For years single-family homes have been an attractive asset class for investors in large part due to low mortgage rates. Now, though, the financial equation is changing, and some investors are finding they are getting burned as they seek an exit. In March of this year, one in every seven U.S. homes sold
CBRE has facilitated the sale of the JW Marriott Tucson Starr Pass Resort & Spa, a 575-key resort located at 3800 West Starr Pass Blvd., in Tucson, Arizona. Southwest Value Partners purchased the property for $110 million. Christian Charre, Jennifer Bergamo, Paul Weimer, and
A Newport Beach, California-based company is looking to redevelop the historic Turf Paradise in north Phoenix. CT Realty is under contract to purchase the horse racing track and its 252-acre site and redevelop portions of the property into industrial space, a data center and single-family
Taiwan Semiconductor Manufacturing Co. is seeking up to $15 billion in tax credits and grants from the federal government to support its Arizona semiconductor plants amid concerns about subsidy criteria, the Wall Street Journal reported Wednesday. TSMC expects to receive
On behalf of KBC Advisors Arizona, Phoenix-based Stevens-Leinweber Construction (SLC) has started construction on Empire 101, a new Class A industrial project fronting the Loop 101 freeway, north of Cactus Road in Peoria, Arizona. Located just 12 minutes from the
Overlooking Tempe Town Lake, adjacent to the Arizona State University campus, a massive mixed-use development called the Novus Innovation Corridor is taking shape. Development is still underway, and it will continue for years to come. However, the project
A Las Vegas industrial developer is eyeing 600 acres for a new industrial center and mixed-use campus south of Phoenix that will represent an investment of more than $1 billion. Through two new projects in Casa Grande, IndiCap has proposed an industrial park
Arizona’s unemployment rate dropped again last month. It fell two-tenths of a percent to 3.5% from February into March. Arizona’s rate now matches the rest of the country’s. Doug Walls with the Arizona Department of Economic Opportunity says some
The developer has laid the groundwork for a big project in a prominent area of Scottsdale, but vertical construction is still a few months away. Hazel & Azure, a development that would bring more than
Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, broke ground on LogistiCenter at Copperwing, Wednesday, April 19, 2023, commencing
Forget co-working. Metro Phoenix is getting a co-warehousing facility, and it could be a game-changer for local businesses. Driving the news: Logistics company Saltbox opened a facility near Elliot and Kyrene roads in Tempe this month that
Valtus Capital Group, a Las Vegas investment banking firm, has created a real estate private equity group to build rental units across the Southwestern United States. Plans call for starting in Arizona, where the company intends to build more than
Clean energy investments and incentives – passed thanks to President Biden and Congressional Democrats – have turbocharged our clean energy economy in Arizona. Since becoming law on August 16th, clean energy companies have
Phoenix has emerged on top as the fastest-growing industrial market in North America, according to real estate experts. The Phoenix metro’s industrial market had a growth rate of
Close on the heels of its 250,000-square-foot “Building 109” groundbreaking, SkyBridge Arizona has started construction on a second 250,000-square-foot building, “Building 108.” Together, the buildings bring
The owner of Turf Paradise, a historic 1,400-acre horse racetrack in north Phoenix, is negotiating to sell to a developer. Vincent Francia, general manager of Turf Paradise, said the track’s owner, Jerry Simms, has signed an agreement to
Life insurance companies, until recently a reliable source of capital for commercial property developers, are shunning office building owners as tens of billions of dollars in office loans come due this year. The Wall Street Journal reported that
Blackstone through its affordable housing portfolio company, April Housing, and Dominium will develop Casa Azure, which will bring 196 new affordable housing units to Phoenix, AZ. Blackstone will provide
For the first time since the Federal Reserve began raising interest rates in early 2022, underwriting assumptions for prime multifamily assets are beginning to stabilize, CBRE reported. The average multifamily going-in cap rate increased by
Tempe City Council will vote on three projects this week that would each bring hundreds of apartment units if approved. Those projects, which are set to be heard on April 20, include 16 East University, Rio 2100 Residences and IDM Fountainhead
Scottsdale-based luxury home developer, Silver Sky Development, has announced the unanimous approval of its 12-lot luxury estate home site in Paradise Valley, Ariz., by the Town of Paradise Valley Council. Silver Sky, named in honor of
Condo owners looking to upgrade to a house in many metro Phoenix areas will have to save for years to afford the larger space, according to a new analysis by real estate company Point2. Why it matters: Bigger homes have
Two economic impact studies that examine the proposed entertainment district development in Tempe by the owner of the Arizona Coyotes were released Monday with very different results. With less than a month until
Stockdale Capital Partners, a Los Angeles-based, vertically-integrated real estate investment firm, is committing over $20 million on a major renovation plan to finish converting Ilume Innovation Center in Scottsdale, Arizona to be
RED Development and Globe Corp. have formed a joint venture to build a 150-acre mixed-use development in the growing city of Goodyear, Ariz., that will create an upscale entertainment hub called GSQ, with