Commercial Real Estate & Business News – January 5, 2023

National Real Estate Firm HCW Buys Sixth Hotel in Phoenix Region

Real estate development and management company HCW bought its sixth hotel in greater Phoenix, paying about $20 million for a Hyatt Place property in Gilbert. HCW, based in Branson, Missouri, paid $153,346 per room to buy the…»

Phoenix Led the Nation in Inflation in 2022, but Rise May Slow in 2023

After a year in which Metro Phoenix saw the nation’s highest inflation rate for metro areas, experts say consumers can expect inflation to ease in 2023 – but warn that it’s not going away entirely. The consumer price index for …»

Freddie Mac Says H2 Will Be Better for Multifamily

Multifamily fundamentals’ current trajectory indicates that it is on track for a healthy 2023, according to Freddie Mac, although it may be a stronger second half compared with the first half, according to its 2023 Multifamily Outlook report. Rents are …»

10 Home Markets With a High Risk of Price Decline

CoreLogic forecasts that home prices will decrease on a year-over-year basis by 2.8% from November 2022 to November 2023. In particular, its HPI Index cites several markets as ones that could suffer most over those next 12 months, including …»

Hilton and Marriott Branded Hotels Proposed in East Valley Town

Between two hotels, 280 more hotel rooms could be coming to Gilbert. On Wednesday evening, Gilbert Planning Commission will consider two separate proposals for a 146-key Hilton Garden Inn and 134-key Marriott Springhill Suites. The Hilton Garden Inn is…»