U.S. bankers haven’t taken their foot off the gas yet but they are watching their CRE loan portfolios carefully following a recent warning from the FDIC and say they are prepared to hit the brakes and slow down their commercial real estate lending vehicles should conditions warrant. Through the third quarter of 2015, U.S. banks had steadily increased their total CRE loans outstanding to $1.8 trillion — exceeding the previous lending peak at the end of the second quarter of 2007 by some $170 billion… Read more »
Consulting firm Ernst & Young recently published its Global Market Outlook 2016 report, which highlights key trends in private equity real estate. NREI talked with Mark Grinis, global real estate fund services leader at Ernst & Young to get more insight into the top 10 issues to watch in the coming year… Read more »
One of the Valley’s top resorts is considered to be one of the 10 best hotels in the country, according to U.S. News & World Report. The Canyon Suites at the Phoenician in Scottsdale was named the eighth-best hotel in the country, according to the publication’s 10 Best Hotels in the U.S.A… Read more »
ULI’s Trends Day, The Next 10 Years, featured discussions on the region’s newest economic development initiative, Velocity, millennials and light rail. Panelists explored the economy, creative turbulence, education, water and healthcare development while quick hit perspectives shared the latest on creative office, state land and retail. Approximately 1,000 real estate professionals were in attendance at the all-day event… Read more »
The Phoenix retail big box market continues to hold back real improvement in shopping center vacancy. In the year-end 2015 National CoStar Retail Report, Phoenix ranked as having one of the worst retail vacancy rates in the U.S. Out of the 125 MSA’s the report tracks, Phoenix finished near the bottom ranking 123. With nearly 34 percent of the total vacant space in Phoenix being in the big box sector, this segment of the market is critical to the overall health and stability of Phoenix retail… Read more »
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