Commercial Real Estate & Business News – June 13, 2022

Gainey Business Bank Granted Final Approval, Set to Open in June

Gainey Business Bank has received its final approval from the Federal Deposit Insurance Corp. and state charter from the Arizona Department of Insurance and Financial Institutions and will open its doors by the end of June…»

Multifamily Rent Gains Continue in May


Multifamily rent growth continues to remain strong, outpacing every year other than 2021, according to the latest Yardi Matrix Multifamily Report. The average U.S. asking rate rose $19 in May to an all-time high of $1,680. Asking rents have  …»

Analyzing the Explosive 25.4% Growth in Phoenix Apartment Rents

Renters have changed the trajectory of investors’ expectations for the multifamily sector as they continue to relocate to affordable metros and suburban neighborhoods. Experts largely believed apartment rents would begin to…»

Phoenix Looks to Redevelop Downtown Parking Lot Into Potential High-Rise

The city of Phoenix is looking to open up several parcels of land in the growing area of downtown for potential commercial or residential development. The land, located on the southeast corner of McKinley and First streets, is currently used by …»

Report: Homeowners Gain $3.8T in Equity During Q1 2022

May 2022 home prices continued their upward trend, due to ongoing demand and limited supply. Also on the rise? Homeowner equity.The CoreLogic Homeowner Equity Insights Report indicated that homeowners with   …»