National
TODAY’S DEALS: EQR Secures $2.5B Credit Line for Archstone Deal
Equity Residential closes a $2.5 billion credit facility; The Bozzuto Group announces details regarding a D.C. condominium development; and NorthMarq Capital arranges a $16.5 million life company loan.
Economy Watch: Fed Chairman to Congress: Pay Your Bills
Fed chairman Ben Bernanke gave a speech at the University of Michigan on Monday, characterizing the U.S. economy as in a “relatively fragile recovery,” and noting that there has been only “modest improvement” in the labor market.
TODAY’S DEALS: Rambleside Acquires 586-Unit Asset in Charlotte
ARA brokers the sale of a 586-unit asset in Charlotte; Boston Capital closes a tax credit fund encompassing 22 affordable properties; and Aries Capital helps an owner secure financing for a fractured condo/apartment community.
Economy Watch: Trade Deficit Up
The U.S. Department of Commerce reported that the trade deficit (both goods and services) was up to $48.7 billion in November, compared with $42.1 billion in October.
TODAY’S DEALS: Related California Breaks Ground on 19-Story L.A. Tower
Related California begins a $120 million project in Los Angeles; NorthMarq arranges $62.09 million in Freddie Mac refi loans for S. Florida properties; and Gingko Residential completes an $8.5 million purchase in Charlotte.
APARTMENT MARKET STATISTICS: January 2013
The Apartment Market Statistics section of the January 2013 issue of MHN features a range of important multifamily data.
Economy Watch: Holiday Retail Sales Up Modestly
Early indications were that retail sales during the holidays were modest, and now more data is coming in to reinforce the point.
TODAY’S DEALS: Forest City Completes $70.5M Miami Disposition
Forest City sells a $70.5 million asset in southwest Miami; Cassidy Turley secures $85 million in construction financing for a Reston, Va. trophy property; and Encore Multi-Family breaks ground on a $32 million development in Dallas.
Economy Watch: Retail Vacancies Edge Down
Reis Inc. reported on Wednesday that the vacancy rate for regional malls declined to 8.6 percent in the fourth quarter of 2012, down from 8.7 percent in the third quarter and 8.9 percent in 4Q11.
TODAY’S DEALS: M&T Capital Provides Kennedy Wilson with $51.8M for Two Assets
HFF lands $51.8 million for Kennedy Wilson; San Antonio Commercial Advisors completes a 480-unit sale; and a 46-unit Manhattan Upper West Side building fetches $47 million.