Hines sold its 2-year-old office development in Phoenix’s Chandler suburb for $102 million to Macquarie Asset Management, the Australia-based investment firm’s second office purchase in the greater Phoenix area this year. Sydney-based Macquarie, which has U.S. offices in Boston,
Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, announced the acquisition of 961 acres of land in El Mirage, Ariz., a suburb of Phoenix, which will be developed into
Three Mesa apartment complexes sold for a total of more than $354.5 million in a series of deals over two days last month as the investor feeding frenzy intensifies in the region’s multifamily market. While the activity of large investment groups in the single-family housing market has
Arizona’s need for housing that people can afford is a big and growing problem. Roadblocks to building include not-in-my-backyard-ism and political backlash. These are shutting the door on new developments, particularly in metro Phoenix, where the affordable housing crunch is the
The Financial Accounting Standards Board recently announced a proposed accounting change ending the use of troubled debt restructuring (TDR) for companies that had adopted a new credit losses standard, as explained by Ernst & Young. But TDRs are coming up in a different context
Walk into any restaurant, store or gas station and you will probably find higher prices posted on menus, stickers and reader boards. Most consumers didn’t need the official announcement in early December about a 6.8% inflation rate to know that everything from an avocado to a
The apartment sector has been on a roller coaster since the onset of the Covid-19 pandemic. Some markets in 2020 saw meaningful drops in rents, occupancy and other metrics, but even in markets that remained stable, landlords had to work with tenants who lost income and couldn’t
Nobody knows, exactly, how many shovelfuls of dirt there are in 275 square miles. But the first few of them have now been dug in the vast tract of state trust land known as Superstition Vistas. And by 2023, the first of what could someday be a million residents will be moving into their new
The country began breathing a sigh of relief in the second quarter of 2021 as U.S. GDP returned to pre-pandemic levels. With a substantial part of the U.S. population vaccinated, the unemployment rate plummeted, schools began preparing for in-person instruction and restaurants
The commercial real estate sector continues to improve markedly from the depths of the pandemic-induced recession in Spring 2020. In the third quarter of this year, commercial mortgage delinquencies declined further across all investor groups, according to MBA’s latest Commercial/Multifamily
The Federal Reserve is further tightening up its pandemic-era easy money policy and will increase the pace of tapering, a move that could usher in rate hikes earlier than expected, according to a statement released at the
A California company has entered the Phoenix market with plans to bring affordable apartments to different areas of the Valley. Community Preservation Partners is investing $51 million to buy and upgrade three apartment communities in
Grand Canyon University has refinanced its 270-acre Phoenix campus in one of the largest real estate financings in state history.Barclays arranged $1.2 billion in financing to be used to repay debt that the nonprofit university used to acquire the property in
$969 million will be invested in Arizona highways, roads, and bridges from the bipartisan Infrastructure Investment and Jobs law led by Senator Kyrsten Sinema and shaped by Senator Mark Kelly. The $969,307,549 in funding from the
A massive race for space. That’s the most fitting way to describe the booming industrial market we’ve seen from coast to coast since the onset of the health crisis. Throughout 2021, strong e-commerce and retail sales—combined with
A global real estate firm recently partnered with a Valley company to start investing in multifamily properties across Arizona.The Canyon Catalyst Fund, which makes real estate investments on behalf of the
The pandemic brought interest rates back down to historic lows, and while investors are enjoying the low cost of capital, many are wondering when the party will end. Berkadia’s Charles Foschini, however, says that investors need
Thompson Thrift Retail Group, an Indianapolis-based real estate developer, will be building its first Arizona industrial project in Mesa adjacent to Apple’s $2 billion global command center. In the Elliot Road Technology Corridor – home to
Rental prices in the Phoenix metro, like home prices, are skyrocketing- making it challenging for people to find housing across the board. Parallel with the housing market — there are fewer rentals available and too many people who
Developer Marwest Enterprises sold its three-building Logic Park 91 industrial park in Phoenix’s fast-developing Tolleson suburb for $136 million. The buildings, totaling more than 730,000 square feet across 41 acres at
Commercial real estate data provider CoStar Group plans to expand its research and technology center in Richmond, Virginia, investing $460 million to build a two-building complex to create a corporate campus that’s expected to bring 2,000 new jobs to the banks of the James River. The company is
The State Route 85 and MC 85 area of the West Valley, which is being envisioned as a clean energy corridor, has started to see activity in recent months on the heels of the announcement of KORE Power’s battery manufacturing facility in Buckeye. Real estate firms and investors have started
San Diego-based Davlyn Investments paid more than $114 million for a 290-unit apartment complex in another example of California investors scooping up multifamily properties in greater Phoenix. The multifamily investment firm bought the Trevi apartments in Chandler from TruAmerica Multifamily,
Skyrocketing home prices are poised to flatten in some metropolitan areas, according to a new ranking of the most overvalued US housing markets by professors at Florida Atlantic University and Florida International University. A pricing crown is developing in the five most overvalued markets: Boise,
Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, is proud to announce that Album Cooley Station – the first true active adult 55+ apartment home community in the Cooley Station area – is now pre-leasing.“ Album Cooley Station is an