Commercial Real Estate & Business News – November 18, 2014

Underwriting Standards Moving Back to ’07

Since CMBS came back a few years ago, there has been a lot of conservative underwriting,? said Ken Carpenter, managing director of CCRE. ?Leverage-wise, it?s not back to ?07?we had more leverage back then?but underwriting standards are moving back to ?07.? He adds that today, 65% to 70% leverage is most common, while that figure was higher in 2007… Read more »

Retail Sales Rise Ahead of Holiday Shopping

U.S. retail sales edged up in October, according to a report released by the Commerce Department, evidence that recent job gains and lower gas prices are lifting consumer spending as the holiday shopping season begins. Retail sales rose 0.3% last month after falling by the same amount in September. Excluding gas stations, where falling prices lowered spending, sales rose a solid 0.5%… Read more »

Freddie Mac: 5 Game-Changing Predictions for 2015

The housing market is about to turn a corner into the new year, and according to Freddie Mac, the U.S. economy is well poised to sustain about a 3% growth rate for 2015… Read more »

Construction Set to Commence for Rivulon Development in Gilbert

Although a slice of the project is already under construction, representatives from the town of Gilbert, Nationwide Realty and others broke ground on what will become the town?s most sizable business plaza. The officials unearthed dirt for the incoming Rivulon project during a ceremony in Gilbert on Nov. 12. The ceremonial shoveling came as the symbolic first step toward the completion of the 250-acre development located off of Gilbert Road by the Loop 202 Santan Freeway… Read more »

Fowler Property Strikes Again…Spends $24.225 Million for 334 Units in Tempe

Fowler Property Acquisitions LLC paid $24.225 million ($72,530 per unit) to purchase the 334-unit Suncadia apartment community located at 505 W. Baseline Road in Tempe. The seller was a Sun River Village L.P., a limited partnership formed by Holland Partners. Maricopa County records show tbe Fowler company acquired the property by assuming a Freddie Mac loan with an original principal balance of $14.924 million. The federal agency also provided $3 million in supplemental financing… Read more »