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Commercial Real Estate & Business News – June 23, 2016

June 23, 2016 by Nick Miner, CCIM   No comments   Filed Under: Daily News

Multifamily Rentals Continue to Drive Housing Market
The rental market continues to drive housing’s recovery-36% of U.S. households opted to rent in 2015, the largest share since the 1960s. Posting the largest 10-year gain on record, the number of renters increased by 9 million over the past decade, according to the annual State of the Nation’s Housing 2016 report released today…»
Wentworth Property/Northwood Venture Buys Scottsdale Offices In $122 Million Deal
Companies formed by Wentworth Property Co. LLC in Phoenix (James Wentworth, Sr., James Wentworth, Jr., principals) and Northwood Investors in New York City, N.Y. (John Kukral, pres.) paid $122 million ($191 per foot) to acquire 638,717 sq. ft. of buildings within the Perimeter Center business park in Scottsdale. The sellers of the portfolio were five…»
After Record Declines, Commercial/Multifamily Mortgage Delinquency Rates Remain Low

Delinquency rates for commercial and multifamily mortgage loans hit new lows in the first quarter of 2016 as liquidity conditions for real estate investors remain extremely favorable. “Strong fundamentals and strong property prices, as well as still low interest rates, continue to support the performance of commercial and multifamily mortgages…»

Bank CRE Loan Concentration Risks Prompting Increased Regulator Scrutiny
Federal banking regulators are closely monitoring real estate loan performance as banks have stepped up their commercial real estate and multifamily lending in the last several years. After another quarter this year of strong growth, many analysts also are beginning to believe risk related to CRE lending has also increased.…»
First Vistancia Rental Community Opens
Luxury rental home developer, BB Living opened its newest for-lease neighborhood in the award-winning Vistancia master plan. The neighborhood features 134 well-appointed townhomes in Acacia Grove in The Village at Vistancia and offers three- and four-bedroom with two-and-a-half baths starting in the $1,300s per month.…»

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Nick Miner, CCIM

ORION Investment Real Estate
7150 E. Camelback Road
Suite 425
Scottsdale, AZ 85251

480-226-8037
nick@nickminer.com

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