Commercial Real Estate & Business News – December 26, 2016

For the third consecutive quarter, multifamily investing fundamentals grew stronger in the third quarter, according to the Freddie Mac Multifamily Apartment Investment Market Index (AMLI), both nationally and in each of the 13 metro markets it tracks...»

In 2015, the multifamily market saw one of its best acquisition years ever, with $152 billion in deal volume. 2016 was on a similar pace through the end of November, according to New York-based commercial real estate research firm Real Capital Analytics (RCA)...»

 

In what is the highest price per unit ever paid for a conventional multi-family project in the Valley, a pension fund advised by Invesco Real Estate paid $75.25 million ($335,938 per unit) to acquire the 224-unit CityScape Residences located at 11 S. Central Avenue in Downtown Phoenix. The seller was RED CityScape Development LLC, a company formed by RED Development LLC in Phoenix......»

It's been more than 20 years in the paving. The first segment of an actual highway surface has been laid for the Loop 202 South Mountain Freeway on the Pecos segment. The first pavement adds shoulder width to a half-mile segment of the new Loop 202 on Pecos Road west of Interstate 10 where the Arizona Department of Transportation is extending the high occupancy vehicle lanes between I-10 and 48th Street...»

Sentiment may have improved to multiyear highs in the past few weeks, but 2017 will bring only modest growth, according to the Fannie Mae economic and strategic research group's December 2016 Economic and Housing Outlook...»

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