Commercial Real Estate & Business News – April 11, 2024
Blackstone to Sell Phoenix Luxury Resort for $705M Blackstone has struck an agreement to sell the Arizona Biltmore hotel to a London-based private equity real estate manager called Henderson Park for $705 million, according to Bloomberg, which cited people familiar with the matter as a source. The Phoenix property is…» Land-Banking Joint Venture Buys Lots […]
Commercial Real Estate & Business News – April 10, 2024
Multifamily Rent Growth Forecast Gets an Update Strengthening job growth data from Q4 2023, shifts in GDP forecasts and retail sales, and the imminent action of the Federal Reserve has RealPage updating its effective rent growth forecasts for major markets, including 12% of the top 50 to rise by 3% or higher this year. Most…» […]
Commercial Real Estate & Business News – April 9, 2024
TSMC Plans Third Fab in Phoenix, Increases Investment to $65 Billion On April 8, the Biden-Harris Administration announced that the U.S. Department of Commerce and Taiwan Semiconductor Manufacturing Company (TSMC) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $6.6 billion in direct funding under…» More Catholic Charities Affordable Housing Coming […]
Commercial Real Estate & Business News – April 8, 2024
Markets Wonder If There Will Be Only Two Rate Cuts This Year At the Federal Reserve, representatives say one thing and another. But the loudest voice is data, and it’s currently murmuring that rate cuts will be a long way off — and possibly not be the three reductions the Fed is currently promising. The […]
Commercial Real Estate & Business News – April 5, 2024
Consumers Continue To Carry the Economy Economic growth in the first quarter of 2024 appears to be on a rosy trajectory. Multiple reports show that consumers continue to carry the economy by spending freely despite still-elevated inflation and debt levels ticking higher. Growth in the 2% to 2.5% range for the…» Why It’s So Expensive […]
Commercial Real Estate & Business News – April 4, 2024
Shake Shack, Chipotle Jump on Drive-Thru Bandwagon in Scottsdale Two of the largest companies in the quick-service restaurant space, Shake Shack and Chipotle, are opening their Scottsdale first drive-thru locations this month. The moves are yet another indicator that drive-thru continues to be one of the strongest trends in the restaurant…» Five Markets Desired By […]