Commercial Real Estate & Business News – November 8, 2016

Commercial and multifamily mortgage loan originations for the first nine months of 2016 increased 2% compared to the same period last year, according to the Mortgage Bankers Association’s (MBA). Third quarter 2016 commercial and multifamily mortgage loan originations were 5% higher …»
Phoenix rates as an active secondary market for financial-services activities, helped by rising employment in the field and moderate costs, according to a new study. The report by CBRE Group identified five established money-center hubs with high concentrations of banking, insurance, lending and other financial employment – New York, Los Angeles, Chicago, Philadelphia and Boston.…»

Trends point to the best holiday retail sales since 2006, if Arizona consumer spending continues on the pattern it set this summer. “I don’t see anything on the horizon that would temper that projection,” said Jim Rounds, president and founder of Rounds Consulting Group Inc. If the trends hold, taxable retail sales are up 5.3 percent…»

The lodging sector is coming off years of success, in which both occupancy and revenue per available room (RevPAR) have grown across the board. But recent economic trends are beginning to challenge the industry’s ability to maintain previous rates of terrific growth. …»
Phoenix-based Alliance Residential Co. has sold a 225-unit apartment complex on 16th Street in Phoenix for $60 million. Alliance sold its Class A Broadstone Sixteen 75 complex to San Diego-based ConAm Asset Management Corp. The sale translates to just under $267,000 per unit.…»