807 acres of “solar energy zoned” land in Gila Bend likely to be acquired

By Adam Lyons in : News // Jun 30 2010
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807 acres of “solar energy zoned” land in Gila Bend likely to be acquired

Solar energy zoned land might be a hot commodity in Arizona Only 5 days ago Pacific Blue Energy announced a strategic partnership with Patriot Solar Inc. in the development of commercial solar farms in the Southwestern United States. Today, the announcement was made that they have secured an option to purchase 807 acres of “solar […]

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PASSCO Companies LLC has acquired Desert Parks Vista Apartments for $32.6 million

By Adam Lyons in : News // Jun 29 2010
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PASSCO Companies LLC has acquired Desert Parks Vista Apartments for $32.6 million

SCOTTSDALE, AZ-After an abbreviated due diligence period and speedy closing, PASSCO Companies LLC has acquired Desert Parks Vista Apartments for $32.6 million, which translates into a sub-6% cap rate. Goodman says PASSCO has no immediate plans to convert the property. The firm plans to be a long-term holder. Built in 2005, Desert Parks Vista features […]

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Arizona home prices increase slightly in June

By Adam Lyons in : News // Jun 29 2010
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Arizona home prices increase slightly in June

NEW YORK – Home prices in April rose for the first time in seven months as government tax credits bolstered the housing market. But the rebound may be short-lived now that the incentives have expired. Last week, the government reported that new home sales fell in May to their lowest level on record, plunging 33 […]

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FOMC Votes to Maintain Low Rates for an ‘Extended Period’

By Adam Lyons in : News // Jun 26 2010
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FOMC Votes to Maintain Low Rates for an ‘Extended Period’

The Federal Open Market Committee (FOMC) voted to maintain the target range for the federal funds rate at 0% to 0.25%. The board’s decision comes on the belief that while there are some signs of economic recovery developing, financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad, the FOMC […]

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