Commercial Real Estate & Business News – September 16, 2024

New York-based Clarion Partners just sold a 497-unit Valley apartment community for $187.5 million, according to Tempe-based Vizzda LLC — nearly three times its $64.25 million purchase price in July 2004. The deal represents the largest single asset multifamily sale in Arizona so…»

Scottsdale-based HonorHealth, already one of the state’s largest private employers, further expanded its workforce this week by taking over most of Steward Health Care’s Arizona facilities. Adding three of Steward’s Arizona hospitals, plus a…»

Falling yields on investment-grade bonds are bolstering the case for real estate as an attractive investment, despite current market challenges. A recent report from Colliers found that cap rate spreads to BBB-rated bonds have fallen by nearly one percentage point below their historical averages…»

KBC Advisors’ 153,145-square-foot industrial project in Peoria, Arizona has been finished. The site, dubbed Empire 101, features one building with 21 dock doors, two drive-in bays, 32-inch clear heights, 10 levelers, and 90 clerestory windows. Outside of the one building site is…»

The U.S. hotel industry is seeing a splintering within its transaction environment this year. On one side, there’s tremendous investor interest in smaller hotel deals, typically sub-$25 million deals that involve select-service hotels or, in some cases, compact full-service hotels…»