National
Apartment Fundamentals Still Strong
The apartment market isn’t remotely sluggish, but it isn’t the frenetic, ants-in-its-pants creature it became after the housing crash converted a lot of people into renters, or persuaded Gen Xers and Millennials that renting a few more years than their parents isn’t a bad thing.
TODAY’S DEALS: Dwight Capital Funds $41.5M in HUD Loans
Dwight Capital closes out 2014 with a trio of HUD loans; a Canadian investment firm nabs a REO condo parcel in Illinois; and Meridian Capital arranges a five-year, $10.5 million acquisition loan for a Queens, N.Y., property.
Office Vacancies Drop as Economy Strengthens
Reis reported that U.S. office vacancies—the national average—dropped from 16.8 percent in the third quarter of 2014 to the 16.7 percent in the fourth quarter.
Economy Watch: A Look at the Slip in Construction Spending
The Census Bureau reported that U.S. construction spending dropped in November.
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.
RealtyTrac Reports Distressed Condo Sales Continue to Drop
The percentage of distressed condo sales nationwide continues to drop, according to a year-end report by RealtyTrac.
Economy Watch: Case-Shiller Reports Residential Price Deceleration
According to S&P on Tuesday, the Case Shiller U.S. National Home Price Index recorded a 4.6 percent gain in October 2014 compared with a year earlier.
TODAY’S DEALS: Waterton Grabs 236-Unit High-Rise in Atlanta
Waterton Associates expands in Atlanta; Roxbury Ventures completes a $3.9 million sale in West Hollywood; and BMC Capital provides a seven-year $1.739 million acquisition loan via a banking relationship.
Economy Watch: Home Price Increases Sluggish
The post-recession trajectory of U.S. residential prices has one of increases, but data since early 2014 has pointed to a slowing down of those increases.
TODAY’S DEALS: Steadfast Enters Colorado with $40M Buy
Steadfast Apartment REIT buys a 252-unit asset; CPR Money provides $7.8 million for a Kansas City acquisition and rehab; and Walker & Dunlop originates a $23 million bridge loan in Austin, Texas.