Commercial Real Estate & Business News – December 22, 2016

Loan delinquency rates for both commercial and multifamily mortgage loans remained low during the third quarter of 2016, according to the Mortgage Bankers Association’s (MBA’s) Commercial/Multifamily Delinquency Report…»

Interest rates are finally rising, but that doesn’t mean cap rates on apartment properties have to rise too. “This interest rate increase could be a non-event on cap rates,” says James Costello, senior vice president for New York City-based research firm Real Capital Analytics (RCA)…»

Arizona’s population is poised to top 7 million people next year, based on average and highest growth rates since 2010, according to the U.S. Census Bureau. Arizona ranked 8th in 2016 population growth by percentage over 2015. Added to that estimate, the Bureau of Economic Analysis reports personal income in Arizona increased 1 percent in the third quarter this year over the second quarter…»

Columbia had owned the three-story complex since April 2006, when it paid $59.25 million ($222 per square foot) to Deutsche Asset & Wealth Management for the assets. SanTan Corporate Center totals a combined 267,000 square feet of class A office space. Built in 2000 and 2003, the assets sit on 16.4 acres in the South Tempe/Ahwatukee submarket…»

Prices are expected to rise more slowly in 2017 and while rising home values are freeing home owners from negative equity, allowing them to re-enter the market, some 10.9% are still underwater…»