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Commercial Real Estate & Business News – August 31, 2021

Kroll Bond Rating Agency (KBRA) said the CMBS delinquency rate slipped 30 basis points to 4.6% from a month earlier. This is the 14th consecutive month where the rate has declined or was flat from the previous month since peaking in June 2020 at 8.2%, said KBRA. Lodging and retail…»
Between 2019 and 2020, nearly 29 million Americans moved to new residences within the U.S, nearly 40% of which moved to different counties or states. Rising costs of living in some cities are driving residents to more affordable locales. According to the U.S. Census Bureau, while the…»
LaPour Partners has sold its 199-room, 13-floor AC Hotel at Arizona Center in downtown Phoenix to Arbor Lodging Properties, a Chicago-based hotel investment and management firm.The hotel opened in February of this year as a joint venture with Dallas-based NewCrest Image and…»
PHOENIX — The Arizona unemployment rate continued to decrease last month as the state’s economy is not only recovering but growing coming out of the COVID-19 pandemic. The Arizona seasonally adjusted unemployment rate fell to 6.6% in July from 6.8% in June, and down from…»
The dramatic increase in work from home has opened the possibility for many renters to move away from cramped and overpriced apartments to spacious and, oftentimes, more affordable single-family rental homes in suburban and rural areas. This growth has not gone unnoticed by…»