Commercial Real Estate & Business News May 31, 2019

CMBS Delinquency Rate in April Posts Another Decline, Led by Retail-Backed Loans April, the most recent month for which data is available, showed a decline in the all-property 30+ days CMBS delinquency rate, according to both Trepp and Fitch Ratings. Trepp reported that the overall delinquency rate registered at 2.82 percent, six basis points down from March and 154 basis points down from a year-ago period. Fitch data showed that the delinquency rate fell by five basis points since…»
Aspirant Development Celebrates Grand Opening of The Stewart
Aspirant Development, a leading residential and commercial real estate developer based in Scottsdale, Ariz., celebrated the grand opening of The Stewart, a 19-story, 312-unit luxury apartment and mixed-use building in downtown Phoenix on Thursday, May 22. The event was attended by representatives from Aspirant along with a host of local dignitaries, including Phoenix Director of…»
Arizona’s 1st My Place Hotel breaks ground in Avondale
Following the brand’s recent 36-hour tour which included three groundbreakings in three new states, My Place Hotels of America announced Avondale will soon be home to Arizona’s first My Place Hotel. Avondale city officials, General Contractor Haydon Building Corp, and a host of community members and leaders gathered alongside hotel owners and My Place Hotels executives to celebrate the…»
Officials: ‘X Phoenix’ Co-housing High-Rise Breaks Barriers of Geography, Affordability
A residential high-rise under construction in the downtown core marks a milestone in downtown Phoenix residential development, city officials say. The 20-story, 253-unit apartment, retail and office development will be the first high-rise west of First Avenue since City Hall was constructed in the 1990s and the second development south of Fillmore Street since CityScape was built in 2014. Groundbreaking…»
2019’s Housing Market Is Likely to Be Stronger Than We Thought-Here’s Why
Despite a real estate slowdown gripping the nation, this year’s housing market is expected to be busier than® economists originally predicted late last year. That means more home sales-and higher prices-are on the way. The anticipated uptick in activity is due to lower mortgage rates, which make homes more affordable for buyers. The economic team expected rates to climb to…»