Commercial Real Estate & Business News – January 29, 2015

Purchases of new homes in the U.S. jumped in December to the highest level in more than six years, a sign the industry is poised to keep expanding in 2015. Sales increased 11.6 percent to a 481,000 annualized pace, exceeding all estimates in a Bloomberg survey of economists and the most since June 2008, figures from the Commerce Department showed Tuesday in Washington. Demand increased in three of four regions…Read more »
VanTrust Real Estate LLC in Kansas City, Mo. (David Harrison, pres.) is focusing on vertical development in the Valley with properties in Phoenix and Scottsdale that are planned for multi-family, industrial and office buildings. Larry Van Tuyl, who is the principal of VanTrust, has long been an owner of real estate in the Valley. Up until now, VanTrust has not delved into the vertical development business in the Phoenix market… Read more »
Palisades Private Capital Fund I (PPCFI), a $50 million fund sponsored by Palisades Mexico Partners (PMP), has acquired the office building at 4141 N. Scottsdale Rd. in Scottsdale, AZ from Westport Capital Partners (WCP) for $34.5 million, or about $234 per square foot. Built in 1989, the three-story, 147,356-square-foot, 4-Star office building sits on three acres in the Scottsdale South submarket of Maricopa County, at the corner of Indian School Road in the heart of Scottsdale’s Old Town area… Read more »
Prime locations, swimming pools and free food were a few of the perks Valley homeowners offered Olympia, Wash., resident Heath Howerton when he considered renting a house for his Super Bowl vacation. About 15 people replied to Howerton’s Craigslist posting earlier this month that said he was coming to Phoenix with five friends for five nights and needed a place to stay, he said. The group chose a 3-bedroom house about five minutes from the Arizona State University… Read more »
Last year, private equity debt funds raised a record amount of capital. A total of 26 global debt funds raised a combined $20 billion, which is up from 29 funds that raised $16 billion in 2013, according to data from London-based research firm Preqin. “We’re finding that the capital-raising environment is becoming more favorable from our perspective as the market has healed over the past three years,” says Bill Stasiulatis, a partner and managing director at Torchlight Investors… Read more »