Commercial Real Estate & Business News – March 20, 2023

The pandemic set off an unusual time in multifamily. The sector became part of the short game. Rents drove upward, responding to increased prices, and things moved very fast. But with the shifts of the market, it’s time for the long game…»

Famous robber Willie Sutton said he never provided the famous answer to the question of why he robbed banks: “That’s where the money is.” Some reporter apparently made it up. Still, a great line. At its heart there is a pithy explanation of…»

The collapse of three U.S. banks means that one of the toughest real estate lending environments in decades is about to get even tighter, adding a new hurdle to an already challenging time for dealmaking. Since last summer…»

Big banks have come with a $30 billion unsecured rescue deposit for First Republic Bank in its efforts to stay afloat. The extraordinary deal involves 11 of the largest banks in the country: Bank of America, Citigroup, JPMorgan Chase and Wells Fargo…»

Atlanta-based EV Hotel Group is seeking a $150,000 grant to help with costs in redeveloping and preserving the former City Center Motel in downtown Phoenix. The company is planning to build one of its first smart hotels around…»