Performing Multifamily Loans Hit the Market
A great deal of activity is surfacing in the multifamily sector in the form of nonperforming loan sales this week. Freddie Mac on Monday completed its first multifamily bulk loan sale. The GSE announced that an affiliate of Colony Capital acquired 27 performing multifamily mortgages with a total unpaid principal balance of $195 million from Freddie…. Read more
Phoenix Industrial Market Starting To Lose Steam After Big Growth
After three years of record-breaking absorption, the metro Phoenix industrial market has been experiencing a cool down in the past six months. During the third quarter, Valley industrial space posted 942,161 square feet of positive absorption… Read more
AR Capital Funds Spend $60+ Million For Valley Properties
In five cash deals totaling a combined $60.484 million, companies formed by AR Capital LLC in Jenkintown, Pa. (Nicholas Schorsch, chairman) acquired three medical properties and two buildings leased to CVS Pharmacy in the Valley. AR Capital, formerly known as American Realty Capital, sponsors nine public, non-traded real estate investment trust (REITs)… Read more
The Recession Delivers A New Industrial Market
The Great Recession jolted real estate markets, which are still feeling the aftershocks. While the industrial real estate market is seeing strong signs of recovery, to understand today’s investing environment, we must look at the changes since 2008. The U.S. capital markets peaked in 2007, only to see the failures of major U.S. financial institutions over the next year… Read more
Mass Mutual Hiring 400 For New Phoenix Center
Massachusetts Mutual Life Insurance Co. is opening a new back-office and call center in north Phoenix. The Springfield, Mass.-based company is hiring 400 people for the new center at Interstate 17 and Peoria Ave… Read more