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Commercial Real Estate & Business News – March 5, 2015

Regional and Mid-Sized Banks Outpace Larger Competitors in Growing CRE Loan Portfolios

A key trend that emerged among U.S. banks last year was a wide variation in commercial real estate lending by bank size and loan type, with the largest regional banks and mid-sized banks showing the strongest loan growth, but a significant pullback by the nation?s smallest banks. Bank loan growth rates were especially strong in the construction and development (C&D) and multifamily categories, while lending in the owner-occupied category, which makes up many small business loans, remained weak… Read more »

Viad Tower Renamed As City Hopes To Brand Midtown Arts District

One of Phoenix’s most well-known office buildings has a new name. The Viad Corporate Center on Central Avenue north of McDowell Road has been named the Central Arts Plaza. The building used to be the corporate headquarters of the Dial Corp. Phoenix Mayor Greg Stanton and the owners of the Midtown building ? California-based McCarthy Cook & Co. ? announced the renaming this morning… Read more »

Builder Proposes 132 New Homes At South Chandler Site

A proposal that would bring 132 new homes to an area of south Chandler has drawn opposition from city planning staff in advance of a city panel’s consideration. Mattamy Homes, which has built subdivisions in Mesa and several West Valley communities, is seeking zoning that would allow it to construct the homes on the south side of Queen Creek Road just east of Arizona Avenue… Read more »

Mortgage REITs Hit Capital Market Potholes on Road to IPOs

Investors hoping to take mortgage REITs public appear to have hit a bumpy stretch in the last couple of months. While one new mortgage firm completed its IPO and two others are proceeding, three have withdrawn their offerings in the last three months, and a fourth has postponed its IPO plans. Meanwhile, stock prices of existing mortgage REITs have performed only modestly… Read more »

Ironline to Remake Warehouse as Office Space

Hot on the heels of acquiring a warehouse/showroom in downtown Phoenix for $3 million, Ironline Partners has revealed plans for an adaptive reuse project. The local investment, development and management company plans to transform the property at 841 E. Jefferson St. into an office building… Read more »