Commercial Real Estate & Business News – December 16, 2020

Vaccine Approval Could Mark a Turning Point in CRE Price Discovery
Investors hoping to cash in on a COVID-19 pricing discounts may see opportunities slip away as emergency-use approval of the first vaccine against in the virus was granted to Pfizer and with availability expected to grow as other firms gain approvals in the coming weeks and months…»
Here’s What is New for Arizona Hotel and Resort Industry Heading Into 2021
The past several years have been a time of great change – at first very good and now a bit more challenging (to say the least) — for the Arizona hotel and lodging industry. Certainly, the impact of COVID-19 has been felt far and wide across the globe, with perhaps no group hit harder…»
Multifamily Investors Are Ending 2020 on a Brisk Buying Clip
Apartment investors are in a hurry to make up for lost time. They are trading billions of dollars in apartment properties—a pace of activity that’s double or even triple the volume of sales from the fall. Buyers and sellers have closed deals despite the coronavirus pandemic worsening…»
More Renters Left Phoenix Compared With Last Year and Less Moved In‘s year-end report is out, with a thorough insight on the rental market during 2020 — likely to become a reference year for a long time. Overall renter activity was hampered as the pandemic affected the start of the rental season, delaying it by two months and making it shorter. Each US city…»
Sares-Regis Sells Phoenix Apartment Community for $90M
Alanza Place Apartments in Phoenix traded hands for more than $90 million. The 360-unit multifamily asset was acquired by a group of investors led by Colorado investor Daniel Feiner. The seller was an entity affiliated with Irvine, CA-based Sares-Regis Group. The 344,194-square-foot property at 1121 N. 44th…»