Commercial Real Estate & Business News – October 18, 2013
2013 Store Closings Likely to Be in Line with Last Year’s Now that the nation no longer faces the threat of imminent default, it’s safe to assume store closings this year will be either on par with or lower than in 2012, industry insiders say. The fourth quarter is always a time of anxiety for […]
Commercial Real Estate & Business News – October 17, 2013
DMB Associates Unveils Vision For Verrado’s Next Generation Community’ DMB Associates broke ground today on “Victory,” totaling approximately 1,200 acres, representing the next generation of communities for people 55+ years and better. “We’ve created a neighborhood in our thriving small town community of Verrado where people can explore the life they have waited to live […]
Commercial Real Estate & Business News – October 16, 2013
Finesa/Alliance Venture Pays $14.75 Million For Tempe Multi-family Project A joint venture formed by Finesa Real Estate Group in Rockville, Md. (Andres Gonzalez, pres.) and Phoenix-based Alliance Residential Co. (Bruce Ward, Bob Hutt, Jay Hiemenz, partners) paid $14.75 million ($175,595 per unit) to buy 84 units within the 90-unit Dorsey Place Condominiums at 1275 E. […]
Commercial Real Estate & Business News – October 15, 2013
Performing Multifamily Loans Hit the Market A great deal of activity is surfacing in the multifamily sector in the form of nonperforming loan sales this week. Freddie Mac on Monday completed its first multifamily bulk loan sale. The GSE announced that an affiliate of Colony Capital acquired 27 performing multifamily mortgages with a total unpaid […]
Commercial Real Estate & Business News – October 14, 2013 – Happy Columbus Day!
Canadian REIT Acquires Two Area Office Buildings U.S. Bank has closed on two loans, totaling more than $31 million, for Artis, a Winnipeg, Canada-based REIT, to acquire two office buildings in the Phoenix area: ASM America Headquarters Building and North Scottsdale Corporate Center II. “The REIT model continues to expand globally, and Canadian companies are […]
Commercial Real Estate & Business News – October 11, 2013
Real Estate Boom in Phoenix Brings Its Own Problems Here, where the housing market endured one of the hardest crashes anywhere during the recession, the rebound has come faster than in most parts of the country, fueled by a vigorous job market, a sturdy rise in home values and an all-around sense that the […]