Commercial Real Estate & Business News – July 16, 2013

Commercial Real Estate Investment Environment Continues to Improve

The commercial real estate industry continues to keep a steady pace of growth through the first half of the year as consumers and businesses are proving that they are committed to moving forward, according to CCIM Institute, one of the largest global commercial real estate networks, in its 2Q13 Quarterly Market Trends report produced in partnership with the National Association of REALTORS… Read more

About That $116B US Surplus

There is good news and bad news for the CRE industry, at least those who would dearly love to see the status quo of certain government programs and issues maintained. The US Treasury Department reported its largest monthly surplus — $116 billion– since before the start of the financial crisis last week. That, actually, is good news for everyone, CRE industry players or not. The good news for the industry specifically, is that one of the reasons for surprise boost were the payments from Fannie Mae and Freddie Mac, which are firing on all cylinders these days… Read more

GSE Multifamily Pipeline Going Strong

Fannie Mae and Freddie Mac’s multifamily operations are steadily progressing this year, with both GSEs pushing out deals on a regular basis. Fannie Mae recently announced it had issued approximately $7.6 billion of multifamily MBS in the second quarter of 2013, backed by new multifamily loans delivered by its lenders. Freddie Mac, for its part, just announced its eleventh K Certificate offering for the year. Freddie expects to offer approximately $1.37 billion in K Certificates… Read more

MF Effective Rent Growth Moves Up

There are signs of life in the Phoenix economy. This seems to be holding true for the multifamily sector – according to Axiometrics Inc. inventory, occupancy and effective rent growth are on the rise… Read more

San Diego Group to Buy Phoenix’s Hotel Monroe for $8M, Revive Hotel Plans

A San Diego hotel development group is lining up to buy the long-empty, historic Hotel Monroe building in downtown Phoenix for close to $8 million. The Art Deco-style building at Central Avenue and Monroe Street has been empty for years with a number of previous suitors unable to come to close a deal… Read more