While multifamily growth will continue rolling forward, 2014 may tap the brakes a bit. Freddie Mac released its 2014 Multifamily Economic Outlook on Friday noting that rent growth and vacancy will remain positive but should slow down compared to 2013. The report states the overall health of the economy should stimulate job growth bringing more young adults into the labor force and causing more demand for rentals… Read more
Hudye Group Ravenwood LP., a limited partnership formed by Benedict Hudye of Scottsdale, paid $44.5 million ($185,417 per unit) to acquire the 240-unit Alta Ravenwood rental townhomes located at 647 W. Baseline Road in Tempe. The seller was Alta Ravenwood Owner LLC, a joint venture formed by Wood Partners in Marietta, Ga. (Leonard Wood, principal) and Boston Capital in Boston, Mass… Read more
BH Properties is continuing its renewed Southwest strategy. It’s consistent with a statement Steve Jaffe, executive vice president and general counsel for the company, made to GlobeSt.com in an exclusive interview. The company has acquired its third retail property in Arizona, adding to its expanding portfolio… Read more
ORION Investment Real Estate is pleased to announce the closing of the Forum at Gilbert Ranch located at 1464 & 1524 East Williams Field Road in Gilbert, Ariz. for $6.8 million ($254 per SF) to Cave Creek Capital Partners (Jeff Levine & Mark Schulman) of Scottsdale, AZ… Read more
The past week has proven to be interesting, to say the least. However, this is the stuff of dissertation and not a brief morning economic update to be read while drinking coffee. We will say this though: now is the time to again promote the best that Arizona has to offer and to continue the good work of building the state’s economy…Read more