hour chatting with Flake about all manner of things — including his sometimes seemingly contradictory speeches and votes.” AZCentral.

Tribal officials, Democrats push back on 9th Circuit judicial nominee.“Native American groups oppose Seattle attorney Eric Miller’s nomination because they say he has made a name for himself by taking cases that challenge tribal sovereignty… Democrats, meanwhile, are outraged over the timing…” Cronkite News.

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