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Wood Partners to Build Luxury Community in Gilbert, AZ

Wood Partners to Build Luxury Community in Gilbert, AZ

Mesa groundwater contaminated by same 'forever chemicals' as Luke AFB

A December report from the U.S. Air Force Civil Engineer Center found high levels of the contaminants perfluorooctane sulfonate, or PFOS, and perfluorooctanoic acid, or PFOA, in groundwater on and around the old Williams Air Force Base, which is now Phoenix-Mesa Gateway Airport and Arizona State University Polytechnic Campus. The chemicals are common in carpeting, clothing treatments and a type of firefighting foam that Air Force bases used for decades to put out fires. The U.S. Environmental Protection Agency links these chemicals to cancer and birth defects. Most of the drinking water in this part of Mesa comes from the Colorado River through the Central Arizona Project canal, but about 5% of the area is served by groundwater from "deep aquifer wells," according to the Air Force report.

Investors Capital Group Pays $48M for Phoenix Asset

Investors Capital Group Pays $48M for Phoenix Asset Berkadia provided a $31.4 million Freddie Mac loan to the buyer of the 196-unit property in Gilbert, Ariz. Jan202021 Painted Trails Investors Capital Group has acquired Painted Trails, a 196-unit community in Gilbert, Ariz. from RK Properties for $48.3 million, Yardi Matrix data shows. Berkadia backed the deal with a $31.4 million, 10-year Freddie Mac acquisition loan, according to public records. The seller picked up the asset from Wasatch Premier Communities for $25.8 million in 2013. In early 2020, RK Properties closed on the disposition of two other Class A assets in the Phoenix area. The 144-unit Del Mar Apartments changed hands for $27 million, while the 160-unit Azure Creek at Tatum Ranch in Cave Creek, Ariz. traded for $36.3 million.