Commercial Real Estate & Business News – May 15, 2023

Five Star Development Secures $585M loan to Complete The Palmeraie

Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that it has originated a $585 million loan to Five Star Development for the completion of The Ritz-Carlton Paradise…»

Orlando, Phoenix Hospitality Markets Lead US Group Occupancy Rates

The group segment of the hospitality industry, defined as blocks of 10 or more rooms booked per night, had a strong first quarter, continuing the segment’s recovery that gained momentum in the spring of 2022. According to STR, CoStar’s hospitality analytics company, revenue per…»

My View: Why Arizona Politicians Need to Step Up to Fix Housing Affordability

I recently visited the offices of the Arizona State Land Department on West Adams in Phoenix, just two blocks east of the Arizona Capitol. This neighborhood has become the settlement area of a major portion of Arizona’s homeless population. Lining most of the…»

Multifamily Renters Upgrade to New SFR Offerings

The single-family-rental and build-to-rent industries are booming so much that Westdale Asset Management is currently in lease-up at 11 communities. Likewise, Blanton Turner, last year bought 2,000 homes per month and continues to bring them online. Cross-over investments between…»

How Downtown Phoenix is Evolving into a Housing Hot Spot

The downtown area has seen an influx of housing developments with a current focus on multifamily units. They are being built in conjunction with the continued revitalization of Downtown Phoenix as well as to combat the current housing crisis. Over the last four decades, the City of Phoenix has…»