JLL’s Capital Markets experts have arranged the sale and financing of a portfolio of six metro Phoenix apartment communities on behalf of a fund managed by DRA Advisors LLC of New York City and their joint-venture partner, Dallas-based Milestone Group. The buyer was a leading global institutional investor. DRA first bought the 1,751-unit portfolio in 2012.
The latest edition of JLL’s Investment Intensity Index has Phoenix making the cut. The “Valley of the Sun” took the 27th spot on the top 30 list for global real estate investment intensity.
High-tech and innovation helped Phoenix rise on the prestigious list, which included several small to midsized “New World Cities” with similar population levels (1… Read More
JLL’s Q4 Office Investment Outlook identifies Phoenix as the sixth secondary market with the highest investment volume at $1.9 billion. Various sources predict strong growth within the local market for years to come:
- Moody’s predicts 4.2% annual GMP growth in Phoenix for … Read More
In an effort to strengthen its already broad suite of finance and investment capabilities, JLL today announced the addition of two market experts in the firm’s Capital Markets group. Industry veteran Robert Kline has joined JLL’s Capital Markets, Finance unit as a Managing Director in the Phoenix office. Dan Postal has… Read More
The national multifamily market maintains its momentum after another quarter of declining vacancy, steady absorption gains, and rising rents. All of these positive indicators continue to fuel investment activity as 2016 is on pace to exceed last year’s peak volume. Many of the national themes driving the multifamily market… Read More
The office buildings that make up the Phoenix Skyline have entered new territory in 2016, with rents and tenant demand achieving impressive gains over the last 12-24 months. And while JLL’s 2016 Skyline shows that rent growth across much of the nation may be peaking and moderating, Phoenix’s Skyline and trophy assets (those ultra-premium… Read More
JLL’s Q4 Office Investment report identifies and analyzes trends within the Phoenix office market. Highlights include:
With strengthening lease fundamentals, secondary markets are driving investment sales growth, increasing by 76.0 percent compared to 46.0 percent in primary markets this year.
Sixteen secondary markets doubled activity in 2015 with 11 recording transaction volumes over $1.0 billion. This represents a near tripling from the four secondary markets… Read More
As the market enters its sixth year of expansion and volatility heightens in the public equity markets, the chase for yield is intensifying, expanding the supply of inbound capital. The U.S. market is now driving 51.8 percent of global transaction volumes year-to-date. Despite increased caution and continued institutional discipline in markets, leasing dynamics remain… Read More
Investor appetite for urban product remains undiminished, boosting pricing year-over-year. The following are highlights from the retail section of JLL’s Q2 U.S. Investment Outlook.
While urban retail continues to lead overall per-square-foot pricing, unanchored retail sees strong growth
- In the second quarter, per-square-foot pricing for urban retail grew 17.5 percent year-over-year.
- Unanchored retail space saw its highest per-square-foot … Read More
With yields above prior peak levels, structural shifts and pervasive market performance supporting continued historic multifamily investment levels. The following are highlights from the Multifamily section of JLL’s Q2 U.S. Investment Outlook.
As home prices continue accelerated rise, new single family construction lags
- Multifamily starts are the highest level since the late 1980s, having surged … Read More