Commercial Real Estate & Business News January 16, 2020

CMBS Delinquencies to Stay Low in 2020-With One Exception All signs point to CMBS delinquencies staying at their current low level in the year ahead. The 30+ day delinquency metric had reached a new post-crisis low in December, at 1.45 percent, according to Fitch Ratings-below the last cycle low reached in February 2009. The rate was also 7 basis points below that recorded in November of 2019 and…»
High-profile Scottsdale Movie Theater Location to Close
The luxury iPic movie theater in Scottsdale will show its final film at the end of January. The Boca Raton, Florida-based company’s theater, located at the Scottsdale Quarter shopping center, sent out an email to local members Tuesday informing them there are only a couple of weeks left to attend the theater. Its last day in operation will…»
Marriott Sells Sheraton Phoenix Downtown to the Blackstone Group. Here’s What We know
In what could be described as a multimillion-dollar flip, Marriott has sold Arizona’s largest hotel, the 1,003-room Sheraton Phoenix Downtown, to the Blackstone Group a little more than 18 months after purchasing it from the city of Phoenix. The sale price is $268 million, according to a document Marriott has filed with the Securities and Exchange…»
What Keeps Multifamily Investors Up at Night
Berkadia surveys its mortgage banking and investment sales experts every year to see what issues are at the top of their minds. It also does an internal survey of prospective clients, which it doesn’t publish. This year’s results for the latter were surprising as the twain definitely did not meet. “We asked them the same question as we did…»
2020 Commercial Real Estate Outlook: Here’s How Phoenix Shapes Up
Consistency may be boring, but when it comes to the commercial real estate outlook and the Greater Phoenix commercial real estate industry, no change is good for business. “At this point in the market and cycle, Phoenix, literally, has everything,” said Roland Murphy, director of research at ABI Multifamily. “We’re still highly affordable, have…»