Commercial Real Estate & Business News – June 7, 2021

As Arizona’s economy rebounds from the pandemic, the state’s population is growing, jobs are being created and travel and tourism are coming back.The state could soon recoup all of the jobs lost in last year’s recession, with no housing bubble on the horizon despite rising home prices…»
Single family rentals have come up as one of the rising stars of post-pandemic CRE. A recent Walker & Dunlop report predicted that SFRs would outpace multifamily, office, retail, storage, and hospitality growth by 2022. The SFR market is already worth an estimated $3.4 trillion annually; the…»
The Arizona commercial real estate industry is red-got right now, ranking among the best markets for multifamily sales in the nation. Those rankings are backed up by the biggest commercial real estate deals in Metro Phoenix, according to data collected by the commercial real estate tracking…»
ZMR Capital bought its second apartment property in the Phoenix market, just weeks after acquiring its first in the metropolitan area. The apartment investment firm, based in Orlando, Florida, paid $40.6 million for the 240-unit apartment complex at 15620 N. 25th Ave., according to…»
Two giant real estate investment firms are partnering to buy the balance of Vistancia, a 7,100-acre master-planned community in Peoria. Newport Beach, California-based IHP Capital Partners teamed up with Minneapolis-based Varde Partners to acquire the remaining 3,721 acres of land…»