Finance & Investment
Economy Watch: Pending Home Sales See Uptick
The National Association of Realtors’ Pending Home Sales Index—a forward-looking indicator based on contract signings—was up 0.8 percent to 104.8 in November from 104.0 in October.
Economy Watch: Holiday Retail Sales Strong This Year
Holiday retail sales between Thanksgiving and Christmas—except for car sales— increased 5.5 percent this year compared to the same period last year, according to MasterCard’s SpendingPulse report.
Seniors Community Funded by WNC LIHTC Equity Opens in Honolulu
Pacific Housing Assistance Corporation recently held a dedication ceremony to officially mark the opening of Senior Residence at Iwilei, an affordable seniors housing building that was partially funded with $24 million in LIHTC equity from Irvine, Calif.-based WNC.
TODAY’S DEALS: Canyon Capital Provides Related JV with $157M for Miami Condo/Hotel
HFF arranges $157 million for a mixed-use Miami development; Equus Capital Partners acquires 288 units in Atlanta; and Berkadia arranges more than $26 million for two multifamily properties on the East Coast.
Economy Watch: Black Friday Sales Edge Down
A variety of retail sales estimates came out over the weekend, all pointing to the conclusion that Black Friday by itself isn’t quite the sales driver it once was.
TODAY’S DEALS: StarPoint Grabs 259 Units in Los Angeles County
StarPoint completes a $51.8 million acquisition; Marcus & Millichap brokers a 26-unit sale in Illinois; and NorthMarq Capital arranges $11.86 million in Fannie Mae acquisition financing.
Fannie Mae Partners with Detroit Land Bank Authority to Stabilize Neighborhoods
Fannie Mae has partnered with the Detroit Land Bank Authority to help stabilize neighborhoods hard-hit by foreclosure.
Empty Nesters and Millennials Drive Urban and Suburban D.C. Multifamily Market
The greater Washington D.C. area has more than 30,000 apartment units coming online, scaring some institutional investors.
TODAY’S DEALS: Olympus Property Acquires Luxury Adaptive Reuse High-Rise in Downtown Dallas
A 440-unit high-rise in Dallas trades hands; Domain Acquisitions and BH Equities acquire 672 units in North Phoenix; and NorthMarq Capital secures $103.7 million in Freddie Mac refinancings to take out bank loans.
APARTMENT MARKET STATISTICS: November 2014
Multifamily housing starts hit 423,000 units in July, reports the National Association of Home Builders (NAHB).