REAL ESTATE AND CONSTRUCTION

By Roger Yohem, Inside Tucson Business
Published on Friday, January 7th, 2011

A trustee’s sale notice has been filed on a $3.1 million luxury home in the Catalina Foothills, owned by executives of an international real estate development company who tout their financial expertise in helping clients with “extraordinary investment opportunities.”

The 3.3-acre, five-bedroom home, at 7487 N. Secret Canyon Drive, is owned by Businge Stephen Balinda and Joanne Carras, husband and wife, according to public records. The two are principals with Global Economic Strategies LLC with offices in California and Athens, Greece.

The company’s website lists Carras as the firm’s chief executive officer and managing partner, and Balinda as president and partner.

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Multi-housing complexes continue to struggle financially, with the latest foreclosure notice
hitting Westview Apartments, 219 W. Ft. Lowell, for $1.2 million. Roger Yohem photo

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The 7,320 square foot, two-story home was built in 2009 and currently is listed for sale with Long Realty for $3.49 million. The home has a pool, swim-up bar, barbecue fireplace, putting green, five bathrooms, five fireplaces, and a three-car garage, according to Long Realty. It is in the Canyons development, an exclusive area by the Finger Rock trailhead at the north end of Alvernon Way.

Carras founded Global Economic Strategies in 2001. Her career experience includes 10 years with the Federal Deposit Insurance Corporation as a supervisory project manager and real estate asset specialist. She also served as assistant deputy mayor and director of economic development for the City of Los Angeles and, according to the Global Economic Strategies website, currently serves on the Castaic Area Town Council in northern Los Angeles County. It also lists Balinda as having served in the President Ronald Reagan’s Administration an African diplomat.

CitiMortgage of Missouri holds the note, according to the trustee’s sale notice. CR Title Services, O’Fallon, Mo., is scheduled to auction the property at 11:30 a.m., March 15, at the Pima County Courts Building, 110 W. Congress St.

Owls Club foreclosure

The historic Owls Club Mansion, 378 N. Main Ave. in downtown’s Snob Hollow neighborhood, has fallen into foreclosure and is to be sold at auction in March. It is co-owned by local businessmen Raul FCO Pina and Michael Carlier through their Tucson Owls LLC, according to public records.

According to the trustee’s notice, they have defaulted on a $1.17 million note held by National Bank of Arizona. The property is currently listed for sale for $1.5 million with Grubb Ellis.

The 9,860 square-foot Owl’s Club is known for its Spanish mission-style architecture and is listed in the National Register of Historic Places. It was built in 1901 as a social gathering place for Tucson’s most affluent and eligible bachelors.

Pina has an extensive background in engineering construction and has located his CPE Consultants in the building. The firm works on a wide range of public and private sector development projects.

Carlier is principal of the Carlier Company, 2850 E. Skyline Drive, a broad-based commercial property broker and land developer. He is known for his large volume of lot sales to production buildings in the Tucson market. In October 2000, he was a co-founder of Canyon Community Bank.  

Snell Wilmer is handling the trustee’s sale. The public auction has been set for 1:30 p.m., March 22 at their law offices at 1 S. Church Ave., Suite 1500.

Westview Apartments default

The out-of-state owners of Westview Apartments, 219 W. Fort Lowell Road, have defaulted on an original $1.2 million note, according to a filing with the Pima County Recorder. The apartments, built in 1985, are to be sold at auction in March.

Public records list one-third ownership each belonging to Alussa LLC, Westminster, Colo.; SKM McDonald Properties LLC,  Heber, Utah; and Westview CJM LLC, Salt Lake City.

The two-story complex features 32 one-bedroom apartments and a pool.  The Phoenix law firm of Perry Shapiro is handling the trustee’s sale, set for 11:30 a.m. March 18 at the Pima County Superior Court Building, 110 W. Congress St. The beneficiary is Bayview Loan Servicing of Coral Gables, Fla. 

Caliente Canyons default

California Reconveyance Company has filed a trustee’s sale notice on a 5,395 square foot custom home at 4030 N. Caliente Canyon Place on Tucson’s far northeast side. The property is set to be sold at public auction at 11:30 a.m., March 17, at the Pima County Courts Building, 110 W. Congress St.

Public records list an original principal balance of $1.275 million with the beneficiary being JPMorgan Chase Bank, Jacksonville, Fla. The home was built in 2007, has a four-car garage and sets on about one acre. The owners are listed as Breann and Mark Silverman of Tucson.

Realtor’s economic summit

On Jan. 27, Marshall Vest, director of the Economic and Business Research Center at the University of Arizona Eller College of Business, will lead a panel of city managers at a special regional economic summit. The event is being presented by the Tucson Association of Realtors.

Vest will be joined by Tucson City Manager Mike Letcher, Marana Town Manager Gilbert Davidson, Oro Valley Town Manager  Jerene Watson, and Sahuarita Town Manager Jim Stahle.

The economic summit will be from 1-3 p.m. at the Tucson Association of Realtors auditorium, 2445 N. Tucson Blvd. Cost is $15 per person. Register online at www.tucsonrealtors.org under “calendar of events.” For more information, contact Laura Kruszewski at laura@tucsonrealtors.org or (520) 382-8775.

Sales and leases

• The Chamberlain Group leased 153,000 square feet at 6050 S. Country Club Road and 45,000 square feet at 6020 S. Country Club Road from EastGroup Properties, represented by Robert Glaser, Picor Commercial Real Estate Services. Whipple Hazelwood and Allan Rogaway, Cresa Partners, Chicago, represented the tenant.

• Lifelong Learning Research Institute leased 7,487 square feet at 1250 W. Continental Road, Green Valley, from Pima County Community College District. Michael Gross, Tucson Realty Trust, represented the landlord. Deanna Rader, Gordon Rees, represented the tenant.

• BRS Mining Inc. leased 1,473 square feet at 12480 N. Rancho Vistoso Blvd., Suite 130, Oro Valley, from Oro Vistoso LLC.  Ron Zimmerman, Ian Stuart, and Clare Cole, Bourn Partners, represented the landlord.

• LM Custom Painting leased 1,440 square feet at 1870 W. Prince Road in Exchange Place Business Center from Presson Corporation. Rob Glaser and Paul Hooker, Picor Commercial Real Estate Services, handled the transaction.

E-mail news items for this column to ryohem@azbiz.com.  Inside Real Estate Construction appears weekly.

Copyright © 2011 Inside Tucson Business

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