Daily News 10-9-2026

Kinella Capital, a Mesa-based boutique real estate investment and construction firm that specializes in converting complex projects to a different use to meet contemporary demand, has completed construction on One Camelback, an 11-story, 163-unit luxury apartment complex at 1 E. Camelback Road in uptown Phoenix.

The certificate of occupancy has been signed, first residents have begun moving in, and roughly 20% of the building has already been leased, according to a report…»

Cohen & Steers Income Opportunities REIT and Sterling Organization acquired Grand Canyon Crossing, a 307,419-square-foot shopping center in Phoenix, from Goldman Sachs Asset Management for $59.75 million, or $194.36 per square foot.

The investment was structured as a programmatic joint venture between the two companies. Built in 2005 on 33 acres at 6145 N. 35th Ave., at the intersection of Bethany Home Road and 35th Avenue, the shopping center is 99% occupied. It…»

Apartment owners preparing their 2027 budgets face a harder question than when new-lease rents will recover. They also need to determine how much longer they can count on existing tenants to pay more. Renewal increases have helped offset falling new-lease rents, but Yardi Matrix’s latest data suggest that protection is weakening.

During Yardi Matrix’s recent multifamily outlook webcast, Paul Fiorilla, director of research, said the latest national renewal reading had reached its weakest level…»

Keech Properties acquired The Astor at Osborn, a 191-unit multifamily mid-rise in Phoenix, from High Street Residential for $47.8 million, or $250,262 per unit.

High Street Residential, a wholly owned operating subsidiary of Trammell Crow, specializes in multifamily development with a focus on urban, mixed-use residential projects and the redevelopment or repurposing of existing facilities. The five-story property at 3300 N. Seventh Ave. was completed in 2019 and is one of only two…»

Luxury retailers have been counting on wealthy Americans to offset weakness elsewhere. Now those shoppers are pulling back, raising a warning for investors in high-end stores and shopping centers whose performance depends on their spending. U.S. credit card spending on luxury goods fell 6% year-over-year in September, following 4% declines in both July and August, according to Citi data reported by Reuters. The deepening decline challenges a source of strength for…»