National
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.
TODAY’S DEALS: Alliance Residential Buys 629-Unit Asset in Phoenix
Alliance Residential completes a $50 million buy; Beech Street Capital closes a $15.9 refinance for a 99-unit seniors housing asset in Washington; and NorthMarq arranges a $22.1 million mortgage with an interest-only feature.
TODAY’S DEALS: NorthMarq Arranges $63.9M Fannie Mae Loan with Prepayment Reduction
NorthMarq arranges a $63.9 million loan through its affiliate AmeriSphere Multifamily Finance; Venture West arranges $20.2 million in acquisition loans; and Vitus Group buys a Section 8 asset in Portland.
Economy Watch: Housing Starts Spike
The Census Bureau reported that private housing starts in December came in at an annualized rate of 954,000 units. That’s 12.1 percent more than the revised November total of 851,000, and a whopping 36.9 percent above the rate of 697,000 in December 2011.