Gila River Arena

CIM Group and Tides Equities Acquire Largest Market Rate Apartment Community in Phoenix

Retrieved on: 
Tuesday, March 1, 2022
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, CIM, Investment, 107th Engineer Battalion, Arizona State Route 101, Camelback Ranch, Entrepreneurship, State Farm Stadium, Program, Growth, Gila River Arena, Sale, ESG, Acquisition, Westgate Entertainment District, Core-Plus Mathematics Project, Phoenix Sky Harbor International Airport, Partnership, CIM Group, Commercial property

Del Mar Terrace is the largest market rate apartment community, based on unit count, in the greater Phoenix area, and the sale, based on price, is the second-largest, single asset, multifamily sale in Arizona history.

Key Points: 
  • Del Mar Terrace is the largest market rate apartment community, based on unit count, in the greater Phoenix area, and the sale, based on price, is the second-largest, single asset, multifamily sale in Arizona history.
  • CIM Group is actively acquiring well-located apartment communities in growth markets with strong demographics, and nearby retail, entertainment and recreation amenities such as Del Mar Terrace.
  • This is an established community where we will invest in program of improvements that will benefit current and future residents, said Shaul Kuba, Co-Founder and Principal, CIM Group.
  • As the largest fully market rate property in Arizona, Del Mar Terrace provides Tides Equities and CIM immediate scale in a submarket that continues to see exceedingly strong rent growth and upward trajectory.

City of Glendale, Arizona, and ASM Global Reveal Plans for Dramatic Reimagination of Gila River Arena

Retrieved on: 
Monday, January 10, 2022
Commercial Building & Real Estate, Construction & Property, Entertainment, Events, Concerts, ASM, T-Mobile Center, Power, Coyote, Solution, Sport, Instagram, Industry, Thought, Food, Multimedia, Architecture, Twitter, Engineering, HOK, Nightclub, Entertainment, Gila River Arena, Westgate Entertainment District, Facebook

The city of Glendale and ASM Global, the worlds leading producer of entertainment experiences, venue management and event strategy, have revealed plans for the reimagination of Gila River Arena, which anchors the vibrant 223-acre Westgate Entertainment District.

Key Points: 
  • The city of Glendale and ASM Global, the worlds leading producer of entertainment experiences, venue management and event strategy, have revealed plans for the reimagination of Gila River Arena, which anchors the vibrant 223-acre Westgate Entertainment District.
  • We are incredibly excited about the bright future as we look to how we evolve the facility and reinvent how people experience Gila River Arena, said Glendale City Manager Kevin Phelps.
  • ASM President and CEO Ron Bension said, The entertainment industry has changed dramatically since Gila River Arena opened its doors in 2003.
  • Both the T-Mobile Center and Gila River Arena are the vibrant hearts and anchors within their respective entertainment districts, said Steedman.