Commercial Real Estate & Business News – July 24, 2014

New Lenders Enter Property Market and Think Small

A new group of lenders has begun to target properties valued at $10 million and less, and that is good news for mom and pop landlords and small-business owners. Lenders, including ones controlled by asset managers Waterfall Asset Management, Guggenheim Partners LLC and Sabal Financial Group LLC, have launched new programs this year focusing on loans to smaller properties. Many banks and other lenders have… Read more »

Economy Watch: Existing Home Sales Up in June; Inflation Still Subdued

The National Association of Realtors reported on Tuesday that total existing-home sales rose in June by 2.6 percent month over month to an annualized rate of 5.04 million units, compared with 4.91 units million in May. Sales are at their highest pace since October 2013 (when the rate was 5.13 million units), but remain 2.3 percent below the 5.16 million-unit pace in June 2013… Read more »

Phoenix Improving On Forbes ‘best Places For Business’ List

Phoenix is moving up in the world of Forbes rankings. The Phoenix metro area raked 56th on the magazine?s annual ?Best Places for Business and Careers? list. The list looks at the 200 largest metropolitan areas in the U.S. and factors in job growth, costs, income growth, educational attainment, projected economic growth, migration patters, and cultural and recreational opportunities… Read more »

Phoenix Still Near Top In Home Foreclosures Despite Falling Delinquency Rates

Phoenix ranked fifth nationwide for foreclosures among major U.S. markets between May 2013 and May 2014, according to new data from the CoreLogic real estate research firm. The Valley had more than 9,700 foreclosure during the 12-month period, trailing only Atlanta, Tampa-St. Petersburg, Florida, Orlando and Chicago. Despite a falling foreclosure and delinquent mortgage rate, Phoenix still… Read more »

Lennar Assembling Site Near ASU In Tempe To Develop 395 Apartments

Lennar Mutifamily Communities plans to build 395 apartments south of Arizona State University at Dorsey Lane and Apache Boulevard in Tempe. The company is assembling the 6.7-acre site in two purchases that are contingent on zoning approval. The planned apartments, being called The Hayden at Dorsey Station, are targeted for… Read more »