The Dealmaker: 12/02/2016

Phoenix apartments sales hit record $4.5 billion. “And there is still a month to go in 2016,” writes Mike Sunnucks, whose report in Phoenix Business Journalbreaks down recent sales “data from ABI Multifamily.” His report also features ABI Multifamily Research Director Thomas Brophy on whether or not the data marks a turning point for “real estate investors and landlords [who have been] bullish on multifamily.” http://bit.ly/2h2Y1ff

Seaport shipping container designers building second project on Portland Street. “StarkJames LLC is building The Oscar at [Portland and Second]…. It will include nine one-bedroom apartments, two live-work units and a commercial unit. The latter ones are geared toward artist and creative tenants.” (One retail tenant they should definitely try to get? The Container Store. How perfect would that be!) Further details and shots of how construction is coming along, in Phoenix Business Journal. http://bit.ly/2gVtg80

Paradise Valley Town Council reviewing Ritz-Carlton final plat. “The final plat is for a 66-lot development over 23.83-acre plot of land close to the intersection of Indian Bend Road and Mockingbird Lane in Paradise Valley.” Paradise Valley Independent notes that “town staff recommends the town council approve the final plat of land but with some stipulations.” See what those stipulations are, here —> http://bit.ly/2gIPqes

SIMONSON SAYS – Arizona seeing a steady increase in construction jobs. “‘Arizona has always kind of been a boom and bust state,’ said Ken Simonson, chief economist at The Associated General Contractors of America. ‘This is getting to be more and more of a boom.’” For Bureau of Labor Statistics seasonally/non-seasonly adjusted construction figures, plus what Simonson says is behind this “current construction boom,” click to KTAR. http://bit.ly/2h2Yga8

How privatizing Fannie Mae and Freddie Mac could affect home buyers.“Steven Mnuchin, [the pick] to be the new Secretary of… Treasury [and a man who seems to be lacking a vowel in his last name] told Fox Business that [Fannie Mae] and [Freddie Mac]… will be restructured and privatized.” Despite this articles’ disclaimer that there are scant “[d]etails on what a restructuring could entail,” Realtor.com’s Clare Trapasso still looks ahead to some possible impacts “when these two organizations are freed from government control.” http://bit.ly/2gIW97U

Heads up homeowners: Mortgage interest deduction on Trump’s chopping block. ‘We’ll cap the mortgage interest, but we’ll allow some deductibility,’ said Steve Mnuchin.” CNBC’s Diana Olick looks at how the deduction “benefits far fewer taxpayers than one might think,” and also why “real estate industry leaders oppose any changes… [d]espite the small number of borrowers a cap would affect.“ http://bit.ly/2fPgw6R

Cameron’s $5M + deals of the day – http://bit.ly/2h2TKbH