National
Economy Watch: Consumers Borrow More for Schooling, Vehicles
Consumer borrowing rose at an annualized rate of 7 percent in November, according to the Federal Reserve on Tuesday. The lion’s share of the increase was non-revolving credit, especially student loans, which was up an annualized rate of 9.5 percent.
TODAY’S DEALS: TM Equities Completes $82.8M Colorado Buy
TM Equities buys a 660-unit asset in Colorado; Aimco sells a 600-unit community in Illinois; and Aztec Group secures a $49.6 million loan encumbering two properties in Florida.
Economy Watch: Multibillion-Dollar Mortgage Settlements Unveiled
Bank of America reached an $11.6 billion settlement with Fannie Mae on Monday, putting the banking giant a step closer to putting the countrywide mortgage shenanigans of the 2000s to rest.
Economy Watch: December Job Creation Middling
The Bureau of Labor Statistics said on Friday that the U.S. economy created 155,000 jobs in December, with healthcare, food services, construction and manufacturing all adding positions.
Americans Continue to Expect Growth in Home Prices
Consumer confidence in the housing sector grew last month, marked by continued positive attitudes toward home price, rental price, and mortgage rate expectations, according to Fannie Mae’s December National Housing Survey results.
AMF Nears Completion on Gen Y Housing Concept
AMF Development LLC has topped out the first of a planned series of developments it calls Young Urban Communities.
TODAY’S DEALS: Crescent Resources Begins $67M Atlanta Development
Crescent Resources breaks ground in Atlanta’s Terminus development; Continental Realty Advisors sells a Phoenix asset for $50 million; and EdR announces $152 million in year-end activity.
Economy Watch: Employment Barely Growing Enough to Keep Up
The final monthly employment report of 2012, released by the Bureau of Labor Statistics on Friday, pointed to continuing tepid growth in U.S. employment.
TODAY’S DEALS: Philly Joint Venture Announces a 27-Story High Rise
Wexford Equities and Southern Land Co. announce a Philly development with a 2015 delivery; Steadfast ends 2012 with over $100 million in acquisitions; and Transwestern closed the year with Mid-Atlantic sales totaling nearly $100 million.
TODAY’S DEALS: PREI Buys Luxury Chicago Tower
Prudential Real Estate Investors completes a luxury buy in Chicago; Kennedy Wilson lands supplemental financing for one California asset, sells another; and FHL Bank San Francisco awards $18.5 million in affordable housing grants.