Distress test: Valley apartment loans appear on real estate watch list as sector softens

Though some local experts believe there is reason for optimism in the multifamily real estate sector —?including an imminent interest rate cut —?others maintain that the "next 24-36 months will be difficult for developers, investors, lenders, brokers and contractors."

This week's cover story from reporter Angela Gonzales engages with experts about their expectations for the future, why apartment developers are facing financial issues and what it means when apartment loans wind up on CMBS watch lists.

Hot off the Press

The headlines you need to see before kicking off the weekend.

• Ahwatukee's last big parcel to become giant residential community with 1,500 homes | Angela Gonzales
• West Valley mixed-use project proposed along Loop 101 | Audrey Jensen
• Sprouts expands real estate footprint nationwide, with new stores announced for the Valley | Brandon Brown

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In the Tech World

Each week, here's where we feature our latest tech news.

Microchip Technology Inc. was recently hit by a cyberattack, impacting the Chandler-based semiconductor company’s operations and its ability to fulfill orders.

Microchip (Nasdaq: MCHP) detected suspicious activity involving its IT systems on Aug. 17 and promptly took steps to address the incident, including shutting down certain systems and launching an investigation with the assistance of external cybersecurity advisers, according to a regulatory filing.

As a result, some of Microchip’s manufacturing facilities are operating at “less than normal levels" and processing of some product orders is impacted, the company said in the filing.

Written by Amy Edelen : Microchip Technology hit by cybersecurity attack

Executive Spotlight

Each week we highlight a video clip from our weekly profile interview series, Executive Inc.

Noah DiPasquale

Company: Epic Golf Club

Education: Bachelor’s in business administration from Northern Arizona University , MBA from the 美国凤凰城大学

Read full interview by Brandon Brown

Newsletter curated by Phoenix Business Journal Managing Editor Paul Thompson and Associate Editor Mignon Gould, MFA. If you have any tips for the newsroom, please reach out to Paul at [email protected] or Editor-in-Chief Greg Barr at [email protected].