National
Economy Watch: Debt Ceiling Lumbers Back Onto National Stage
The House is again working on a bill to raise the debt ceiling, and the Las Vegas housing market is showing signs of a recovery now that 72 percent of residential transactions are conventional.
Economy Watch: January Jobs Numbers Mixed, Budget Deficit Shrinks
January numbers show that construction and manufacturing jobs are hot, while professional and business services jobs are not. Also, the Congressional Budget Office reports a shrinking budget deficit.
Fannie Mae Provides $28.8 Billion in M-F Financing in 2013
Fannie Mae details its 2013 financing activity. The GSE met the FHFA’s 10 percent reduction mandate from 2012 levels, though the entity still saw an uptick in seniors and manufactured housing activity.
TODAY’S DEALS: Baltimore M-U Asset Lands $120M for Redevelopment
HFF secures $120 million for Hekemian’s mixed-used redevelopment in Baltimore; Berkeley Point Capital executes a $9.8 million refinancing in San Antonio; and BMC Capital provides a $1.3 million loan for a property in Austin.
Borrowers Start Using Freddie Mac Index Lock Program
Centerline Capital Group has become one of the first lenders to execute under the new Index Lock program with a $13.3 million loan for a Texas property.
Economy Watch: Job Growth Tepid in January
The U.S. economy created 113,000 jobs in January and the unemployment rate falls to 6.6 percent. In addition, Trulia reports that home prices continue to rise, albeit at a slower rate.
TODAY’S DEALS: Bell Partners Acquires Fort Lauderdale Apartment
Bell Partners picks up a 336-unit community; NorthMarq Capital negotiates a $30.5 million acquisition loan; and Pembrook Capital Management closes $7.3 million to recapitalize a mixed-use community in Chicago.
JBG Teams with STRS Ohio on Arlington County Mixed-Use Development
The JBG Cos. has entered into a joint venture partnership with the State Teachers Retirement System of Ohio to develop Central Place, a 31-story, mixed-use development in Roslyn, Va.
Economy Watch: ADP Says 175k Jobs Added in January
Job growth remains steady in spite of winter weather according to analysis of the latest ADP numbers. In addition, the Fed reports that most domestic banks are easing their lending standards on a variety of business and consumer loans.
Starwood Spins Off Single-Family Rental REIT
Shares in Starwood Waypoint Residential Trust, a single-family rental real estate investment trust, have started regular trading on the New York Stock Exchange under the ticker symbol SWAY.