PHOENIX, ARIZONA — Northmarq Phoenix’s Investment Sales team of Trevor Koskovich, Bill Hahn, Jesse Hudson, and Ryan Boyle sold Standard Raintree, a 364-unit multifamily community located at 6450 E. Golf Links Road in Tucson, Arizona.  Next Round Asset Management I, LLC, an entity of Next Round Asset Management, a local private investor, purchased the community for $42 million ($115,385 per unit.) NorthMarq’s Debt & Equity team of Griffin Martin, Brandon Harrington, Bryan Mummaw, and Tyler Woodard financed the acquisition with a $31.3 million LTV bridge loan. NorthMarq’s Investment sales team represented the seller, SPL Companies of Denver, during the transaction.

Standard Raintree is a garden-style community in a park-like setting with pool, gazebo, volleyball and racquetball courts and a dog park. The gated-access complex, built in 1983, includes studio and one-bedroom units that range in size from 327 to 418 square feet. Standard Raintree is conveniently located just northeast of Davis Monthan Airbase, and surrounded by a variety of shopping, dining and entertainment venues.

“Standard Raintree was a great opportunity for Next Round to continue their expansion into Tucson, a market they’ve focused on because of its strong fundamentals,” explained Jesse Hudson, Senior Vice President, Investment Sales, NorthMarq. “We expect investment demand to remain elevated in the Tucson area as the momentum established in the fourth quarter of 2021 will carry over into 2022.” At year-end 2021, Tucson had 4.4% vacancy and posted rental increases of 4.5% in the final three months of the year.

Next Round Asset Management has been actively investing in the Arizona multifamily properties. Their current portfolio includes three communities with a combined 360 units in Tucson and three communities with a combined 435 units in Phoenix. For more information visit www.nextroundam.com

To learn more, see RED Comp #9641.

DENVER, ARIZONA – CBRE announced the $75 million sale of a medical office portfolio in the metro areas of Phoenix, Cleveland and San Antonio, to a confidential buyer.

Chris Bodnar, Lee Asher, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman with CBRE Healthcare and Life Sciences Capital Markets group represented the seller, Woodside Health.

The portfolio totals just over 280,000-square-feet and includes four properties:

•  Rome Towers, located at 1760 E Pecos Road in Gilbert, Ariz.
• Southwest General Middleburg Medical Center, located at 18780 E Bagley Rd in Middleburg
  Heights, Ohio
• Middleburg Medical Arts I & II, located at 18660 E. Bagley Road in Middleburg Heights, Ohio
• Dominion Crossing, located at 21727 IH 10 West in San Antonio, Tex.

The medical office buildings are each located in densely populated areas. The properties are 83 percent leased with connectivity to regional health systems and physician practices.

“These properties exhibit many of the fundamentals that health care real estate investors desire, including sticky tenancy and strategic locations with growing demand for healthcare services,” said Mr. Bodnar, vice chairman, CBRE. “Woodside Health is an experienced operator and rising star in the medical office sector. We are grateful for the opportunity to work with them on this transaction and to achieve a favorable outcome for their investors.”

Nationally, medical office sales are projected to have reached a new high in 2021, surpassing $16 billion, according to preliminary data from Revista. CBRE’s Healthcare and Life Sciences Capital Markets group had its own record-setting year in 2021. The practice advised on the sale/acquisition of 205 properties and the financing of 39 properties, totaling $3.27 billion in transaction volume.

Hybrid meeting brings together leaders of Areas of Innovation and Science Parks from around the world

• Hybrid meeting connects hub in Malaga, Spain, and experts joining remotely
• Association plans international event in Seville, Spain in 2022
• Strategic selection of IASP’s next conference destination: Board selects Luxembourg to host IASP’s 2023 World Conference
  • Nairobi and Québec City are the official candidates for 2024

Innovation happens when the right people get together, and IASP’s International Board Meeting is a microcosm of innovation in action. Its hybrid format gave global experts the unique chance to meet, with some travelling to Malaga, Spain, and others connecting remotely, reflecting the new ways we work and collaborate internationally.

The International Board is made up of a total of 16 members from 14 different countries: China, Denmark, Ecuador, India, Iran, Italy, Kenya, Panama, Russia, Spain, Sweden, Thailand, the UK and the USA. Experts in science parks (STPs) and areas of innovation (AOIs), they brought their years of executive management experience to the table in the two-day Board meeting to discuss the association’s future strategy and to outline the path for IASP to follow as we adjust to a post-pandemic world. Taking place from 14^th – 15^th February 2022, the association’s annual strategy meeting was chaired by International President Herbert Chen (TusPark, China), who joined the meeting remotely from Beijing.

Mr Chen commented: “A good association creates a vibrant network where its members can communicate and exchange knowledge easily, and over the last 40 years, IASP has successfully built a truly global network of STPs and AOIs. IASP organises annual world conferences as well as regional activities, so that park managers get to know each other, collaborate and grow international relationships.  As a service platform to global STPs and AOIs, IASP also needs continuous reform and innovation. Our Board members not only have a rich working experience in STPs and AOIs, but also have accumulated years of practical experience in management. I thank all the Board members as well as all the IASP members for sharing their ongoing inspiration, wisdom and operational solutions that help our association to thrive.”

”IASP Board leaders joined together for a strategic planning session where a unified vision for the future was developed. These prolific meetings established the building blocks for the future success of IASP. As the North American President of IASP, it was great to work with my international colleagues to chart a course forward to advance science parks and innovation districts worldwide,” shared Carol Stewart, Associate Vice President, Tech Parks Arizona.

Tour of local innovation hub
Board members who travelled to Malaga also had the opportunity to take a technical tour of Malaga TechPark, including a visit to a Dekra testing facility to see their connected vehicle testing in action.

New research and industry knowledge
Industry knowledge is the cornerstone of what IASP does, and the coming year will see two important developments. The latest edition of IASP’s General Survey will be published in 2022, complete with data from global IASP members regarding the impact of COVID-19, pivots and adjustments our industry has experienced, as well as an overview of all the key trends affecting STPs and AOIs. IASP is also finalising an online Self Assessment Tool for science parks, which will allow them to measure and benchmark their performance in their own regional context as well as at a global level. Developed by experts with years of experience, it will help STPs worldwide to demonstrate the value they bring to their cities and regions and back up their success stories with real quantifiable data.

Back to in-person events in Seville
IASP World Conferences takes place in a different country every year, becoming a tool to link innovation leaders around the world and keep the association truly global. After two years of virtual events, 2022 sees the return of in-person conferences: Seville, Spain, will be the host city, bringing together experts to explore “Green and digital change powered by innovation: the role of innovation ecosystems.” Taking place from 27-30 September 2022, it will focus on the leading role innovation ecosystems have to play in consolidating global efforts to fight climate change through innovative green and digital technologies.

Strategic selection of IASP’s 2023 and 2024 conference destinations
And looking further ahead, the international board also considered candidatures from cities bidding to host the association’s 2023 and 2024 World Conferences, all keen to welcome IASP’s global delegates and consolidate their status as innovation hotspots.

As IASP events continue to increase in size and scope, outstanding bids were received from a wide variety of destinations, including Science and Technology Park of Crete, Greece; Technoport Luxembourg, Luxembourg; Parque de Investigación e Innovación Tecnológica (PIIT), Mexico; Québec International, Canada; University of Iceland Science Park, Iceland; Konza Technopolis, Kenya; and Kaunus Science and Technology Park, Lithuania.

After in depth strategic discussion of the advantages each world city could offer, the Board selected Technoport Luxembourg, Luxembourg as host for 2023 and shortlisted two official candidates for 2024: Konza Technopolis, Kenya and Québec International, Canada. For 2024, IASP members will then vote on their favourite at the association’s General Assembly in September 2022 to select the final destination.

IASP CEO Ebba Lund, said: “We were delighted to welcome our international board at this hybrid meeting to discuss our post pandemic strategy and activities for the coming year. With in-person events back on the agenda, we were particularly excited to present candidates to host our 2023 and 2024 World Conferences to the Board. There were some fantastic bids to choose from where innovation is woven into the fabric of the city and region, and I thank all the candidates for their enthusiasm to act as host to their international colleagues. Congratulations to Technoport Luxembourg, Konza Technopolis and Québec International!!”