Today’s News 8-18-2025

The developer of a $650 million project to build Arizona’s tallest tower won’t break ground in 2025, after all. Originally projected to break ground during the second quarter, the project is getting pushed back to potentially break ground in downtown Phoenix by the back half of 2026. Aspirant Development, developer of the Astra, is still working on finalizing financing…»

A dramatic shift is reshaping the nation’s rental housing market. According to RealPage, 15 of the 50 largest U.S. apartment markets posted all-time record demand in the year ending with the second quarter of 2025. In these cities, absorption not only far outpaced historical averages but also surged ahead of elevated completion volumes, marking a decisive turn in…»

Washington, D.C.-based investor Fundrise has secured a $352.7 million refinancing for a national industrial portfolio through a deal arranged by JLL Capital Markets. Goldman Sachs and TPG Real Estate Credit provided the loan for the 12-building portfolio spanning 3.18 million square feet across major U.S. logistics markets. The borrower, affiliate funds of Fundrise…»

The retail landscape in 2025 has continued to change. Department and big box stores have shuttered some or all of their locations — even the once staple of every mall, Forever 21, couldn’t stave off online competition. “People have endless options when it comes to where and how they shop,” stated a January news release from Macy’s that also announced the…»

Sonora West Development, the luxury home builder that has completed over 500 projects totaling nearly $1 billion since 2001, has broken ground on two new luxury developments: the four-home Camelback Palms community in Phoenix and the 31-lot Solace development in Carefree, Arizona. Construction is already underway at Camelback Palms and Royal Palms Resort…»