Commercial Real Estate & Business News – January 27, 2021

ZOM Living has acquired a portfolio of four parcels totaling 33 acres in Phoenix and Scottsdale, Ariz., with plans to deliver thousands of new apartment units during the coming years. The plan marks the firm’s entry to the Arizona market. The Florida‐based firm intends to build up to 1,600 luxury units as part of a first…»
Commercial construction firm McShane Construction expects to soon break ground on the eighth apartment complex it would have underway in Phoenix, a striking illustration of the boom in multifamily development in the city. Developer Crescent Communities has hired McShane to build Novel Val Vista…»
Phoenix is expected to be the second-hottest home market in the U.S. in 2021, according to the results of a recent survey published by Zillow Inc. The Zillow Home Price Expectations Survey takes into account the predictions of more than 100 economists and real estate experts. More than half…»
Arizona also home to two popular universities, multiple national parks (ever heard of the Grand Canyon?) and thriving cities with plenty of opportunities. And did we mention the weather? That hot desert climate means plenty of sunshine and shorts all year-round. With so much to offer, the cheapest places…»
The Trepp CMBS delinquency rate continued to recede for the last month of 2020. After two huge jumps in May and June, the rate has now declined for six consecutive months. The Trepp CMBS Delinquency Rate in December was 7.8 percent, a decline of 36 basis points from the November number…»