Commercial Real Estate & Business News – September 18, 2015

EY: Interest Rates and Cap Rates Aren?t Always Correlated

As the Federal Reserve readies an expected decision this week on whether to begin raising interest rates, common assumptions among some commercial real estate investors, developers and lenders are that CRE values will take a hit when interest rates are raised… Read more »

Physicians Realty Trust Completes $141 Million Purchase of Medical Office Portfolio

Physicians Realty Trust has completed the $140.882 million ($346.23 per foot blended average) purchase of a portfolio of four medical office buildings in the Valley totaling 407,894 sq. ft. The sellers in four separate cash sales were companies formed by Integrated Medical Services in Phoenix, a physician led and managed organization… Read more »

Acacia Capital Adds to Valley Holdings…Pays $39.25 Million for 296 Apartments

A company formed by Acacia Capital Corp. paid $39.25 million to buy the 296-unit Ocotillo Bay apartments at 1889 W. Queen Creek Road in Chandler. The seller was Bay Arizona Apartments Limited Partnership, a company formed by Sentinel Real Estate Corp… Read more »

Phoenix Pocket Neighborhood Will Fill a Special Niche

Luna Azul will be built by Seattle-based ECC Management. Goodman writes: Founder and Principal Mark Roth developed the concept as an alternative to the living options now available for his disabled daughter. ?Few good options exist today for adults with disabilities, or for their families,? says Roth. ?Pocket neighborhoods are a great concept and already popular, especially among adults seeking greater energy efficiencies in their homes and more intimate community living and support systems”… Read more »

Haggen Backs Away From Massive Expansion After Bankruptcy

Dozens of stores that were recently converted to Haggen stores are likely to close or be sold off after the Bellingham, Washington-based grocery chain filed for Chapter 11 bankruptcy… Read more »