March 15, 2023

Scottsdale-based Keystone Homes sold its first build-to-rent project and now has four more in the pipeline totaling $197 million in development costs. A year after completing construction, the 147-unit luxury rental community

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Record growth in apartment rents in some of the biggest U.S. metropolitan areas coincided with more short-term rental listings, renewing concerns about housing affordability as more property owners cater to travelers rather than

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March 14, 2023

Phoenix-area inflation continues its gradual cooling, but the latest measure shows consumer price pressures here remain among the steepest in the nation even as they declined by one percentage point since the last reading. The

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Both interest rate hikes and cap rate expansion will peak later this year and should decrease in 2024. As a result, today’s opportunity to buy assets for lower prices may not last very long, according to CBRE’s H2 2022 Cap Rate Survey. The survey was

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Cash is still not only king in metro Phoenix — at least when it comes to home sales — but it’s also becoming more popular. All-cash deals represented 42.6% of all home sales in metro Phoenix in 2022, up 3% from 41.3% in 2021 and a huge jump from

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MESA, Ariz. — Once a busy center for shopping in Mesa, Fiesta Mall has been sitting empty and left vandalized for years. But new plans submitted to the City of Mesa this week show potential ideas to demolish Fiesta Mall and build

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A drop in home mortgage rates, a pause (or even cut) by the Federal Reserve at its March 22 meeting, and the need to obtain new letters of credit are among the matters to ponder as commercial real estate companies and venture-capital groups

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March 13, 2023

Nowhere in the United States has the impact of in-migration been felt more acutely over the past few years than in the U.S. Sun Belt. This area, stretching from Phoenix to Florida and up to Tennessee and the Carolinas, experienced a surge in

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Recent news of major office landlords Brookfield Property Partners LP and Columbia Property Trust defaulting on loans for prominent U.S. office properties may’ve sent a shiver through an already anxious commercial real estate industry. But are they

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When Barbi Reuter, CEO and principal of Cushman & Wakefield | PICOR Commercial Real Estate Services in Tucson, Arizona, went to write an opening statement for an annual awards ceremony, she decided to open up the artificial

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Evergreen Devco, Inc., a leading retail and multifamily development company, announced today the opening of its 258-unit Parc Tolleson multifamily community located at 89th Avenue and McDowell Road in Tolleson. “Parc Tolleson offers

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Despite elevated manufacturing and consumer goods production through 2022, the industrial sector is reflecting the start of a softening period, according to Ermengarde Jabir, senior economist at Moody’s Analytics, in a report

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March 10, 2023

The fallout around Friday morning’s closure of Silicon Valley Bank — one of the largest bank failures in history — isn’t limited to the tech sector. The institution, a lender favored by startups that went under abruptly after a

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Talos Holdings started work on a “new” multifamily luxury rental community in East Mesa. The developer says the individualized living experience, The ONE at Mountain Vista (The ONE) will offer residents a unique alternative to

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Fundamental Income Properties, an investment firm specializing in sale-leaseback deals and bankrolled by Canadian investment giant Brookfield Asset Management, is for the first time looking to sell securities in a fundraising effort tied to

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The Arizona self storage sector continues to be generous compared to other states. According to a recent StorageCafe study, most cities in Arizona are deemed renter-friendly, with plenty of storage options and reasonable prices.

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One question facing the multifamily sector amidst inflation and the Federal Reserve’s push on interest rate increases and quantitative tightening has been where would rents, and therefore NOI and valuations, go. According to new data

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The Phoenix region is fresh from an unprecedented apartment building boom that peaked in the last quarter of 2022, and recent statistics suggest that the wave of new supply has outrun demand, an imbalance that could become

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San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 296-unit Ironwood at Happy Valley (formerly known as Springs at Deer Valley) apartment community in Phoenix. The $90.3 million purchase marks the firm’s

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In the newest report published by PropertyShark, which ranks the country’s 100 priciest office submarkets by sale price per square foot, five Arizona office submarkets are among the Top 100 most expensive per square foot in 2022.

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The Federal Reserve released its February 202 Beige Book on Wednesday. The good news is … things haven’t gotten horrible. Which may not seem a big comfort, but the way things have been seemed to head — with

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After much public outreach, Scottsdale-based Walton Global, a real estate investment and land asset management company with US$3.4 billion under management, has submitted an application with the Town of Paradise Valley to

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March 8, 2023

In the 2022 US housing report from the National Association of Realtors and Move.com, which operates Realtor.com for the NAR, the big news is more of the same. The market is now, by their count, 6.5 million new single-family homes short of

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The paperwork took longer than the bidding process. Michael Lieb’s firm, Legacy 76 LLC, won 20.5 acres of north Scottsdale land on Wednesday at the Arizona Land Department building. The minimum bid was $28.07 million, which is

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CBRE is raising its forecast for hotel performance in the Phoenix metro and nationally on the heels of industry gains in Q4 2022 and the expectation of slightly positive GDP growth in 2023. DEEPER DIVE: Here are the finalists for the 2023 RED Awards

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