CRVI H-AZCO, LLC, an affiliate of Cypress Real Estate Advisors of Austin, TX sold 45 finished residential lots to Lennar Homes of Arizona, a subsidiary of Lennar Corporation of Florida (NYSE:LEN), for $2.25 million, or $50,000 per lot in Eagle Crest Ranch V. Eagle Crest Ranch is a community of 640+ homes in northwest Tucson. Located 6 miles north of Tangerine Road on Oracle Rd., it offers spectacular Catalina Mountain Views with acres of state land to the north and east that provide a natural desert buffer with all kinds of wildlife.

Lennar Corporation (Stuart Miller, CEO) was founded in 1954, is headquartered in Miami, Florida and is one of the nation’s leading builders of affordable, move-up and retirement homes in communities that cater to almost any lifestyle, urban, golf course, Active Adult or suburban. Lennar offers “everything included” homes in select communities.

Will White of Arizona Land Advisors in Tucson represented the seller in the transaction.

To reach Cypress Real Estate Advisors call (512) 494-8510. White can be reached at (520) 514-7454.

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Manuel German dba Galerias Magelos of Hermossillo, Mexico purchased a property across the road from The Bridges at 3640 S Campbell Avenue in Tucson for its first US location. The 10,000 sq. ft. building was purchased for[mepr-show rules=”58038″]$520,000 ($52 PSF) from Duffy Warehouses, LLC of Tucson (Gary Duffy, manager).

Galerias Magelos, a Mexican furniture store, will expand operations at the property as a showroom / warehouse. Following in the steps of its sister business, Galerias Magelos that has been in business for about 15 years in Hermosillo, the Tucson store will be its second store for furniture imports / sales and interior decorating services for clients. German has been an interior decorator for about 15 years.

The property sold leased to Olde Inke, a media and data storage depot, that will remain in place until June when its lease is up and the new owner can begin tenant improvements. The new store opening is anticipated for sometime this Fall.

Ed Henne of Long Realty in Tucson represented the seller in the transaction and Gary Best of KW Commercial and Luz Moreno of Keller Williams Southern Arizona represented the buyer.

Contact Henne at (520) 918-5989. Best and Moreno can be reached at (520) 615-8400.[/mepr-show]

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Cornerstone Hospital of Southeast Arizona, LLC of Dallas, TX (Louise Cassidy, CEO) exercised a purchase option on the building at 7220 E Rosewood St in Tucson for [mepr-show rules=”58038″]$7 million ($166 PSF) that it leased since 2005 from Medical Properties Trust of Birmingham, AL affiliate, MPT of Tucson, LLC. Cornerstone Hospital is a 34-bed long term acute care facility for patients who no longer require the services of an intensive care unit, but still need more intensive care than that offered by traditional rehabilitation, skilled nursing or sub-acute care settings.

Nexbank of Dallas, TX financed the transaction.

The seller, Medical Properties Trust (NYSE:MPW) is a REIT specialized exclusively in real estate investments of acute care facilities of all kinds with long-term triple-net leases. MPT claims to be the only healthcare REIT focusing exclusively on hospitals, acquiring and developing rehabilitation hospitals, women’s and children’s hospitals, regional and community hospitals, as well as ambulatory surgery centers and other specialized, single-discipline facilities.

MPT acquired the property in 2008 from another healthcare REIT, Health Care Property Investors, Inc. of Long Beach, CA for slightly over $7 million ($7,010,870). The purchase option with Cornerstone was conveyed to MPT in that transaction.

The CEO of Cornerstone Hospital, Louise Cassidy reported that there would not be any changes to the hospital’s normal operations.[/mepr-show]