Commercial Real Estate & Business News – August 20, 2015

Banner Health Construction Projects Total $1.5 Billion This Year

Phoenix-based Banner Health is Arizona’s largest private employer ? and about to get bigger. With operations in seven states, Banner has 337 active projects on its books totaling $1.5 billion, with $1.2 billion of those projects in Arizona. That’s not counting the $500 million patient tower it’s building in Tucson as part of its new relationship with University of Arizona… Read more »

Developers Betting Baby Boomer Building Boom has Arrived for Seniors Housing

All the attention given to millennials and their penchant for bicycle-and-rail riding urban apartment dwellings in recent quarters has somewhat obscured the simple demographic fact that the largest cohort for U.S. rental housing demand is the tens of thousands of baby boomers turning retirement age and becoming seniors each day. Seniors housing and care investors and developers have responded with the largest pipeline of new senior housing construction in six years… Read more »

Tempe OKs 260-Unit ?University Village?

Legacy Partners Residential?s proposed 260-unit infill project near Rural and Terrace roads in Tempe moved one step closer to reality following zoning and other necessary approvals by the city?s Development Review Commission late last month. The plans call for a mixed-use multi-family development with 775 bedrooms and approximately 1,800SF of ground level retail space in a five story building situated on 4.6 acres… Read more »

New Leaf Communities to Build 5-Story Apartments at SR-51 & Shea Blvd

Phoenix urban infill continues with the planned addition of 147 new multifamily units just north of the SR-51 and Shea Boulevard intersection. New Leaf Communities purchased the 4-acre property on Friday, August 16th, for just over $1.5 million. The site is currently occupied by a 14,533 square foot retail building, set for demolition. Phoenix City Council approved plans for the ?View 32? project On July 1st. Plans call for around 60,000 square feet of apartments in one four-story building… Read more »

International Money Is Stretching Out the Recovery Cycle

Remember the phrase ?follow the money??meaning that understanding a complex deal requires examines where funds are heading? Today, an appreciation of our elongated recovery might actually mean looking in the opposite direction, at the burgeoning source of real estate investment capital. It?s called capital flows, as international sources of money are increasingly being invested in U.S. real estate… Read more »