Commercial Real Estate & Business News – August 11, 2020

Americans are Sitting on Record Cash Savings Amid Pandemic and Uncertain Economy
While millions of people could lose most or all of the $600 bonus in their weekly unemployment benefits, threatening to slow consumer spending and the nation’s economic recovery, one thing could help cushion the blow: Americans have been saving lots of money…»
Scottsdale Tops All U.S. Cities With More People Moving in During COVID-19
HireAHelper, the online marketplace for finding, comparing and booking moving transportation and services, today released results from a new study examining U.S. moving trends and Scottsdale wins the popularity contest. This study is a unique and nuanced view of more…»
Uptown’s 1st Boutique Hotel ARRIVE Phoenix Opens Labor Day Weekend
Now accepting reservations, and featuring high-tech safety protocols, ARRIVE Phoenix invites visitors and locals alike to explore its gorgeous open-air design and gracious home-grown hospitality when Uptown Phoenix’s first-ever neighborhood hotel opens this September…»
Knightvest Capital Pays $62.5 Million for Apartments in South Tempe, Arizona
Multifamily investor Knightvest Capital bought Signature Place apartment complex in south Tempe, Arizona, for $62.5 million, underscoring the continued strong investor demand for multifamily rental housing in greater Phoenix during the coronavirus pandemic. Multifamily investor…»
Taurus Investment Buys Phoenix Community for $26M
Taurus Investment Holdings has made its Phoenix debut by acquiring Avenel on 16th, a 200-unit garden-style community just north of the city’s downtown. Rincon Partners sold the asset for $25.9 million, according to Yardi Matrix, with NorthMarq Capital originating an $18.8 million…»