National
TODAY’S DEALS: SARES•REGIS Launches Value-Add Fund
SARES•REGIS Group launches a fund targeting western markets; Landmark Apartment trust announces plans to buy management operations of Elco Landmark Residential Housing; and Lee & Associates’ Berzack Group sells a 52-unit asset in Van Nuys, Calif.
SPECIAL REPORT: Knakal Says New York City Sales Market is ‘Phenomenal,’ Land Prices ‘On Fire’
Robert Knakal, chairman of Massey Knakal Realty Services, said the New York City commercial property investment sales market is currently red hot, but warned that sustained periods of low interest rates lead to real estate bubbles.
TODAY’S DEALS: Walker & Dunlop, ARA JV Closes $110M in Loans
A Walker & Dunlop, ARA joint venture completes five financings valued at $110 million; Centerline provides $21 million in acquisition financing; and HFF supplements a first mortgage with a $5.3 million loan.
Economy Watch: Retail Sales Healthy in February
The Census Bureau reported on Wednesday that U.S. retail and food services sales for February increased by 1.1 percent compared with January, and 4.6 percent compared with February 2012.
TODAY’S DEALS: IPA Brokers a 274-Unit Texas Sale
IPA arranges a Texas sale; Beech Street Capital provides $9 million for an off-market purchase in Texas; and Eagle Group Finance provides $1.4 million for the acquisition of entitled land near downtown Los Angeles.
Economy Watch: Job Openings Up Since Early 2012
The Bureau of Labor Statistics’ JOLTS said that there were 3.7 million job openings on the last business day of January, little changed from the last business day of December.
TODAY’S DEALS: Federal Capital Partners Buys Virginia Asset for $20M
Federal Capital Partners buys 127 units; Centerline Capital arranges $6 million for a Pennsylvania purchase; and Beech Street Capital closes $5.7 million Fannie Mae conventional loan.
Economy Watch: Bank Failures Slow Almost to Halt
The rush of U.S. bank failures that began with the financial panic more than four years ago has crawled to a trickle.
TODAY’S DEALS: Vesper Acquires Texas Student Housing Asset
Vesper Holdings buys a 450-bed asset; The Bascom Group completes a Colorado sale with help from ARA; and Alliant Capital completes a $2.1 million loan.
Commercial/Multifamily Mortgage Debt Increases by Largest Amount Since 2008
The level of commercial/multifamily mortgage debt outstanding increased by $21.8 billion, or 0.9 percent, in the fourth quarter of 2012, as all four major investor groups increased their holdings, according to the Mortgage Bankers Association.