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Commercial Real Estate & Business News – June 11, 2024

Multifamily Feels Pressure on Loans and Increased Inventory

To understand the concerns over multifamily, all it takes is a stroll through the numbers in Newmark’s 2024 Q1 United States Multifamily Capital Markets Report. Inventories and operating costs are up, rent growth is negative, and $669 billion in loans, many “in a very different...»

Bank of America-Leased Campus Sells for $44M in Phoenix

A private investor has paid $44.3 million for the leasehold interest in Sky Harbor Center, a recently renovated, 534,849-square-foot office campus in Phoenix. The buyer financed the purchase with a $43.6 million loan from Zions Bank, public records show. Cushman & Wakefield…»

Phoenix is No. 1 in Nation for Largest Active Industrial Pipeline

In the last decade, six different industrial submarkets have more than doubled in size, while an additional seven grew between 50% and 100%. But as we stand today, Phoenix is No. 1 in the nation with the largest active industrial pipeline. A wave of industrial development…»

CRE Pricing Inches Upward in May

The Green Street Commercial Property Price Index increased 0.7% in May from the previous month. The all-property index, a measure of pricing for institutional-quality commercial real estate, has increased 1% this year and is now 21% below its peak in March 2022. “Property pricing this year…»

Blackstone Exec: Liquidity Is Coming Back to Private Markets

Transactions, liquidity, price discovery, and valuations spin in a circle. Recently, the lack of transactions has affected valuations, which makes qualifying for liquidity through financing difficult to obtain, driving down valuations when owners have to sell for lack of refinancing…»