News
Economy Watch: Jobless Claims Down, Trade Deficit Up
The Bureau of Labor Statistics reported that the number of initial unemployment claims for the week ending May 5 was 367,000, a decrease of 1,000 from the previous week’s revised figure of 368,000.
Donald H. Layton Named CEO of Freddie Mac
Freddie Mac announced that its Board of Directors has appointed Donald H. Layton as chief executive officer and has elected him as a member of the Board of Directors. Layton will join the company on May 21, 2012.
MARKET SNAPSHOT: Salt Lake City Outpaces Nation in Employment, Occupancy
Salt Lake City sported one of the lowest metropolitan unemployment rates in the nation at the beginning of 2012–at 6.5 percent, down from 6.9 percent in 2011.
KBS Legacy Partners Announces New Acquisition
KBS Legacy Partners Apartment REIT, a joint venture sponsored by KBS Capital Advisors LLC and Legacy Partners Residential Realty LLC, has recently made a large multifamily acquisition.
TODAY'S DEALS: MG Properties Buys Seattle Asset for $18.5M
MG Properties group buys a Seattle asset from an affiliate of Goodman Real Estate; Primedia completes its purchase of Rent.com; and Beech Street arranges a $10 million CMBS loan to refinance a student housing asset.
Design for Highrise Residences in Beirut Complete
The design for the first phase of Waterfront City in Beirut, which will include 270 residences rising eight levels above street level, has been completed.
Arbor Appoints Matthew Nihan as Originator in New York City Office
Arbor Commercial Mortgage LLC announced the promotion of Matthew Nihan to originator in the company’s New York City office.
Economy Watch: Fannie Mae Reports Tidy Profit
Fannie Mae reported on Wednesday that it scored net income of $2.7 billion in the first quarter of 2012, up from a net loss of $6.5 billion a year ago and $2.4 billion in 4Q11.
Northwest Georgia Property Combines Green, Affordable Features
The Northwest Georgia Housing Authority recently completed Village Green, a 10-unit public housing project designed with an unusually large number of sustainable features for an affordable property.
TODAY'S DEALS: Aragon Completes Kansas City Acquisition
Aragon Holdings breaks the 3,000-unit mark with its most recent purchase; Beech Street provides a $20.2 million refinancing loan for a Miami community; and Preferred Apartment Communities lands a mezzanine loan for a 140-unit community with an option to purchase.