National
Economy Watch: Construction Spending Rises in October
The Census Bureau reported that U.S. construction spending during October came in at an annualized rate of $971 billion, 1.1 percent higher than in September.
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: Manufacturing Continues to Grow
The U.S. manufacturing sector expanded in November for the 18th consecutive month, according to latest Manufacturing ISM Report On Business.
Specialized Software Managing Apartment Residents’ Package Deliveries
More than 37 million U.S. apartment residents receive enormous numbers of holiday packages every year. A load that large requires more than mere tracking numbers. For that reason, one in four apartment communities use specialized software to manage residents’ packages on site.
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: Kushner, Extell Grab Oceanfront Mixed-Use Asset in N.J.
Kushner and Extell buy an oceanfront asset with expansion plans; Steadfast Apartment REIT completes its second buy in Georgia; and NC Pepe Corp. sells a property in Brooklyn’s Williamsburg.
Economy Watch: Residential Price Increases Still Slowing Down
The deceleration of residential prices continues apace, according to the latest S&P/Case-Shiller Home Price Indices.
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.
Economy Watch: World Bank Warns of Long-Term Economic Dislocation from Climate Change
The World Bank released a report on the long-term impact of climate change, focusing on the affect on the “lives and livelihoods” of people in three parts of the world.
TODAY’S DEALS: Greystone Closes $43.7M Affordable Transaction in Alabama
Greystone has closed a $43.7 million affordable housing transaction in Alabama; NorthMarq secures $103.7 million for a Texas portfolio; and Berkadia structures $55 million for the construction of a multifamily property located in a master-planned community.