Commercial Real Estate & Business News – March 31, 2017

Once an overlooked niche, the student housing sector is attracting increased attention from major investors, who see the sector as offering less rental growth volatility and a recession-resistant hedge to conventional apartments. …»
Apartment landlords across the U.S. struggled through a tough first quarter as a slowdown in the rental market grew worse. Rents in the first quarter declined or were flat in 28 of the 79 metropolitan areas covered by Reis Inc., including New York, Portland, Denver, Boston, Los Angeles and Washington, D.C. …»

JPMorgan Chase & Co. is developing a big new 67-acre campus in Tempe with plans of eventually locating more 4,000 jobs there. Chase (NYSE: JPM) will land the big campus at the Discovery Business Campus at Elliot Road and the Loop 101 freeway. …»

Both Fannie Mae and Freddie Mac posted big multifamily financing volumes in 2016, with a significant amount of business coming in affordable housing. The activity is attributed to strong market conditions as well as product innovation from the government-sponsored enterprises (GSEs). …»
Developers will finally break ground in Downtown Phoenix on the much anticipated Block 23 mixed-use development, which will house the area’s first grocery store. RED Development will break ground on Block 23, which is located at First and Washington Streets, on April 13.…»