CAPRE’s Commercial Real Estate Headlines for August 29, 2019

Check out the latest deals and developments in commercial real estate for Aug 29, 2019: Phoenix Replaces Las Vegas as Top City for Gains in Home Prices: S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for June2019shows that the rate of home price increases across the U.S. continues to slow. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.1%annual gain in June, down from 3.3% in the previous month. The 10-City Composite annual increase came in at 1.8%,down from 2.2% in the previous month. The 20-City Composite posted a 2.1% year-over-year gain, down from 2.4% in the previous month. Phoenix, Las Vegas and Tampa reported the highest year-over-year gains among the 20 cities. In June, Phoenix led the way with a 5.8% year-over-year price increase, followed by Las Vegas with a5.5%increase,and Tampa with a4.7% increase.Six of the 20 cities reported greater price increases in the year ending June 2019 versus the year ending May 2019. CBRE Funds $39.7M Acquisition Loan for Apartment Community in Southwest Charlotte: CBRE has provided a $39.7 million Freddie Mac acquisition loan for Arbor Steele Creek, a 384-unit apartment community in southwest Charlotte. The borrower, a joint venture between Charleston, S.C.-based Blaze Partners and Acre Valley Real Estate Capital, plans to continue interior and exterior renovations. The previous owner,…