Hines Assembles Land For Mixed-use Project In Chandler…Flips Apartment Site
Hines Interests Limited Partnership in Houston, Tex. (Gerald Hines, principal) has completed the $20.42 million assemblage of a 25.5-acre parcel in Chandler that is planned for a mixed-use project called Chandler Viridian. As reported by BREW in April, the $150 million residential, office, retail and hotel complex is being developed next to the Chandler Fashion Center regional mall. Upon completing one of two property acquisitions that make up the assemblage, Hines resold the multi-family site… Read more »
Economists Predict Steady CRE Growth Ahead Despite Undercurrents of Global Turmoil
A consensus survey of economists and analysts convened by the Urban Land Institute and EY Real Estate predicts solid but not spectacutar returns for U.S. real estate investors as moderate economic growth supports a steady strengthening in commercial real estate capital markets and fundamentals over the next three years. The latest Urban Land Institute/EY Real Estate Consensus Forecast is slightly more optimistic… Read more »
Helix Grabs Commercial Property for $13M
Helix, an Arizona-based commercial real estate investment company, recently acquired a truck distribution industrial complex in Tolleson for $12.75 million. Located at 94th Avenue and Buckeye Road in Tolleson, the 40-acre commercial property consists of 179,000 square feet of buildings including a warehouse, office administration facility, maintenance garage, covered wall truss work area and a 60,000-square-foot covered structure on the rail spur… Read more »
CMBS Loan Delinquencies Continue Steady Decline Across Most Property Types
The level of commercial mortgage-backed securities borrowers who are behind in their payments continued to fall among all major commercial property types in September, with the exception of hotels. The decline in deliquent loans was due to a combination of rising loan volume resolved through sales and restructurings and a brisk flow of new securities issuance, according to Fitch Ratings. Delinquent loans fell eight basis points in September to 4.77% from the previous month as $571 million in loan resolutions… Read more »
Foreign Investors Chase Yield, Safety in U.S. Office Sector
Foreign buyers increased their investment in the U.S. commercial real estate markets in the first half of 2014, pouring in $85.4 billion in property purchases here compared to $76.7 billion in the first half of 2013. Almost half of foreign investment this year, about $37.8 billion, went into the office market, as buyers from countries including China, Russia and Canada fought over trophy properties in major markets… Read more »