National
Economy Watch: Retail Sales Inch Up
U.S. retail sales grew at their slowest rate in three months, the Census Bureau reported.
TODAY’S DEALS: AEW Buys 128-Unit Hoboken Asset for $67M
AEW Capital Management completes a Hoboken buy; Bloomfield Capital closes a $3.3 million bridge loan for a Houston property; and Arbor Commercial Mortgage funds $9.6 million in FHA financing for a portfolio of properties in Puerto Rico.
Economy Watch: President Reiterates Economic Proposals
As expected, much of President Obama’s State of the Union address on Tuesday focused on the economy, and in particular what he wants to do about the nervous economic state of the American middle class.
NorthMarq Ranks Among Freddie Mac Top Mortgage Sellers With $1.9 Billion in 2012
NorthMarq Capital ranked among the country’s top-10 Freddie Mac multifamily mortgage lenders. NorthMarq produced a loan volume of $1.9 billion in Freddie Mac transactions in 2012, making it sixth on the list.
TODAY’S DEALS: Michigan Student Housing Portfolio Trades for $101.8M
A 2,772-bed portfolio trades hands in Michigan; The RADCO Cos. buys a 144-unit asset in Georgia; and Johnson Capital arranges a $8.4 million, five-year fixed-rate loan from a bank.
NMHC and NAA Study: Apartment Industry and Residents Contributed $1.1 Trillion to the Economy
Despite the worst economy in a generation, apartments and their residents contributed $1.1 trillion to the national economy in 2011, supporting 25.4 million jobs, according to a new report released today by the National Multi Housing Council and the National Apartment Association.
Economy Watch: Home Prices Up in Most MSAs
The National Association of Realtors reported on Monday that existing single-family home prices rose in 133 out of 152 U.S. metropolitan statistical areas, based on closings in the fourth quarter compared with same quarter in 2011, while 19 areas had price declines.
TODAY’S DEALS: Brookfield Acquires 19-Property Portfolio
Brookfield completes a $414 million portfolio buy; MG Properties Group acquires a 736-unit asset in Ontario, Calif.; and NorthMarq Capital arranges $20.2 million in combined acquisition mortgages from a bank.
SPECIAL REPORT: Fannie Mae Stresses Loan Quality, Risk-Sharing and Profitability for U.S. Taxpayers
Fannie Mae’s priority in 2013 will be to continue focusing on loan quality, said Jeffrey Hayward, senior vice president, head of the Multifamily Mortgage Business, Fannie Mae.
Economy Watch: Trade Numbers Point to 4Q Growth
The U.S. Department of Commerce reported on Friday that the U.S. trade deficit dropped from $48.6 billion in November to $38.5 billion, both as the result of rising exports and dropping imports.