National
Economy Watch: Housing Starts Gain Ground in April
The Census Bureau reported that private housing starts came in at an annualized rate of 1.072 million units in April, a sizable 13.2 percent upswing from March, when starts were an annualized 947,000 units.
TODAY’S DEALS: Milestone Completes $28M Apartment Acquisition in Atlanta
Toronto-based Milestone buys in Atlanta; NorthMarq completes a $27M refinancing and helps a borrower avert prepayment penalty; and Marcus & Millichap, IPA handle a Phoenix apartment sale.
Multifamily Surge Propels Housing Starts Over 1 Million Mark in April, Says NAHB
Soaring production of multifamily apartments pushed nationwide housing starts above the million-unit mark in April, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Economy Watch: Homebuilders Confidence a Little Rattled
The National Association of Homebuilders reported that builder confidence in the market for newly built, single-family homes weakened a bit in May.
TODAY’S DEALS: Treetop Completes $60M Sale of 12-Building Portfolio In Northern Manhattan
Treetop Development unloads its portfolio of 12 mixed-use apartment buildings for $60 million; National Real Estate Advisors sells a 111-unit community in Quincy, Mass.; and NorthMarq Capital funds a $13.7 million acquisition loan.
Economy Watch: FHFA Not Focusing on GSE Wind Down
The new director of the Federal Housing Finance Agency, Melvin L. Watt, used his first major speech at the Brookings Institution to emphasize a change in focus for his agency, which is the conservator of Fannie Mae and Freddie Mac, currently the linchpins of the nation’s residential property finance.
TODAY’S DEALS: KRON-TV HQ Sale Paves Way for San Fran Development
NKFC&CCl brokers the sale of KRON Channel 4’s headquarters in San Francisco; a Los Angeles apartment trades hands for $10 million; and Centerline Capital completes a $2 million refinancing in Georgia.
Economy Watch: Retail Sales Eke Out Small April Gain
Retail sales barely budged in April compared with March, according to the Census Bureau.
TODAY’S DEALS: Walker & Dunlop Provides $278M Credit Facility
Walker & Dunlop secures a credit Facility for Milestone Apartment REIT; Greystone acquires a 228-unit asset in North Carolina; and Oak Grove Capital closes 13 loans totaling $123.4 million over the past month.
Economy Watch: Federal Deficit Continues to Drop
The federal government’s budget deficit dropped sharply in the first seven months of fiscal 2014 (beginning Oct. 1, 2013), according to a report by the U.S. Department of the Treasury.