National
Economy Watch: Consumers Feeling a Little Better
The preliminary Reuters/University of Michigan consumer sentiment index for February, which was released on Friday, increased to 76.3 from the January level of 73.8.
TODAY’S DEALS: Rockefeller Group, IPA Break Ground in Arizona
A $57.5 million development breaks ground near Phoenix; Terrace Capital provides $7.8 million for an Ohio asset; and Cohen Financial secures financing for properties in the Midwest.
Economy Watch: Foreclosures Plummet Because of California
RealtyTrac reported on Thursday that U.S. foreclosure filings—meaning all default notices, scheduled auctions and bank repossessions—were reported on a bit more than 150,800 residential properties in January.
TODAY’S DEALS: GoldOller Acquires a Jacksonville Asset for $56M
GoldOller buys a 555-unit asset; Marcus & Millichap Capital Corp. arranges a $8.4 million refinancing for a Philadelphia community; and Boston Capital invests in two affordable developments.
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.