Thomas Title assists with $60+ million financing and $22 million sale in Arizona
Dear Clients and Friends:
Thomas Title & Escrow is proud to have assisted a company formed by JLB Partners out of Irving, Texas with the title and escrow services for a planned apartment complex in Tempe, Arizona that will be valued at over $60 million. Traci Miller, who serves as Thomas Title’s Managing Director for National Commercial Services in Dallas, closed the transaction. The 14.66-acre parcel, now occupied by the shuttered Lake Country Village shopping center, is planned for 367 apartments and is located along the north side of Baseline Road and about a block east of Rural Road. Tony Choe, Chief Title Officer at Thomas Title in Scottsdale, provided title and underwriting support on the deal.
JLB is one of the most active multi-family developers in the U.S. and has several other projects in development in Arizona.
Thomas Title also assisted a joint venture formed by P.B. Bell Companies and Stonecutter Capital Management with the sale of the Crosswinds apartments at 868 S. Arizona Ave. in Chandler, Arizona. The deal was valued at $22 million. The seller was Bellstone VI LLC and the purchaser was Emma Capital Investments out of Ontario, Canada. Lauri Gallagher, Senior Vice President based in Scottsdale, closed the transaction for the parties.
P.B. Bell is one of the largest multi-family owners in Arizona and is headquartered in Scottsdale.
Frank W. Busch III
President and Chief Executive Officer
About Thomas Title & Escrow
Thomas Title & Escrow is a full service, national provider of commercial and residential title insurance, real estate settlement and escrow services for foreign and domestic transactions. Founded in 2006, the company has quickly grown into one of the largest commercial title and escrow providers in the US. Thomas Title & Escrow specializes in assisting clients with commercial transactions that require comprehensive experience and a high level of sophistication. Visitthomastitle.com.