Commercial Real Estate & Business News – October 30, 2014

Competition for CRE Lending Creating a Dilemma for Banks

Lenders still prefer stabilized properties, but nonresidential construction lending also targeted. The nation?s banks continue to grow their commercial real estate loan portfolios, increasingly betting on the growing demand for new commercial property construction and continued strength in multifamily. However, as many banks acknowledge in their quarterly earnings discussions this month, the lending landscape is getting pretty crowded with competitors. That is prompting some banks to back away from opportunities and others to stretch their lending covenants… Read more »

As CRE Values Rise, Global Investors? Returns Get Squeezed

Sometimes good news for commercial real estate is bad news for global investors. High real estate values and low interest rates for all types of real estate financing?especially in the core real estate markets the global real estate investors favor?continues to push returns on investment lower… Read more »

Rents on the Rise for Metro Phoenix Houses, Apartments

Renters are paying more for apartments and houses in metro Phoenix than they did a year ago. The average rent on an apartment climbed 4.9 percent during the past year to reach $815 a month at the end of September, according to research firm RealFacts… Read more »

TDI Partnership Planning 256-Unit Apartment Project at Tempe Town Lake

A partnership formed by TDI Real Estate Holdings LLC plans to develop a 256-unit apartment community located east of Scottsdale Road and north of Tempe Town Lake in Tempe. The luxury multi-family complex, which is being called Jefferson Town Lake, is targeted for a 1.62-acre site that is bordered on the north by Playa del Norte Drive… Read more »

Americans More Confident About the Nation?s Housing Market, New Research Shows

Overall Americans are more confident about the housing market than at the start of the year, according to the latest Zillow Housing Confidence Index. The index increased to 64.2 over the summer, up from 63.7 in January, and housing confidence increased among residents in 11 of the 20 major metro areas surveyed… Read more »