Daily News for Commercial Real Estate & Business – December 9, 2010

To view this weeks "The Watchlist" by Costar, click here.

Phoenix apartment complex will house low-income residents Arizona Housing Inc. has purchased the 80-unit Royal Suites apartment complex to house low-income residents. The organization used money borrowed from Phoenix to buy the property at 10421 N. 33rd Ave., which should be renovated and remodeled by this time next year, according to Arizona Housing CEO Mark Holleran. Staff was on site the day before Thanksgiving cleaning the main office of the newly acquired property. View article...

Giggle's in Scottsdale Giggle, a New York retailer that describes itself as a store for new parents, is opening its 14th store and first Arizona location at Scottsdale Quarter. View article...

South Mountain Freeway vote soon, Gila River tribe says A decision about whether to allow the alignment of the planned South Mountain Freeway to be moved south of Ahwatukee Foothills to the Gila River Indian Reservation could be made by tribal officials in January. View article...

TransUnion: Delinquency rates will fall in 2011 TransUnion is projecting double-digit declines in mortgage delinquencies for every state through next year, and some of the steepest declines could be in Arizona. View article...

Record Property Price Gain Could Be Temporary U.S. commercial real estate prices climbed 4.3% in September from the previous month, according to the Moody's/REAL Commercial Property Price Indices (CPPI). That's the largest one-month gain in the index's nine-year history, and is encouraging for a market that has wrestled with deflated property values for nearly three years now. View article...

'Special Servicers' Getting Creative The real-estate firms managing the swelling volume of distressed commercial mortgages that were sliced and diced on Wall Street are blazing new trails as they pick up the pace of working through bad loans. View article...

Lennar's Rialto Capital Raises $300M for Distressed Investments Lennar Corporation recently announced that its Rialto Capital subsidiary has completed the first closing of a real estate investment fund that will target REOs and other non-performing properties and mortgage assets. View article...

If you want a copy of the latest foreclosure spreadsheet, email me and I will send it to you.

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.

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