National
New-Home Sales Rise 2.1 Percent in May
Sales of newly built, single-family homes rose for a third consecutive month in May, posting a 2.1 percent gain to a seasonally adjusted annual rate of 476,000 units, according to data released by HUD and the U.S. Census Bureau.
Economy Watch: Chicago Fed National Activity Index Sees Uptick
The Chicago Fed reported that its National Activity Index (CFNAI) increased to –0.30 in May from –0.52 in April, noting that production- and employment-related indicators drove the uptick.
Houston Astrodome Named One of the Most Endangered Historic Places in the U.S.
Once referred to as ‘the Eighth Wonder of the World’, the Houston Astrodome now finds itself in desperate need of a viable reuse plan in order to avoid demolition.
Minneapolis City Council Green-Lights Value Capture District for Nicollet-Central Streetcar Line
Initial approval has been given by the Minneapolis City Council to redirect up to $60 million in property taxes to help pay for a streetcar line which would run along Nicollet and Central Avenues.
New Cambria Suites Hotel Coming to Plano
Plano’s population was estimated to be 272,068 in 2012, an increase of 4.7% since the 2010 census, according to the U.S. Census bureau. The area is home to some of the best rated employers in the country, including Alliance Data, Cinemark Theatres, Dell Services, Dr. Pepper Snapple Group, Ericsson, Frito-Lay, HP Enterprise Services, Huawei, J. C. Penney, Pizza Hut, Rent-A-Center, Traxxas, and Siemens PLM Software.
TODAY’S DEALS: PREI Sells Arizona Asset for $11.5M
Colliers brokers PREI’s sale of a 192-unit asset; and Marcus & Millichap handles a large portfolio sale in Atlanta.
Economy Watch: Most State Unemployment Rates Down
Twenty-five states had unemployment rate decreases, 17 states had increases and eight states and the District of Columbia had no change, the Bureau of Labor Statistics reported.
Sheraton Orlando North Acquisition Marks Sixth Acquisition for Waramaug, Interstate JV
Waramaug Hospitality and Interstate Hotels & Resorts have recently closed on the purchase of their sixth property as joint venture partners, the Sheraton Orlando North Hotel.
Miami Still King to International Homebuyers
Although foreign buyers seem to be slightly less interested in Miami properties compared to the year before, Miami retains its spot as the most sought-after destination by international home buyers.
TODAY’S DEALS: Berkeley Point Capital Provides $10.4M Refi for Affordable Asset
Berkeley Point Capital provides $10.4 million to refinance a Class C community; and Walker & Dunlop arranges $60.7 million for five off-campus student housing properties.