In the News—Week of June 8, 2026
Deal of the Week
Thomas Title & Escrow is proud to highlight the successful closing of a $3.425 million commercial refinance Flagstaff, Arizona. The transaction involved and coordination among the borrower, lender, title, escrow, and recording teams to ensure a seamless closing process.
Located in one of Northern Arizona’s most desirable multifamily markets, the property continues to serve as a valuable residential housing asset in the Flagstaff community.
This transaction was successfully managed by our Escrow team. Business development efforts were led by Justin Wine, with additional support from Scott Tatum. The team’s coordination and attention to detail ensured a smooth closing from commitment through funding and recording.
At Thomas Title & Escrow, we are proud to partner with our clients on complex commercial transactions throughout Arizona and beyond. Congratulations to everyone involved in another successful closing.
National
Rich residents in South Florida want marine fuel terminal off their island
A fight over a 10-acre site on ultra-wealthy Fisher Island has erupted as residents and local power players push to remove a marine fuel terminal they call an eyesore and environmental risk, the New York Post reports. Developers bought the property in 2025 with plans for luxury condo towers, but cruise and cargo interests warned that losing the fuel supply could disrupt PortMiami operations. Miami-Dade County then moved to purchase the terminal or take it through eminent domain, a step critics say came after the developer deal had already closed. The Fisher Island Community Association and a country club have sued to stop the county’s action and to block any sale that would upend prior agreements, while negotiations continue with hundreds of millions of dollars at stake.
National
Momentum for commercial real estate lending reaches highest level in five years
Commercial real estate lending in the U.S. strengthened again in the first quarter of 2026, CBRE reports. Figures from its Lending Momentum Index show the highest level in five years as larger loans and improved terms helped drive activity. The index climbed to 1.5, up from 1.2 in late 2025 and 0.3 a year earlier, while average loan sizes rose 14% from the prior year. CBRE said spreads eased modestly and underwriting measures held steady, with borrowing costs edging down and loan-to-value ratios ticking higher. Non-agency lending was increasingly dominated by alternative lenders such as debt funds and mortgage REITs, which accounted for more than half of CBRE’s volume, while banks and life companies made up smaller shares. Agency financing for multifamily also remained robust, with Fannie Mae and Freddie Mac originations rising sharply year over year.
National
Luxury apartment sales up slightly despite new tax pushed for by New York City mayor
There were 133 contracts signed for apartments priced at $4 million or more between April 14 and May 10, CNBC reports. That compares with 130 during the same period last year. The total dollar volume increased by 10% to $1.12 billion. High-end real estate sales in Manhattan increased in the past month, according to new data, despite the tax on luxury second homes in New York City that state lawmakers recently proposed. Brokers warned the tax could cause a wealth flight. Sales at the very high end remain especially strong, with contracts signed for apartments priced at $10 million or more surging by 80% to 34 contracts.
National
Portland State University negotiating development of 150-room hotel downtown
Portland State University has entered an exclusive negotiating agreement with Colas Development Group to plan a 150-room hotel and conference center in downtown Portland, KGW8-TV reports. The more than $70 million project is a component of PSU’s broader Performing Arts/Culture Center proposal, which also includes a separate, proposed city-owned 3,000-seat venue. University leaders say the hotel would add lodging capacity for performers, conference visitors and event audiences and support downtown revitalization. The negotiating period is expected to last at least six months, with future steps tied to the city providing assurances the overall effort can move forward. City officials emphasize that decisions about Portland’s large-scale performing arts facilities, including the future of Keller Auditorium, are still under review.
Arizona
Waterfront property scheduled for redevelopment as ‘Lakefront at Scottsdale’
Diversified Partners has closed on a Scottsdale waterfront site and plans to redevelop it as “The Lakefront at Scottsdale,” AZ Big Media reports. The roughly 100,000-square-foot property, east of Scottsdale Road near McCormick Parkway, will include restaurant, retail and office space. It is expected to be rebuilt in phases with an emphasis on walkability and public gathering areas. The site was originally developed in 1978, and the developer says some architectural elements will be retained while the property is modernized. The plan includes lakefront dining patios and a pedestrian retail promenade, along with a valet arrival area and a small marina offering solar-powered boat rentals. Construction is expected to start in the third quarter of 2026, with a second phase beginning in early 2027.
Arizona
Newmark brokers $103 million sale, largest office deal in Valley since 2022
Newmark brokered the $103 million sale of the Phoenix Education Partners headquarters off Interstate 10, AZ Big Media reports. Newmark says the deal is the largest Phoenix office sale since 2022. The three-building Class A office campus sits on roughly 37 acres along South Riverpoint Parkway in Phoenix. The 599,664-square-foot property is fully leased to the University of Phoenix under a long-term agreement, giving the undisclosed buyer near-term income.
