Commercial Real Estate Finance

Posts Tagged ‘Phoenix’

From an article published by BusinessInsider.com, and based upon data from the Case-Shiller Index, here’s a ranking of the Top 10 Housing Markets for the Next 5 Years:

(Note: this ranking is based on projected annual price changes between Q2 2012 and Q2 2017.)

10. Tucson, AZ (estimated 5-year growth: 7.9%)

9. Gulfport-Biloxi, MS (8.0%)

8. Napa, CA (8.0%)

7. Ocala, FL (8.0%)

6. Santa Barbara-Santa Maria-Goleta, CA (8.4%)

5. Sebastian-Vero Beach, FL (8.7%)

4. Madera-Chowchilla, CA (8.8%) Read the rest of this entry »

Writing on RealtyPin.com, Daniel Torelli names his Top 5 Housing Markets From 2012.

The East Coast is conspicuously absent…

5. Austin, Texas

Mr. Torelli says: “rent prices are off the charts in Austin – meaning that more people are looking at buying as a more cost-effective alternative. Right now, Austin homes are spending half as long on the market as they were in 2011.”

4. Phoenix, Arizona

“Phoenix has surprised real estate experts all year long – first with its median sale price increases, and now with the surge of investors that have descended on the city. All-cash transactions have actually become common here.”

2. Seattle, Washington

“In every month, Seattle’s median selling price was higher than the corresponding month in 2011. In November, the median selling price was $420,000 – a major improvement over $379,000 in November 2011! Thanks to eager buyers, the average Seattle home is spending a mere 30 days on the market.”

Read the rest of this entry »

If you operate or invest in commercial real estate in New York City, Washington, D.C., San Francisco, or one of the other gateway markets, today’s discussion may not be for you. Go read something else, perhaps my recent post on real estate in Dubai. Or enjoy this video of kittens.

If your CRE investment is  primarily in those less-privileged metros known as “secondary markets,” this discussion my be of some use. At the very least, it might offer a glimmer of hope.

To some, second place doesn’t sound too bad, but if we compare the average rents of gold winners like New York or D.C. with silver medalists like Philadelphia, we see a drastic disparity. According to research from Grubb & Ellis, recent asking rents for class A office properties in Washington D.C.  have been as high as $64/SF,  while similar properties in Manhattan are reaching the 70s and 80s (and exceeding $100/SF for trophy buildings). Class A office properties in Philadelphia, meanwhile, are limping along in the 20s and 30s.  Read the rest of this entry »

Few American towns compare to Rolling Hills, California; Brookville, New York; or Gladwyne, Pennsylvania. While these towns boast small, high-net-worth populations and high property values, most towns face a depressed housing market and high unemployment. For struggling cities, the best hope of recovery is to attract wealthy businesses and individuals.

Miami, for instance, has become a new and rather unexpected target for foreign capital:

Maybe because of its warm climate, its vibrant Latin culture, or simply its tourism, Miami has attracted a great deal of capital from Brazilians, whose own economy and commercial real estate have seen spectacular growth. This is great news for Miami, whose residential and commercial real estate markets were badly hit by the spate of foreclosures and economic contraction that began in ’08. However, most U.S. towns lack the fundamentals that have brought Brazilian investment to Miami’s real estate. Read the rest of this entry »

Commercial Real Estate Week in Review for the week of March 19th to March 25th

- AEW Europe and Tristan Capital Partners Acquire Three Shopping Centers for $236.5 Million.

- Equity Capital Management Remains Private, Ruling out REIT IPO.

- Government Cutbacks Include Office Space.

- PwC Reports Slow Confidence Growth in CRE Market.

- Publicly Traded REITS Make Up 47% of Hospitality Acquisitions. Read the rest of this entry »