National
MBA Survey: Multifamily Lending Volume Expected to Increase in 2014
A majority of respondents expect loans for CMBS, commercial banks, life companies, and pension funds to increase this year, while loans for Fannie Mae, Freddie Mac and FHA will decrease.
TODAY’S DEALS: Fairfield Residential Acquires Baker Chocolate Factory in Boston
Beacon Communities sells a 133-unit asset in Boston to an affiliate of Fairfield Residential; Levin Realty completes a 559-unit acquisition in Greenville, S.C.; and a 12-unit Manhattan loft building trades for $12 million.
Economy Watch: December Employment Surprises on the Downside
Despite anemic overall hiring in December, total hiring was roughly the same in 2013 as it was in 2012. The unexpectedly tepid monthly numbers probably won’t cause a delay in the Fed’s tapering.
Timberland Acquires Four Properties Totaling 818 Units
Minneapolis-based Timberland Partners acquires a quartet of geographically diverse multifamily properties in December.
TODAY’S DEALS: KeyBank Provides $27.9M for N.C. Community
KeyBank closes $27.9 million for a community in North Carolina; Lee & Associates completes a $3 million sale in Studio City, Calif.; and NorthMarq secures a $13 million CMBS loan.
Economy Watch: Economy Adds 74,000 Jobs in December
Bureau of Labor stats show 74,000 jobs added in December. ShopperTrak reports a 2.7 percent increase in retail sales this holiday season over last, and newly released Mortgage Bankers Association survey results show an expected increase in volume for 2014.
Economy Watch: ADP Reports Strong December Showing for Private-Sector Employment
More jobs were added in December than any other month in 2013 according to ADP, and newly-released Fed minutes confirm that the tapering of bond-buying will proceed in January.
Instrata at Mercedes House Fully Leased
If you need a anecdote for the strength of multifamily demand in Manhattan, consider that Invesco’s 162-unit Instrata at Mercedes House has leased up to full occupancy in just 10 months.
TODAY’S DEALS: Bell Partners Completes 207-Unit Buy in Dallas
Bell Partners acquires a newly-built asset in Dallas; Charles Dunn Co. completes a $2.8 million sale in Los Angeles; and Arbor Commercial funds $55 million for an acquisition.
Economy Watch: Home Prices Up Annually, Barely Move Monthly
The growth of home prices slows down, and U.S. total crude oil production should reach its highest level in four decades in 2015.