Commercial Real Estate & Business News – October 23, 2015

At this point in the market, the private buyers are winning apartments. Last month’s Real Capital Analytics analysis of 2015 apartment sales data showed that private investors account for 69% of deal volume in the garden segment. International investors pulled about 9% of these transactions, while institutional investors captured about 10% of all market share. In the mid- and high-rise segment, which tends to attract more professionally managed capital, private investors secured 49% of all transactions. Institutional investors have captured 22% of that deal flow so far in 2015, while cross-border investors garnered 10%... Read more »
The U.S. office market logged 29 million square feet of net absorption in the third quarter, the second-highest quarterly total since 2006, with demand for office space from expanding companies roughly doubling the amount of new office supply added by developers... Read more »
Four acres of land planned for the mixed-use Southbank project located near Tempe Town Lake sold Tuesday. The Wolff Company sold the land to JLB Partners for $4 million, pursuant to the purchase agreement recorded in February of this year. No debt was recorded with the sale... Read more »
Metrocenter Mall may be the future face of enclosed mall renaissance and urban infill. Carlyle Group, owners of the massive central Phoenix mall and local developer Jeff Geyser have eyes on massive changes for the mall itself and a satellite center Geyser just acquired at Dunlap and 29th avenues at the south entrance to the mall...Read more »
The Hotel Indigo in Old Town Scottsdale sold Monday to Triyar Companies for $17.6 million or $140,000 per room. Resource Capital Corporation funded the sale with a $14.3 million note. The property was sold in a bank sale from AEW Capital, who had acquired the property via deed-in-lieu in 2011... Read more »

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