National
TODAY’S DEALS: Cohen Financial Secures $27.7M Construction Loan Miami Condo
Cohen Financial provides a construction loan to a nearly sold out Miami condo; Morgan Properties and Core Properties acquire a 500-unit portfolio in Maryland; and NorthMarq Capital’s Denver office executes two loans totaling $33.12 million.
Economy Watch: 200k+ Jobs Created in November
The U.S. economy created 203,000 jobs in November, according to the Bureau of Labor Statistics, roughly the same as in October, and a bit more than expected.
TODAY’S DEALS: Campus Advantage Buys 850-Bed Student Housing Asset in Georgia
HFF arranges the sale of a newly built student housing property; Federal Capital Partners provides $10 million for a high-rise student housing asset in North Carolina; and Johnson Capital arranges a $6 million takeout loan for a newly constructed property.
Economy Watch: New Home Sales Jump in October
The Census Bureau reported a spike in new home sales, with sales at an annualized rate of 440,000 units in October, compared with 354,000 units in September, which represents an increase of 25.4 percent for the month.
TODAY’S DEALS: Alliance Residential JV Completes $160M Apartment Acquisition
JLL arranges a 549-unit sale in Coronado, Calif.; Capstone Real Estate Services lands a 10-property management gig; and Grandbridge finances a $27.8 million construction/permanent loan for the development of a seniors housing property.
New-Home Sales Up Sharply in October Says NAHB
Sales of newly built, single-family homes rose 25.4 percent to a seasonally adjusted annual rate of 444,000 units in October, according to data released today by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Economy Watch: Home Price Increases Slowing Down
CoreLogic reported that the increase in home prices nationally—including distressed sales—slowed down in October, rising only 0.2 percent compared with September.
TODAY’S DEALS: Continental Realty Corp. Buys Florida Apartment from Praedium
ARA brokers a sale in Naples, Fla.; NorthMarq arranges $21.7M to refinance two apartments; and Marcus & Millichap arranges a $5.3 million multifamily mid-rise acquisition loan.
Obama Administration Expands Better Buildings Challenge to Multifamily Housing, Launches New Programs to Boost U.S. Energy Efficiency
Building on $2 billion in financing commitments from the private sector for energy efficiency updates to commercial buildings under the President’s Better Buildings Challenge, the U.S. Departments of Energy and Housing and Urban Development expanded the Challenge to multifamily housing and launched the Better Buildings Accelerators to support state- and local government-led efforts to cut energy waste and eliminate market and technical barriers to greater building efficiency.
Economy Watch: More Shop Over Thanksgiving Weekend, But Spent Less
The National Retail Federation reported that more than 141 million Americans did some kind of shopping over the Thanksgiving holiday (Thursday to Sunday), compared with 139 million over the same period last year.