E-Zine for the Week Ending June 20, 2018
|
|
SAVE THE DATE - FRIDAY, SEPTEMBER 14 (8 a.m. to 11 a.m.)
"South Scottsdale: Where the World Comes to Play and Innovative Companies Excel"
Speakers will define the current and planned activities that will impact both residential and commercial property values and commercial businesses in South Scottsdale
- Danielle Casey, Dir. Of Econ. Dev. City of Scottsdale
- Aaron Studebaker, SRPMIC (Talking Stick)
- TBD, SkySong, ASU and the Globalization with GPEC
The Event will be a partnership between Kasten Long Commercial Group and American Title Service Agency and will provide financial and promotional support for a veteran's group
www.HomeTownHeros.com
More information and registration will soon be available at
www.KLCG-Events.com
|
|
Tulsa, Oklahoma-based BOK Financial Corp. is paying nearly $1 billion to buy Denver-based
CoBiz Financial
Inc. The $977 million acquisition will provide additional liquidity to continue to fund robust growth in Arizona and Colorado, according to BOK's
presentation to investors
on June 18. Currently, 5 percent of BOK's loans are in Arizona, but with the combined entity, that book of business would increase to 9 percent in the state, according to its presentation. Both banks specialize in health-care lending. Ernie Garfield, owner of Interstate Bank Developers Inc. who helped start 18 community banks in Arizona, said both BOK Financial and CoBiz Financial are stellar banks. "Their service to Arizona health care and other small businesses is outstanding, and their stockholders should be happy with their substantial reward," Garfield said.
|
|
Sterling Real Estate Partners acquired Cambridge Court Apartments in Phoenix, the agency said Tuesday. The acquisition closed Friday. The joint venture between Los Angeles-based Barker Pacific Group and Phoenix-based Pacific Real Estate Partners bought the 286-unit complex for $24 million, Cliff Fleck, BPG spokesman, told the Phoenix Business Journal. “We’re excited to continue to grow our Phoenix portfolio,” said David Zeff, principal at Sterling Real Estate Partners and PREP president. “Cambridge Court is a great location, and there is a great opportunity to maximize its value by repositioning and improving the property.”
|
|
A decrease in low-end rental growth rates for single-family homes could foreshadow stabilization in rent prices, according to March data released by CoreLogic Inc.
Low-end rentals saw 3.9 percent growth in March, down from 4.4 percent in March 2017, which could be an early signal of stabilization, the data provider said.
CoreLogic defines low-end rentals as properties with rents less than 75 percent of the regional median. However, Phoenix had the second highest year-over-year increase in single-family rents at 5.4 percent due to both high rent and employment growth, CoreLogic reported. Phoenix saw employment growth of 3.2 percent year-over-year, compared with national employment growth of 1.6 percent, according to the U.S. Bureau of Labor Statistics.
|
|
16,731 Units Under Construction
In addition to the 16,731 units currently under construction, there are 11,100 planned and 12,727 units noted as Prospective. That's a total of 40,560 units.
Email Jim for detailed list of new construction or use the map link above
|
|
Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
CLICK HERE for a detailed list of Apartments Available or use the map link above.
|
|
Kasten Long Commercial Group
Jim Kasten, CCIM - Designated Broker
602 445 4113 Office 602 677 0655 Cell
|
|
|
|
|
|
|
