Commercial Real Estate & Business News May 1, 2018

Pacific Investment Management Co. is raising money for a new, multibillion-dollar commercial real estate debt fund, the bond manager’s latest foray into more lucrative – and less liquid – markets, people familiar with the matter said. Pimco Commercial Real Estate Debt, or PCRED, will invest in both public and private debt…»
The groundwork has been laid for a much more transactional market toward the end of 2018 and 2019. The most telling indicator for this is our company’s 1Q18 asset evaluations, which were up 50 percent compared to our normal quarterly average. We also did more evaluations in March than any month since August 2014, which in hindsight was a prelude to a very busy 2015…»
More financial services and financial technology workers were hired in the Valley than anywhere else in the U.S. in 2017. The U.S. Bureau of Labor Statistics says more than 127,000 Phoenix metro workers were hired by financial and insurance services. That’s more than Dallas, the leading metro for employment in the sector, and more than Wall Street…»
Arizona State University’s Thunderbird School of Global Management will soon move to downtown Phoenix after operating in Glendale for 72 years. But questions remain – along with a push to preserve portions of the site that once was a flying field to train World War II pilots – about redeveloping the 140-acre campus at 59th Avenue and Greenway Road.…»
The number of homes for sale in Phoenix and around the U.S. is shrinking, putting a squeeze on prices that is costing buyers more, according to Zillow. In Phoenix, inventory for all three home levels Zillow tracks are below last year’s level, and there were a total of 18,062 homes for sale in the region, according to the March statistics.…»