Commercial Real Estate & Business News – August 1, 2017

A joint venture between BB Living Residential and real estate developer Mike Zerbib has bought 20 acres of land in Gilbert for a 216-unit homes-for-rent development. BB Living and Zerbib bought the land for approximately $4.7 million from Colony. The buyers are both based in Scottsdale. Bret Rinehart, Ben Heglie and Ryan Semro of Land Advisors Organization brokered the sale.…»
WASHINGTON (Reuters) – Loan officers at U.S. banks reported tightening lending standards on commercial real estate loans while terms for business loans remained largely unchanged, the Federal Reserve reported on Monday in a quarterly survey. The officers surveyed also reported a weakening in demand for both types of loans in the second quarter…»
As legacy retailers are folding under pressure from the industry’s sea change, mostly due to the rise of e-commerce and Inc. (NASDAQ: AMZN), the real estate community is looking toward two segments that are keeping the rise of Amazon at bay. At a recent Phoenix Business Journal real estate roundtable, industry leaders said retail’s saviors are those that offer discount products and those that offer unique, local goods…»
Respondents to RCLCO’s latest Market Sentiment Survey are feeling less optimistic than they were six months ago, but most still see continued stability in market conditions for the near to medium term. Nearly two-thirds (65 percent) of respondents believe the next U.S. real estate market downturn will not begin until at least 2019, and current sentiment remains more positive than it was 12 months ago…»
Starlight Investments, a Toronto-based privately held real estate investment and asset management firm, said it has formed a new partnership with a pair of undisclosed institutional investors to acquire $1.3 billion of recently constructed, class A, garden-style multifamily properties in Atlanta, Austin, Dallas, Denver, Orlando, Phoenix and Tampa. Starlight said the new partnership will target suburban markets for apartment communities constructed since 2012…»