Commercial Real Estate & Business News – January 9, 2025

San Diego-based Tower 16 Capital Partners has successfully acquired Yardly McDowell, a 167-unit, Build-to-Rent (“BTR”) multifamily property located in the rapidly growing West Valley of Phoenix, AZ. The property was built in 2023 and was acquired for $46.5 million, well below…»

After more than a year in receivership, the Adero Scottsdale Resort has a new owner. The 177-room property in Scottsdale along the border of neighboring Fountain Hills, which was known as the CopperWynd Resort before a $100 million renovation and rebrand in the late 2010s, was sold…»

Since before the U.S. presidential election in November, there has been speculation about how Donald Trump’s announced policies might affect inflation and, as a byproduct, interest rates. Now some big names in economics are saying that the impacts on inflation wouldn’t be as extreme…»

Momentum seems to be building in the American manufacturing sector after more than two years of weakness. The Purchasing Manager’s Index (PMI) from the Institute for Supply Management (ISM) moved higher for the second consecutive month in December despite the sector…»

Housing affordability improved slightly in 2024, but purchasing and owning a home was still financially out of reach for the typical U.S. household. Affordability improved because wage growth remained strong, at 4%, while the increase of housing-related costs slowed, thanks in part to a…»