National
Economy Watch: Fed Calls U.S. Growth Ho-Hum
The Federal Reserve released the latest “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” better known among economy wonks as the Beige Book, and it called U.S. economic growth “moderate.”
TODAY’S DEALS: Toll Brothers and AECOM Announce Luxury Jersey City Project
Toll Brothers and AECOM to break ground this spring; Lincoln Property Co. and Phoenix Property Co. land $150 million for a 420-unit development in Los Angeles; and HFF closes a $29 million sale of a development site on Biscayne Bay in Miami.
Mortgage Bankers’ Commercial/Multifamily Originations Rise to $244.2 Billion In 2012
Commercial and multifamily mortgage bankers closed $244.2 billion of loans in 2012 according to the Mortgage Bankers Association’s (MBA) 2012 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
First-Quarter Economic Growth Stronger Than Expected
Recent data indicate that economic growth in the first quarter has accelerated to an above-trend—but likely unsustainable—pace of 3.2 percent, according to Fannie Mae’s Economic & Strategic Research Group.
Economy Watch: Housing Starts Continue Upward Trajectory
Housing starts were up in March to an annualized rate of about 1.03 million units, according to the Census Bureau.
TODAY’S DEALS: Kennedy Wilson Adds 188-Unit Asset to Calif. Portfolio
Kennedy Wilson completes a $34 million acquisition; American Campus Communities enters a referral agreement with the University of South Florida; and NorthMarq arranges a $28.2 million Fannie Mae mortgage.
Housing Starts Rise on Strength in Multifamily in March
Soaring production of multifamily apartments pushed nationwide housing starts beyond the million-unit mark for the first time since 2008 in March, according to newly released figures from HUD and the U.S. Census Bureau.
Economy Watch: Homebuilder Confidence Slips
As the U.S. residential market improved throughout 2012, homebuilders grew more optimistic month by month, but now the trend has gone in reverse.
TODAY’S DEALS: RHP Properties Buys $865M in Manufactured Housing
RHP Properties becomes the nation’s largest private manufactured housing owner; and ARA sells a 250-unit community in Houston.
Economy Watch: Retail Sales Off in March
Consumers pulled back their spending in March, according to the Census Bureau, with total U.S. retail sales down 0.4 percent month-over-month.