National
Fannie Mae and its Lenders Finance $33.8 Billion in Multifamily Loans in 2012
Fannie Mae provided $33.8 billion in financing to the multifamily market in 2012, the third highest acquisition year in its history.
21 Percent Drop In Volume of Commercial and Multifamily Mortgages Maturing This Year
$119.5 billion, 8 percent of the outstanding balance, of commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2013, a 21 percent decline from the $150.6 billion that matured in 2012, according to today’s release of the Mortgage Bankers Association’s (MBA) 2012 Commercial Real Estate/Multifamily Survey of Loan Maturity Volumes.
TODAY’S DEALS: ARA Sells 180-Unit Asset in Texas
An Oregon-based buyer acquires a Texas asset; Marcus & Millichap sells a N.J. HUD community for $16.1 million; and Gebroe-Hammer completes four sales in Southern New Jersey/Philadelphia.
Economy Watch: Number of Marginally Attached, Discouraged Workers Down
At a net of 157,000 new jobs, the rise in employment during January wasn’t particularly strong, but there was other good news in Friday’s Bureau of Labor Statistics report.
TODAY’S DEALS: Beech Street Closes $70M for N.J. High-Rise
Beech Street Capital refinances a high-rise; Campus Apartments begins the second phase of a student housing overhaul at Shippensburg University; and Waypoint Residential acquires a suburban Atlanta community and expands its portfolio in South Carolina.
Economy Watch: Job Creation Starts 2013 Lackluster
The U.S. economy created 157,000 jobs in January, according to the Bureau of Labor Statistics. That’s down compared with most months in 2012, which averaged about 181,000 jobs created per month, so 2013 is off to a tepid start.
TODAY’S DEALS: LYND Residential Acquires 438-Unit Asset in Houston
LYND residential makes a value-add buy in Houston; Federal Capital Partners provides $10 million in mezzanine debt for a Virginia development; and NorthMarq Capital arranges a $38 million loan from a life insurance company.
Economy Watch: GDP Edges Down in 4Q
Real U.S. gross domestic product declined at an annualized rate 0.1 percent during the fourth quarter of 2012, according to the Bureau of Economic Analysis’ preliminary estimate.
Freddie Mac Announces Second Multifamily Securities Offering of the Year, K-025
Freddie Mac announced a new offering of Structured Pass-Through Certificates (“K Certificates”), which are multifamily mortgage-backed securities.
TODAY’S DEALS: Walker & Dunlop Provides TF Cornerstone with $120M
Walker & Dunlop lands $120 million for an apartment tower in Queens, N.Y.; a new mixed-use asset is coming to Charles City, Iowa; and NorthMarq arranges a $19.9 million mortgage with two years interest-only.