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
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
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
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.
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
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
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
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
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
Real estate development firm Roers Cos. received $90 million in financing to build a 200-unit affordable housing project in Buckeye, a fast-growing suburb west of Phoenix. Roers, based near Minneapolis, secured
CRE has been an industry soaked in uncertainty. Interest rate jumps, worries about a potential recession, significantly reduced transactions that makes price discovery difficult. For those in the office sector
“It’s Raining Men,” so the 1980s song by the Weather Girls went. More than 40 years later, what’s raining is multifamily units. In a research brief, CBRE forecasts that 716,000 multifamily housing units will hit the market over the next
Homeowners of luxury estates at The Palmeraie in Paradise Valley are frustrated with the stop-and-go construction pace of their new homes. Construction is again on pause for the $2 billion, 122-acre luxury master-planned community — which includes
Activity from out-of-state technology companies drove unprecedented data center leasing activity in Phoenix during 2022, according to a new report from CBRE. The market’s absorption – a measure of net leasing activity – had
Soaring costs for protections against rising interest rates are further pressuring commercial real estate property owners saddled with floating-rate debt. Property owners who purchased interest rate caps before the Federal Reserve began
MEMPHIS, Tennessee — Shifts in business travel demand over the past few years have included trips that increasingly blend in leisure, as remote and hybrid work enable extended stays at hotels. Some hotel executives believe
With a total of over 52 million square feet of industrial space under development, Phoenix ranks 2nd among the largest U.S. markets by industrial real estate currently under construction, according to CommercialSearch’s latest study
A redevelopment project in downtown Phoenix aiming to make better use of the transit depot at Central Avenue and Van Buren Street is on track to begin opening for student housing in the fall 2024 semester. Central Station, which will include
A California homebuilder is buying homes in the Arcadia Lite area of Phoenix, razing them and building new from the ground up. Aliso Veijo, California-based Thomas James Homes Inc. just closed on its first home last week. It just finished its
GTIS Partners, a global real estate investment firm managing $4.3 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, announced the sale of 4,150 acres at Merrill Ranch to El Dorado Holdings. Merrill Ranch is
Sprouts Farmers Market Inc. (Nasdaq: SFM), a Phoenix-based specialty grocery chain, unveiled a new real estate strategy during an earnings call on last week, which will lead to a lot of new stores opening and some older ones closing.
Labor is a top reason why companies are choosing to move to or expand in the Phoenix metro, particularly in fast-growing areas like the West Valley. For the past two decades, West Valley cities such as Goodyear and Surprise have seen
Macerich Refinances Arizona Mall: Goldman Sachs is heading to market with a portion of a $700 million loan in a single-borrower, single-property commercial mortgage-backed securities deal — the first such mall-backed offering since
Going into 2023 has been for CRE a bit like jumping into a mountain lake and feeling that surge of cold racing through your body. The uncertainty about valuations, the economy, and interest and cap rates. It’s understandable that transactions have
Housing affordability dropped to a new low nationally and in Arizona during the fourth quarter of 2022. The National Association of Home Builders/Wells Fargo Housing Opportunity Index, released February 9, indicated that only