Daily News for Commercial Real Estate & Business – September 22, 2010

To view the September/October 2010 Apartment Finance Today, click here.

COLLIERS INTL. BROKERS 1,347-UNIT MULTIFAMILY PORTFOLIO SALE IN SO. ARIZONA Colliers International–Greater Phoenix has negotiated the sale of a five-property, 1,347-unit multifamily portfolio in Tucson to Gaines Investment Trust. Terms of the deal were not disclosed. Boasting an average occupancy of 90 percent, the Class B portfolio consists of Summit Ridge (360 units), La Hacienda (275 units), Pavilions at Pantano (314 units), Sienna Ridge (305 units) and Verrano Park (93 units). View article...

Glendale sues feds over $500M casino The city of Glendale is suing the Obama administration over a planned $500 million American Indian casino west of Phoenix. View article...

Thomas Road Walmart gets facelift The Phoenix Walmart at 37th Street and Thomas Road is scheduled to re-open Friday after a three-month remodeling. View article...

Younan Nabs CMBS Refi for Downtown Tower With a loan maturity looming, Younan Properties has refinanced 4041 Younan Plaza, a 20-story, 405,693-square-foot office building located in downtown. View article...

Phoenix landmark Tom's Tavern could possibly close The sagging economy and construction in downtown Phoenix have been big challenges to Michael Ratner's restaurant. View article...

Scottsdale businesses network on SkySong campus A larger-than-anticipated number of merchants jumped at the chance to drum up business at a neighborhood networking event held at SkySong, the ASU Scottsdale Innovation Center. View article...

Mortgages Spur Arizona Anxiety Toronto-based developer Signature Properties International is catching some heat in Arizona from more than just the desert weather. Signature's 575-room J.W. Marriott Star Pass resort near Tucson is delinquent on its $165 million in mortgages, the largest of which matured in August, according to debt-rating company Realpoint LLC. View article...

Real-Estate Prices Fell Further in July Commercial real-estate prices dropped in July, with the Moody's/REAL All Property Type Aggregate Index decreasing 3.1%. It was the second consecutive month in which the index showed a decline of more than 3%. View article...

CMBS Revival Marks Step Toward Recovery J.P. Morgan Chase & Co. has taken an early lead in the race among big banks to revive the business of originating and bundling commercial mortgages into bonds. View article...

Multifamily Sales Defy the Slump Home buyers might be sitting on the sidelines, but multifamily-building sales are on the rise, reversing the slowdown that followed the financial market's collapse two years ago. View article...

Arizona recession is finally over, economists say The longest recession since the Great Depression is officially over - across the United States and, by many economists' accounts, in Arizona. 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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