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LivCor LLC, an affiliate of Blackstone Real Estate Advisors L.P. (NYSE:BX), has added to its multi-family holdings in the Valley by paying $40.7 million ($104,897 per unit) to acquire the 388-unit Sonora Canyon apartments at 265 N. Gilbert Road in Mesa. The seller was a joint venture formed by Security Properties Inc. in Seattle and Aetna Life Insurance Co…» |
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Now that there’s a signed agreement in place, a 77,000-square-foot retail and dining project in Downtown Chandler is planned to open its first phase in December 2017…» |
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The Muller Company, in a joint venture with investment firm Harbert Management Corporation, announced that the $20 million redevelopment of Sky Harbor Towers office complex is nearing completion of its first phase. The 13.6-acre, two-building office campus located at the intersection of Interstate 10 and State Route 143 is anticipated for move in this spring…» |
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The erosion of homeownership has been one legacy of the housing boom-and-bust of the last decade. The homeownership rate peaked at 69 percent in 2004, inflated by relatively easy mortgage credit primarily provided by subprime and low/no-doc loan products. The drop in homeownership continued through 2016, with the homeowner rate just a tad above 63 percent, the lowest annual average in 50 years (Figure 1). But we may be at or near the bottom of the homeowner decline…» |
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The U.S. experienced its lowest ever mover rate between 2015 and 2016, according to the U.S. Census Bureau’s recent population survey. How does this affect the real estate industry?…» |