Commercial, Multifamily Markets Well-poised for 2021 

Credit: BKD

Budget, Policy & Stimulus News 

IRS Extends Opportunity Zone Deadlines 

The IRS has again extended the deadline to invest in qualified opportunity zones. The deadline was extended to March 31st for investors who’s initial 180-mandated investment period ended after April 20th, 2020. (Source) 

Phoenix OKs Distribution for $51.1M in Rent, Utility Assistance 

Phoenix City Council has approved a plan to distribute $51.1 in federal funds to aid residents with rent and utility payments. Applications are expected to start March 8th. The city has partnered with community organization Wildfire for help in the distribution. The city’s Human Services Department will receive $26M, and $25M will go to Wildfire. The two organizations will use subcontractors for efficient distribution. (Source) 

Economic News 

Commercial, Multifamily Markets Well-poised for 2021 

A recent report shows lending markets for commercial real estate and multifamily are set up for strong growth this year. Lenders expect to close $486B in 2021, up from $440B in 2020. Mortgage maturity volumes should increase 36 percent, and multifamily lending is expected to rise 11 percent. (Source) 

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