National
Economy Watch: Home Prices Up Compared With Last Year
The S&P/Case-Shiller Home Prices Indices, which were released on Tuesday, showed that residential prices were up 4.5 percent in the nation’s 10 largest metro areas, and 5.5 percent in the 20 largest metros, for the 12 months ending in November 2012.
TODAY’S DEALS: MUSA Provides $39.6M FHA 221(d)(4) Construction/Permanent Loan
MUSA Financial provides the largest FHA 221(d)(4) loan through the Fort-Worth, Dallas HUD hub; Bascom Arizona Ventures completes a $13.6 million buy; and Centerline Capital provides a $4 million refinance loan for a seniors asset in Wisconsin.
TODAY’S DEALS: ARA Brokers 309-Unit Sale in Austin
ARA brokers the sale of an Austin asset; KBS Legacy Partners Apartment REIT completes its first purchase of 2013; and NorthMarq Capital obtains $21.7 million in acquisition financing from a life insurance company.
Economy Watch: New Home Sales Down Monthly, Up Annually
The Census Bureau reported on Friday that U.S. new home sales dipped 7.3 percent from November to December (seasonally adjusted, since sales always go down toward the end of the year).
TODAY’S DEALS: Centerline Finances Denver Acquisition with $33M Loan
Centerline Capital provides acquisition financing for a 573-unit asset; HFF arranges a $19.6 million refinancing for Ellis-Trick Multifamily; and Alliant Capital originates two 10-year financings totaling $5.7 million.
Economy Watch: Initial Jobless Claims Lower Than Expected
Initial unemployment claims were down for the week ending Jan. 19 to 333,000, a decrease of 5,000 from the previous week, according to the U.S. Department of Labor,
TODAY’S DEALS: Mack-Cali Buys Two Luxury Properties in Boston MSA
Mack-Cali buys two luxury assets for $150 million; Johnson Capital arranges record loan value per unit of $525,000 per unit; and Marcus & Millichap sells a Delaware property for $5.8 million.
Economy Watch: Multifamily Expansion Slows
According to NMHC, for the first time since 2010, two of the four indexes—market tightness (coming in at 45) and sales volume (which was 49)—dipped below 50, though just barely
TODAY’S DEALS: TDI Real Estate Lands $61.6M for a Scottsdale Development
HFF lands $61.1 million for TDI’s Scottsdale development; Hayley Real Estate buys four properties for $51.2 million, initiates a $12.4 million capital improvement plan; and Marcus & Millichap arranges a $57 million sale in value-add opportunities.
Economy Watch: President States His Intentions
In his second inaugural address on Monday, President Obama touched on a number of presumed priorities of his second term, including economic policy.