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Commercial Real Estate & Business News – February 5, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

Taylor Morrison Picks Up ~32 Acres Near I-17 and Loop 303 G. Thomas Hennessey, in his capacity as Vice President of Taylor Morrison Homes, has acquired a 31.58-acre parcel of land for $3.96m or $125,395.82 per acre. The property is located at the southwest corner of North Valley Parkway and Sonoran Drive just east of the southeast corner of the I-17 and Loop 303 interchange in Phoenix. View article…

City of Chandler seeks new business for downtown spot The City of Chandler is opening a Request for Interest (RFI) to attract a new and interesting business to Downtown. The city is looking for a retail, restaurant or entertainment concept that will complement the current businesses in downtown, drawing new visitors to the area. With 1,965 square feet, the location is the only space of this size in an historic building. The location is a city-owned building known as the Blue Peacock located on the historic square at 51 E. Boston Street, just north of City Hall. View article…

Investors placing big bets on real estate recovery Hedge funds and private equity firms have been rushing to scoop up companies and assets from every link of the housing supply chain including vacant land, parts manufacturers, foreclosed properties and homebuilders. CNNMoney reports that it’s not just hedge funds and equity firms, however, looking for a slice of the recovery. View article…

Sale efforts continue for Phoenix Coyotes in Glendale Hockey officials say they want to keep the Phoenix Coyotes in Glendale, even though terms of a new deal, or a buyer, have yet to emerge. Veteran sports executive Greg Jamison said he would continue his efforts to buy the team, despite missing a deadline on a lucrative and exclusive agreement with the city. View article…

Fannie Mae Provides $33.8B to Multifamily Sector in 2012 Fannie Mae maintained its position as the largest source for multifamily financing in 2012 after providing $33.8 billion to the sector. The figure translates into 560,000 multifamily units and represents the third highest acquisition year in the company’s history. Fannie Mae also announced its Delegated Underwriting and Servicing lenders delivered 98 percent of the GSE’s multifamily loan acquisitions for 2012. View article…

HOUSING:
Gilbert was state’s fastest-growing area in 2012 Homebuilders are once again seeing Gilbert as a land of opportunity as they build hundreds of new houses each month, making the town by far Arizona’s fastest-growing community last year. For two consecutive years, Gilbert has issued more single-family home permits than any other Arizona municipality, according to data from town officials and the Home Builders Association of Central Arizona. View article…

Report: Low Supply Points to Price Increases of 5-10% in 2013 The low supply of housing stock recently reported is giving Capital Economics reason to believe home price forecasts under 5 percent are actually conservative estimates. Realtors in December expected prices to rise by about 3.5 percent over the next year, while consumer estimates were more modest at 2.5 percent for the same time period, the analytics firm noted in its monthly housing report. The estimates show a growing optimism among those groups. View article…