Commercial Real Estate & Business News – August 9, 2017

By a number of measures, the multifamily sector continues to defy expectations of ‘cooling down’ over the second half of the year and loan origination projections for multifamily property is now projected to grow for the rest of 2017 and into 2018, according to new analysis from Freddie Mac and Kroll Bond Rating Agency analysis of Freddie Mac lending. While the multifamily market continues to attract investments and capital, market uncertainty in the first part of the year suggested that 2017 full-year volume might taper off…»
IRVINE, CA-Positive demographic trends are keeping wind in the apartment market’s sails even as fundamentals are becoming spotty, Ten-X Commercial saidThursday. Among the areas in which fundamentals are uneven is the supply pipeline, a contributing factor in most of the top five markets in which Ten-X recommends that investors consider selling their apartment properties. Ten-X Commercial’s latest US Multifamily Outlook report shows that vacancies nationwide rose 10 basis points during the first quarter…»
P.B. Bell, a multifamily specialist, with joint venture partner Gilbane Development Co., have broken ground on resort-style apartments in the Ocotillo master-planned community in Chandler, Ariz., Arista at Ocotillo. MT Builders is the general contractor. The 211-unit property will offer one-, two- and three-bedroom units. As a gated community, the Arista at Ocotillo residences will be accessed by interior corridors with elevators…»
Topgolf is planning a location near the Arizona Cardinals stadium and Westgate Entertainment District in Glendale, the company announced Tuesday. This would be the West Valley’s first Topgolf and the fourth in Arizona, joining Gilbert, Scottsdale and Tucson, where a location is opening this winter. The popular entertainment venue mixes socializing and sports, with a restaurant, a bar and climate-controlled driving ranges on three stories…»
Skanska, one of the world’s leading construction and development firms, is beginning construction on upgrades to the Arizona Center located at 455 N. Third Street in Phoenix. This $11.6 million project will provide Arizona Center customers and tenants with an updated and upgraded shopping and dining experience. Skanska’s scope of work includes an exterior finishes upgrade of the open air retail space…»