Joint Venture Investing in Metro Phoenix Single-Family Rentals

By Angela Gonzales | Phoenix Business Journal Two out-of-state real estate firms formed a $1 billion joint venture to acquire and renovate single-family rental homes across the western United States, with big plans for Arizona. Denver-based Atlas Real Estate and San Francisco-based DivcoWest are targeting high-growth states, including Arizona, Colorado, Idaho, Nevada and Utah. Vincent …

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Scottsdale Homebuilder Takes On Single-Family Rental Market

By Angela Gonzales | Phoenix Business Journal Known for its award-winning custom homes, Camelot Homes is taking a giant leap into the single-family rental home market. The Scottsdale-based family owned business is working in partnership with Scottsdale-based Arcadia Communities to build single-family rental homes scattered throughout the Valley, with more than 300 lots in escrow. …

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Builders Gobbling Up Land to Develop in North Scottsdale

By Angela Gonzales | Phoenix Business Journal Mark Weber is making big land buys in metro Phoenix at a time when it’s getting tougher to find new acreage. The Arizona division president for Houston-based David Weekley Homes said he is spending $117 million on land and development for 12 new projects totaling more than 1,000 …

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Luxury Homes Selling Quickly at The Phoenician

By Angela Gonzales | Phoenix Business Journal Homes at a new residential community on what formerly was a golf course at The Phoenician are selling like hot cakes. Scottsdale-based Cullum Homes and Canada-based Replay Destinations are seeing success at the new Ascent at The Phoenician community, where they are building luxury condominiums and custom homes. …

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Phoenix Named a Top Global Luxury Home Market

By Angela Gonzales | Phoenix Business Journal Phoenix was named a top luxury real estate market to watch in a new report by Coldwell Banker Global Luxury. Phoenix was identified along with Denver and Dallas as secondary markets on the rise in the new report, called The Report: 2021 Global Luxury Market Insights. Chris Karas …

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More Valley Home Buyers Looking for Multigenerational Living Space

By Angela Gonzales | Phoenix Business Journal A tight housing supply during the coronavirus pandemic is causing home shoppers to look for more affordable ways to get parents, grandparents and grandchildren all together under one roof. Building a casita in the backyard of an existing home is one way to go, but each city has …

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Industry Experts Offer Predictions on Valley Residential Market

By Angela Gonzales | Phoenix Business Journal The skyrocketing growth in the Valley’s residential real estate market is expected to continue through 2021, as homebuilders furiously buy land to build more homes to keep up with insatiable demand. The Phoenix Business Journal recently invited some of the Valley’s top real estate experts for a recent …

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Scottsdale Builder’s Home Prices Jump One Month After Opening

By Angela Gonzales | Phoenix Business Journal Homes are selling so quickly at the Lakes at Rancho El Dorado that prices are now in the high $200,000s, up from the mid $200,000s when Scottsdale-based Meritage Homes Corp. announced the opening a month ago. “Price increasing is due to demand, but more so rapidly increasing building …

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Phoenix Tops US Cities with Highest Number of Eviction Filings

By Angela Gonzales | Phoenix Business Journal Phoenix topped the list of cities across the nation with the most eviction filings during the coronavirus pandemic, according to a new study by the United Way. The report, conducted by the Eviction Lab at Princeton University, shows Phoenix had 16,685 eviction filings in the past year during …

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Out-of-State Investors Bullish On Metro Phoenix Apartments

By Angela Gonzales | Phoenix Business Journal Out-of-state investors are swooping into town to pay big bucks for apartments as the landscape gets even more competitive. Salt Lake City-based Millburn & Co. paid $178.5 million for the 832-unit Heritage at Deer Valley, making it the highest sale price for a single multifamily community in Phoenix …

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