National
TODAY’S DEALS: NorthMarq Refinances San Diego Apartment Asset
NorthMarq arranges a $52 million refinancing in San Diego; ARA brokers a Texas sale to a Montana buyer; and Dominium acquires an affordable housing community in Florida.
Economy Watch: E-Commerce Retail Continues to Expand
The Census Bureau reported that U.S. e-commerce retail sales for the first quarter of 2014, adjusted for seasonal variation, but not for price changes, was $71.2 billion, an increase of 2.8 percent compared with the fourth quarter of 2013.
TODAY’S DEALS: Hamilton Zanze Sells 292-Units in Colorado Springs
ARA brokers a $40.5 million sale in Colorado; HFF arranges construction financing and joint venture equity for a mixed-use office and residential development in Houston; and Walker & Dunlop provides a three-year, cash-out, bridge loan for an assisted living facility.
Johnson-Crapo Housing Finance Reform Legislation Advances
The National Multifamily Housing Council and National Apartment Association have issued a joint statement from NMHC senior vice president of government affairs Cindy Chetti, hailing the Senate Banking Committee’s passage of housing finance reform legislation.
Selling Condo Hotels
New SEC regulations facilitate the sale of condominium hotel units.
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.