Commercial Real Estate & Business News – December 19, 2016

The bigger news was the Fed's announcement that it plans to raise rates three times in 2017. Borrowers who have not locked in long-term fixed financing will now need to keep a close eye on the rates, Woodwell, notes. The increase in the cost of capital may also "motivate investors" to put their money to work sooner rather than later, notes Steve Hovland director of research with Irvine, California-based real estate investment firm HomeUnion...»

Home builders saw a significant boost in confidence after President-elect Donald Trump won the election, according to the National Association of Home Builders/Wells Fargo Housing Market Index. This increase brought builder sentiment up seven points to a level of 70, the index's highest point since July 2005...»

 

To get rich the way real estate billionaires do: (1) Buy assets. (2) Finance with fixed-rate debt. (3) Wait for inflation...»

Golub & Co. LLC has filed an amended Planned Area Development Overlay to develop a 393-unit apartment complex with 4,425 sq. ft. of retail space in a 24-story tower located along the east side of Rural Road and just south of University Drive near Arizona State University in Tempe. The 2.07-acre project, being called Skyview, is bounded on the north by 8th Street and on the south by Terrace Road (Valley Metro light rail tracks). Ten years ago in December 2006, BREW reported Golub & Co. paying $5 million to purchase more than half of the site...»

The owner and operator of Scottsdale Fashion Square on Monday announced plans to renovate the mall's luxury wing anchored by Neiman Marcus and add residences, office space and a new hotel to the facility near downtown Scottsdale...»

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