National
Economy Watch: Annualized GDP Rate at 4.1 Percent for 3Q
Revised 3Q GDP increases to an annualized rate of 4.1 percent, while state unemployment levels continue to drop, with energy-booming North Dakota leading the way with a jobless rate of 2.6 percent.
TODAY’S DEALS: Walker & Dunlop Arranges $43.5M for New Orleans Acquisition
Walker & Dunlop provides $43.5 million for a New Orleans acquisition; Apartment REIT Home Properties acquires 252 units; and Johnson Capital arranges $5.4M loan for purchase of affordable apartment community.
Economy Watch: National Association of Realtors Reports Existing Home Sales Dropped
The National Association of Realtors reported total U.S. existing home sales, including single-family, condos and co-ops, dropped 4.3 percent in November compared with October, down to an annualized rate of 4.9 million units.
TODAY’S DEALS: NGKF Completes $30M Sale of Flushing Redevelopment Site
A NGKF sale paves the way for a mixed-use development; Spirit Bascom Ventures acquires its second N.Y. property in a $33.1 million transaction; and Centerline closes $28.3 million in Fannie Mae financing for a multi-property deal in the Southeast.
Risk Mitigation 101: Insurance Best Practices for Apartment Owners
Five steps apartment owners can take to mitigate risk.
Economy Watch: New Housing Starts Rise in November
Private housing starts in November came in at an annualized rate of 1,091,000 units, according to the Census Bureau.
TODAY’S DEALS: Carroll Organization Acquires 298 Units in Orlando
Carroll Organization completes a $36.6 million buy; Kennedy Wilson expands with $160 million in West Coast acquisitions; and Walker & Dunlop arranges $43.5 million acquisition financing with interest-only terms.
Economy Watch: CPI Doesn’t Move in November
The Consumer Price Index for All Urban Consumers didn’t budge in November, according to the Bureau of Labor Statistics.
TODAY’S DEALS: Berkeley Point Capital Arranges $63M for Texas Apartment Acquisitions
Berkeley Point Capital arranges financing for the Steadfast acquisitions; IPA brokers a $47 million sale in Los Angeles; and BMC Capital provides a $1.29 million cash-out refinance loan.
Builder Confidence Rises Four Points in December, Says NAHB
Builder confidence in the market for newly built, single-family homes improved four points to a 58 reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for December.