National
TODAY’S DEALS: Cassidy Turley Arranges $129M in Construction Equity, Debt Financing for Insight Property Group
Cassidy Turley arranges $129 million in construction equity and debt financing on behalf of two Insight Property Group developments; Colonial Properties Trust buys a 280-unit community; and The RADCO Cos. acquires a Chicago-area property for $27.9 million.
Commercial and Multifamily Mortgages Banks’ Best Performing Loans and Leases through Credit Crunch and Recession
An analysis of data from the Federal Deposit Insurance Corporation (FDIC) shows that commercial and multifamily mortgages fared better through the credit crunch and recession than any other major type of loan held by banks and thrifts, according to a DataNote released today by the Mortgage Bankers Association (MBA).
Economy Watch: Forbes Updates Billionaire List for ’13
Forbes magazine published its 27th annual list of billionaires on Monday, with most of the usual suspects populating the tip-top of the list, such as Mexican communication mogul Carlos Slim Helu, Bill Gates, Warren Buffet and the Koch brothers all making appearances, though they fluctuate in position from year to year.
TODAY’S DEALS: Bascom Acquires Two Arizona Assets
A Bascom Arizona Ventures subsidiary buys two properties; Timberland Partners sells a Texas asset with help from ARA; and NorthMarq Capital arranges two-year interest-only mortgage refinancing for a $30 million Freddie Mac loan.
Economy Watch: Personal Income Drops
The Bureau of Economic Analysis reported that U.S. personal income took a hit in January. At $505.5 billion, income was down 3.6 percent for the month, the largest drop in about 20 years.
TODAY’S DEALS: Variant Buys 3,709-Unit Portfolio in Receivership Sale
Variant acquires a 14-property portfolio; CBRE New England sells two Boston walk-ups; and ARA Dallas announces sale of Class A property in a top city.
Economy Watch: Small Uptick for 4Q GDP
The Bureau of Economic Analysis reported that real U.S. GDP was up during the fourth quarter of 2012, as opposed to the contraction reported in the bureau’s preliminary GDP estimate a few weeks ago.
TODAY’S DEALS: MIG Acquires 304-Unit Asset in Scottsdale
MIG Real Estate buys a Scottsdale asset; McCann enters San Antonio with a 324-unit buy; and Beech Street Capital assists a borrower to lock rate six months in advance in a $15 million Fannie Mae refinance.
TODAY’S DEALS: NorthMarq Arranges $39.5M Fannie Mae Mortgage for Acquisition
NorthMarq Capital arranges a $39.5 million Fannie Mae loan through AmeriSphere Multifamily Finance; a JV buys a large Maryland asset; and Steadfast acquires a 26.4-acre parcel in Kentucky with plans for a 256-unit development.
Economy Watch: Housing Market Gets Some Legs
According to the S&P/Case-Shiller Home Price Indices released, all three headline composites ended 2012 with strong gains.