Commercial Real Estate & Business News – September 28, 2023

Consumers and investors were spared from a 12th rate hike when Federal Reserve officials voted to keep their benchmark borrowing rate steady at their September meeting. Don’t take the pause as an indication that officials are ready to sound the all-clear on their firefight against inflation. Along with their September…»

The Federal Reserve’s Sept. 20, 2023, press release justified its actions in holding the Effective Federal Funds Rate (EFFR) at its current range of 5.25% to 5.5%. Briefly: Economic activity “expanding at a solid pace,” Continued substantial job gains and low unemployment, A “sound and…»

Following steep declines during the pandemic, retail properties came in as the second-most desirable capital investment during the first half of this year, following industrial/logistics assets. But, while the industry is bouncing back, demand is not felt evenly across the country. Retail is…»

Multifamily buildings constructed before 2010–approximately 13 years old or older—have posted strong rent growth of 4.6% on average over the last decade versus 3.4% for buildings after that benchmark, according to CBRE. The trend is mostly due to the fact that the older buildings have had lower average…»

Ideal Capital Group has purchased Cabana Happy Valley, a 292-unit class A multifamily property in Phoenix. Greenlight Communities sold the asset for $79.2 million, or $271,404 per unit. Institutional Property Advisors represented the seller, also procuring the buyer. CBRE Capital Advisors…»