National
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.
Tight Credit, Flawed Appraisals and Erratic Supply Chain Hurt Jobs, Housing
The budding housing revival driven by pent-up consumer demand still faces a number of obstacles, including tight credit for builders along with a stretched lot and building supply system in many markets that are barely keeping up with demand.
TODAY’S DEALS: SoCal LIHTC Property Trades for $23.4M
Marcus & Millichap arranges the $23.4 million sale of LIHTC property; SBV Communities enters South Carolina with a 332-unit buy; and Alliant Capital closes on a $4.95 million loan.
Economy Watch: LPS: Home Prices Edge up in December
Ahead of Tuesday’s Case-Shiller numbers, Lender Processing Services released its LPS Home Price Index report, which is based on December 2012 residential real estate transactions. According to the index, U.S. home prices were up 0.1 percent in December compared with November, and up 5.8 percent year-over-year.