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Commercial Real Estate & Business News – March 19, 2015

Fed Meeting Indicates Rates Could Rise, But Maybe Not in June

Counting on further improvement in the job market and rising inflation, the Federal Reserve Open Market Committee indicated it was moving closer to raising interest rates this year, though the changes likely won?t come for a few months, Bloomberg reports. Fed chairman Janet Yellen said the committee ?would probably wait at least two meetings before raising rates. The next FOMC meetings are scheduled for April and June.? Read more »

Latest Wave of New Apartments Shows Good Absorption

With so many new apartments being built across the country, the cities that have had the most new construction over the past five years show how the next wave of new apartments now under construction might be absorbed… Read more »

Tempe Offices Sell for Combined $44 Million

Two office complexes in Tempe have been sold for $40.9 million and $3.3 million, respectively. Hawaii-based KDI Investments bought the three-building Papago Arroyo complex on Washington Street near Center Parkway and the Loop 202 for $40.9 million. The complex totals 279,500 square feet and translates into $146 per square foot. The seller was California-basd Greenwood & McKenzie RE Investments… Read more »

Massachusetts Investor Spends $18.75 Million for Mesa Apartments

Deancurt Mesa LLC paid $18.75 million ($59,713 per unit) to buy the 314-unit Copper Ridge on McKellips apartments at 550 E. McKellips Road in Mesa. The seller was a company formed by Latitude Management Real Estate Investors Inc… Read more »

Americans Gaining Equity Seen Lifting Housing Market: Mortgages

Rising home prices have made it easier for more than a million Americans to sell their properties, giving a boost to the market. About 1.2 million more homeowners had 10 percent to 20 percent equity at the end of 2014 compared with a year earlier as their property gained value… Read more »