Commercial Real Estate & Business News – November 27, 2023

In the first installment of our outlook series, senior housing experts discuss trends and challenges for the year to come. Senior housing occupancy rates have been constantly improving over the past nine quarters, supported by strong demand and fairly limited supply. Tight financing…»

Pennrose Properties has broken ground on Garfield Housing Phase II, a 60-unit affordable housing project for seniors in Phoenix. The development team includes the City of Phoenix, Butler Housing Co., CBC Financial Corp. and the Arizona Department of Housing. The architect…»

At face value, the numbers could be considered alarming. According to a recent report in CommercialEdge, the total office debt nationwide is $920 billion, with nearly $150 billion of mortgages set to mature by the end of 2024. Furthermore, more than $300 billion of mortgages are slated to…»

Every year, AZ Big Media, which publishes both PTK and AZRE magazines selects Arizona’s top people and projects to showcase in its premier commercial real estate magazine — PTK — from an impressive and competitive nomination pool. Each day we will highlight 20 different categories of People…»

Nearly one-third of all debt in the sector will come due by the end of 2026, a CommercialEdge market bulletin shows. Net income for office properties has grown harder and harder to maintain as the number of challenges for the sector has continued to grow. The national vacancy rate as…»