Commercial Real Estate & Business News – February 17, 2022

The Mortgage Bankers Association (MBA) released its 2022 forecast for commercial multifamily mortgage borrowing and lending at the annual Commercial/Multifamily Finance Convention & Expo this week in San Diego. It is predicting mortgage borrowing and lending to…»
While many of the nation’s businesses have struggled throughout the pandemic, the economy of Metro Phoenix has been firing on all cylinders. “Arizona has been the benefactor of many elements that have helped the economy, including attracting…»
The historic Egyptian Motor Hotel on Grand Avenue in Phoenix is reopening after a major restoration. When it reopens on March 1, the Egyptian “will be a mecca for nightlife, live entertainment, hospitality and dining,” according to an announcement. Chilte, a…»
Last year, multifamily property developers pulled construction permits for 550,400 units for complexes containing five or more units, a 24% increase over the previous year and the highest number of permits pulled for new apartments in 35 years. Historically, rising…»
As the world nears the second anniversary of the Covid-19 pandemic next month, analysts say the U.S. economy is almost entirely “back to normal.” Arizona’s economy is operating at 97% of where it was in March 2020, according to the Back-to-Normal Index, published…»