Maker House, a new artisan-driven makerspace opening this fall in the Historic Bates Mansion in Tucson, has partnered with Yellow Brick Coffee to make them the official, exclusive roaster of Maker House. “I’m a maker myself, and makers drink a lot of coffee as a general rule,” jokes Vanessa Ford, Executive Director of Maker House. “We want to give our artisan makers artisan coffee, and Anna and Yellow Brick Coffee are the perfect partners for us.”

Yellow Brick Coffee was founded in New York in 2011, and has expanded nationally to include a roasting facility in Tucson, AZ. Master Roaster Anna Perreira, the owner of Yellow Brick Coffee, is currently the only roaster in the US distributing coffee from Mi Tazita from 2013’s crop.

Nestled in the mountains of Honduras is Mi Tazita, a small family-owned farm producing amazing award winning coffee primarily for the domestic market. Because a recent earthquake knocked out their bridge, getting to the farm itself involves driving through a stream. Getting the coffee beans out requires mule trains walking winding mountain paths too narrow for vehicles to maneuver.

When the coffee reaches Anna, she builds a custom roast profile for each year’s crop. Anna roasts in very small batches, monitoring each 5 lb. roast for the perfect roast profile that yields amazing flavors of vanilla, caramel, milk chocolate, honey, butter and grapefruit.

Mi Tazita has won numerous awards locally for their coffee. Even so, prior to Yellow Brick Coffee’s purchase of Mi Tazita coffee, it had never been available in the US. Perreira states “This is the second year we have purchased from Mi Tazita, since our initial visit in January 2011. We are extremely proud of this continued relationship. I feel honored to be able to support the farm and highlight the quality that they produce year over year.”

Maker House is currently offering the ability to purchase this rare coffee through their crowdfunding campaign, to raise funds for the equipment and furniture needed to outfit the makerspace.

People who support Maker House at the $35 “Coffee Fanatic” level, will receive a custom Maker House Mug and ¼ lb of the fresh 2013 crop in mid-September. To donate to the Maker House campaign and get this rare coffee, visit
https://www.rockethub.com/projects/29842-support-maker-house-the-world-s-first-artisan-driven-makerspace

D.R. Horton (NYSE: DHI) bought 60-lots at The Pines Phase II in Marana for $2.28 million, or $38,000 per finished lot, as part of an option agreement for 123-lots with Terrazzo Homes of Tucson. The lots are on average 40’x 85’ and the builder has introduced an all-new product line ranging in size from 1,613 to 2,969 sq. ft. that take best advantage.

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[mepr-show rules=”58038″]D.R. Horton, a Texas-based company is one of the largest homebuilders in the United States, operating in 26 states and 77 metropolitan markets.

The Pines is located north of Arizona Pavilions in the shadow of Sombrero Peak, on the 18-hole Quarry Pines Golf Course, with a mix of dramatic elevations  and stunning mountain views.

This gated community with community pool is D.R. Horton’s newest community.

The Pines was developed by Standard Pacific of Tucson in 2007. Phase I has 129-lots on 21 acres with home builders such as D.R. Horton and Maracay Homes committed. Phase II of the Pines is a total of 265-lots on approximately 30 acres, plus 25 acres of open space and common area. D.R. Horton is the first builder commitment in Phase II.

The Pines is open and selling now, with five models. Hours are 9:30 – 5:30 every day, except Wednesday when it opens at noon- 5:30.

Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction for seller and builder.

Feig should be reached at (520) 747-4000 ext. 103 and Mendenhall is at (520) 747-4000 ext. 102. The Pines sales office can be contacted at (520) 575-5108.[/mepr-show]

Freddie Mac released its mid-year multifamily outlook for 2013 last Thursday, which included a new Freddie Mac Multifamily Investment Index that measures the attractiveness for investing in apartment properties.

The Index, using data from 2000 through the second quarter of 2013, looks attractive when there are relatively strong cash flows for each dollar of equity invested because multifamily property returns are driven by property cash flows.

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[mepr-show rules=”58038″]The current investment environment is above its historical average nationally, and for the majority of the metro areas it specifically tracks (with the exception of New York which is below average).

In the years leading up to the recession, the Index shows that investing in apartments was becoming less attractive and hit a floor in 2007, with property prices at their peak. The Index rebounded post-recession due to growth in property income and lower rates.

According to the index, apartments are still a good investment in most metropolitan markets Freddie tracks. Tucson is not one of those markets tracked, but we can say multifamily properties of all shapes and sizes are in high demand, especially value-add properties that are selling at low price per unit just waiting for renovation and re-tenanting. Here are three recent sales:

NKJ Investments, LLC and Gregory L Yule of Lakeside, CA bought the Kelso Vista Apartments, a 40-unit apartment complex at 450 West Kelso Street in Central Tucson for $780,000 ($19,500 per unit) in an all-cash deal. The 2-story, 23,730 sq. ft. building (built 1983) on slightly over 1 acre sold as a value-add property, with 25% vacancy and over $60,000 in deferred maintenance. Fort Lowell Realty & Management has been retained by the new owners for property management. The seller, The Bernard Berk Trust and the Cook Family Trust of Pasadena, CA was represented by Bob Kaplan and Allan Mendelsberg, Investment Specialists, with Cushman & Wakefield / Picor. German Pardo with Real Living SJ Fowler Real Estate of Mesa represented the investor.

Russell Moore of Tucson purchased seven casitas at 205-209 E Alturas Street and 2502-2508 N Estrella in Central Tucson for $169,750 ($24,250 per unit). The individual casitas range in size from 420 – 640 sq. ft. and were built from 1923-1953. Moore, an experienced landlord who specializes in renovating multifamily properties told us the property was in fair condition and sold with only one vacancy. Moore was particularly attracted to the property due to the seller carryback terms that were offered. The seller, 7DW, LLC of Flagstaff was represented by Luther Esala of The Negotiators Realty in Tucson. Moore, also a real estate broker with Chase Investment Realty represented himself in the transaction.

Tucson Acquisition and Development Corporation Profit Sharing Plan of Tucson (Jeffrey Utsch) bought 10-units at 427-441 E Delano Street in Central Tucson for $140,000 ($15,555 per unit). The ten 2-bedroom / 1 bath units consists of eight 576 sq. ft. casitas and one 1,434 sq. ft. (built 1976) on .66 acre. The transaction was an Estate Sale and another add-value transaction that had been vacant for several years. The investor estimated the cost to cure to be about $10,000 per unit in order to bring back to leasable. There were no brokers or commissions on this deal, Utsch a broker himself, dealt directly with the estate on the transaction. There were multiple bids for the property Utsch told us. The buyer was able to assume an existing loan with favorable terms on property.

As Victor Pa, Vice President of Multifamily Investments and Advisory at Freddie Mac is quoted as saying in the Multifamily Investment Index report, “As markets move it is important to have an objective measure of current conditions. Although the multifamily market has slowed, it remains an attractive investment across the majority of the metro areas for equity and debt investors.”

Kaplan and Mendelsberg can be contacted at (520) 748-7100. Pardo is at (480) 649-3536. Moore should be reached at (520) 349-8442. Utsch is available at (520) 977-7946.

The Real Estate Daily News will publish the July report on Tucson smaller multifamily properties by submarkets on Friday.[/mepr-show]

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[ismember] Sale date on Kelso Apartments was 7/23/2013. Sale date on Alturas & Estrella Ave was 8/1/2013. Sale date on Delano was 7/23/2013. [/ismember]