Commercial Real Estate & Business News – September 29, 2022
Mortgage Delinquency Rate Nears Historic Low The overall mortgage delinquency rate declined to 2.79% in August from 3.6% in July, according to a report by Black Knight. The delinquency rate is just 4 basis points above the historic low of 2.75% in May 2022. August saw 20,300 foreclosure starts..» Fannie Mae Projects Modest Recession in […]
Commercial Real Estate & Business News – September 28, 2022
KKR Completes Sale of Four-Property Multifamily Portfolio in Greater Phoenix Private equity giant KKR & Co. sold a multifamily property in Tempe near Phoenix to an investor based in Arizona for $68.5 million, or just under $252,000 per unit. The price paid by the private investor based in Paradise Valley to buy Ponderosa Ranch was […]
Commercial Real Estate & Business News – September 26, 2022
Investors Are Still Flocking To Single-Tenant Net Lease Investors flocked to the single-tenant net lease space en masse in the third quarter, with the sector registering record deal flow despite mounting economic headwinds.Sales activity for net-leased retail rose between 24% to 27% across…» Multifamily Rent Growth Went Over the Top And Now Is Sliding Down […]
Commercial Real Estate & Business News – September 23, 2022
JW Marriott Phoenix Desert Ridge Resort & Spa Unveils $80M Renovation JW Marriott Phoenix Desert Ridge Resort & Spa announced an $80 million transformation as it celebrates its 20th anniversary this year. Showcasing a fresh, modern design inspired by the surrounding destination, the expansive property, set across 316 acres of sweeping…» Virginia Real Estate Firm […]
Commercial Real Estate & Business News – September 22, 2022
Fed Hikes Rates Again, Raising Risk of Recession To Bring Inflation Under Control For the third time in as many meetings, the Federal Reserve’s policy-setting committee raised its target lending rate by three-quarters of a percentage point, the latest step in its aggressive campaign to battle decades-high inflation. The unanimous decision on…» Mixed-Use Development Across […]
Commercial Real Estate & Business News – September 21, 2022
Portico North Scottsdale is 60% Reserved Before Groundbreaking Belgravia Group, Chicago’s award-winning real estate developer with more than 70 years of luxury developments constructed under its brand, announced that its first-ever Phoenix metro community development, Portico, located in North Scottsdale, is more than…» Residence Inn Phoenix Desert View at Mayo Clinic sells for $50.5M […]