Commercial Real Estate & Business News January 31, 2019

Phoenix Investments Mature at Record Speeds
Investors aren’t only finding yields in the Phoenix market, but speed as well. Capital Square 1031, which specializes in Delaware statutory trust offerings, has brought a property full-cycle in record time and has achieved 131% return on equity and an 18% annualized return of equity. The firm sold Crossroads Apartments, a 316-unit multifamily property in…»
Valley Makes Huge Jump in Annual ‘Best Performing Cities’ Ranking
The Phoenix region saw a big jump in the latest ‘Best Performing Cities’ rankings from the Milken Institute. The Valley climbed 20 spots to land at No. 20 on the prestigious annual list, which measures the economic vitality of the 200 largest metro areas in the U.S. as well as 201 small cities. The rankings are based on several key metrics, including growth in…»
Sky Harbor Sets Passenger Record in 2018
A record number of passengers flew in and out of Phoenix Sky Harbor International Airport in 2018. The Valley’s primary airport saw a total of 44,943,686 passengers in 2018, according to data released Tuesday by the city of Phoenix Aviation Department. That was a 2.3 percent increase compared to 2017 and surpassed the previous record of…»
Freddie Mac Sets Multifamily Production Record
Freddie Mac’s multifamily line of business set a record $77.5 billion in loan purchase and guarantee volume for 2018 and $500 million in low-income housing tax credit (LIHTC) equity investments. The $78 billion in total production bests the company’s prior record of $73.2 billion set in 2017. Overall, the company financed more than 860,000…»
US Saw Steady Year on Year Rental Growth in 12 Months to November 2018
Rent growth in the United States was steady in the 12 months to November 2018, up by 2.9%, up marginally from the 2.8% recorded in the same month in 2017. The growth is highest year on year in Las Vegas with a rise of 6.7% and the analysis from real estate firm CoreLogic also shows that at the lower end of the lettings market rents increased…»