Washington, D.C.–U.S. wholesale inventories fell in March but sales of goods increased, the Commerce Department said Thursday.Wholesale inventories fell 0.1 percent to a seasonally adjusted $420.77 billion. U.S. wholesaler sales grew 1.6 percent to a seasonally adjusted $384.34 billion in March, following a revised 0.5 percent decline in February, The Wall Street Journal said.The number of U.S. workers filing new unemployment claims dropped unexpectedly last week–but remained at high levels due to the weak labor market.After seasonal adjustments, initial jobless claims dropped 18,000 to 365,000 in the week ended May 3, the Labor Department said Thursday. Ongoing claims lasting more…

London–The U.S. and Europe both want to see the dollar strengthen against the euro, according to the Financial Times.Senior officials told the London-based paper that policymakers want the dollar–which at one point this week hit a six-week high against the euro–to recover because they’re worried the currency markets have been focusing too on short-term economic weakness in the U.S.Senior eurozone officials feel that the dollar-euro rate had risen to levels that would fail to help either the U.S. or Europe, the Times said. The officials want to sidestep a situation in which the dollar could plunge too far before rebounding…

Washington, D.C.–Citing recent allegations that Countrywide Financial Corp.’s previous profits were the result of poor lending practices, U.S. Senator Charles Schumer advised Bank of America Corp. to reconsider its $4 billion offer for Countrywide, Bloomberg said.Speaking to the Senate, Schumer said mortgage lenders had increased fees for borrowers are already in bankruptcy and said Congress is pondering legislation to increase penalties on “bad-actor lenders.” Some investors have hypothesized that Bank of America may ask for better terms or call off its takeover of Countrywide because the housing market and Countrywide’s performance have fallen since talks began.Bank of America spokesman Scott…

By Anuradha Kher, Online News EditorNew Orleans/Columbia, S.C./St. Cloud, Minnesota/Chicago/Grand Forks, N.D.–NorthMarq Capital recently arranged mortgage financing totaling $26.55M for five apartment communities across the U.S.The company’s Charlotte regional office completed first mortgage financing of $13 million for Wind Run Apartments, a 400-unit rental property, located in New Orleans. Financing was based on a 10-year term with a 30-year amortization schedule and was arranged for the borrower, Wild Run Apartments LLC. The office also arranged a first mortgage financing of $3.75 million for Raintree Apartments, a 138-unit property, located in Columbia, S.C. Financing was based on a 10-year term with…

By Anuradha Kher, Online News EditorAustin–Stratus Properties Inc., headquartered in Austin, and the Canyon-Johnson Urban Fund recently secured $165 million in construction financing from Corus Bank for the construction on the W Austin Hotel & Residences, a $295-million mixed-use project, located in downtown Austin’s 2nd St. district, overlooking Lady Bird Lake. The project is seeking LEED certification and is slated for completion in early 2011. “We are thrilled to be playing an active role in supporting Mayor Will Wynn’s goal of 25,000 residents in downtown by 2015,” says Beau Armstrong, CEO of Stratus Properties Inc. The Downtown Austin Alliance recently commissioned an…

Richard Swerdlow, CEO, founded Condo.com (formerly US Condo Exchange) in 2005 and is responsible for the company’s strategic direction and operations. Previously, he founded Everything Wireless, the first consumer cataloger and Internet retailer, which provided national distribution of wireless phones and accessories. The company grew to $100 million in revenues. Richard has an extensive background in real estate development, has been personally involved in selling over 10,000 condo units and exited his real estate projects prior to the real estate bubble bursting in South Florida.He talks to Anuradha Kher, online news editor at MHN, about the Florida condo market, the…

By Anuradha Kher, Online News EditorBoca Raton, Fla.–American Water & Energy Savers formed a partnership with Power Buyer Green, operated by GEMSA Loan Services LP, along with Grant Capital Management, to deliver a water conservation program designed to save money for owners of multifamily properties of 100 units or more.With these companies’ combined efforts, AWES will be able to offer an Off The Balance Sheet Financing program to owners of multifamily properties. This program will allow property owners to pay for water conservation and toilet retrofit programs using future water and sewer savings generated.  “The property owner contacts us, we…

By Lisa Iannucci, Green Building CorrespondentWashington, D.C.–JPI East, a division of Irving, Texas-based JPI,  is developing the first multifamily rental community in Washington, D.C. to earn LEED (Leadership in Energy and Environmental Design) Silver certification for new construction.Currently known as Jefferson at Half Street, the development will be a 419-unit luxury multifamily community that will include 12,000 sq.-ft. of retail space and will face Half Street, a popular retail destination in the city. To achieve LEED Silver certification for Jefferson at Half Street, JPI will meet a variety of requirements set by the U.S. Green Building Council. Some of the…

Washington, D.C.–The Bush administration indicated it would veto the housing bill House Democrats are sponsoring that would give $15 billion to states to buy and revamp vacant homes, Bloomberg said Wednesday.”The principal beneficiaries of this type of plan would be private lenders–who are now the owners of the vacant and foreclosed properties–instead of struggling homeowners who are working hard to stay in their homes,” the White House said in a statement. The White House’s Office of Management and Budget said that President George W. Bush’s “senior advisers would recommend he veto the bill” if the legislation reached him.States would fix…

London–Homes worth more than £1 million ($1,952,015) have been hardest hit by the U.K. residential market decline, the Mail On Sunday reports.The average prices of the country’s most expensive homes have fallen from 10 to 15 percent since September, according to London-based real estate agency Hamptons.Homes that sell for £200,000 ($390,403) also declined over the same time frame–but only fell 3 percent.A home that sold for £960,000 ($1,873,934) in fall would now only garner £820,000 ($1,600,434)–and the decline could indicate the start of a large U.K. housing slump, the Mail said.