National
Economy Watch: No Cliff Deal Over the Weekend
Congress came back after a short Christmas break, but as of Sunday night the solons hadn’t agreed to any plan of action to avoid the colorfully but not quite accurately named fiscal cliff.
TODAY’S DEALS: Steadfast Acquires Kentucky Property for $52.5M
Steadfast Income REIT completes a 436-unit buy; Crescent Resources begins its second student housing asset; and Macfarlane Partners acquires the last remaining vacant lot in San Francisco’s Mid-Market for $7.8 million.
Economy Watch: New Home Sales Rise in November
The Census Bureau reported on Thursday that the rate of new home sales was an annualized rate of 377,000 units in November, up from 361,000 in October.
TODAY’S DEALS: TIAA-CREF Buys Into Manhattan’s Tallest Rental
TIAA-CREF becomes the 49 percent owner of 8 Spruce Street; The Dermot Co. and AFL-CIO break ground on Manhattan’s Upper West Side; and Johnson Capital arranges a FHA 223(f) refinance loan at interest in the 2 percent range.
Economy Watch: Case-Shiller Home Price Indexes Jump
The U.S. home-price recovery seems to be a sustained one, if the latest S&P/Case-Shiller Home Price Indices are any indication.
TODAY’S DEALS: Vornado Buys Interest in 1,328-Unit Manhattan Asset
Vornado buys into a large Tribeca asset; Charles Dunn Co. completes an L.A. sale to the tune of $10.8 million; and The Sterling Group opens a luxury asset in Alabama.
Economy Watch: Personal Income, Savings Up
Even as the 2012 holiday shopping season was ending on Monday, at least one estimate said that consumers didn’t spend that much more this year than last year.
TODAY’S DEALS: CityCenter Closes Bulk Las Vegas Condo Sale
A $119 million bulk condo sale closes in Las Vegas; Ares Commercial Real Estate provides $49.6 million for a Tampa-area acquisition of two properties; and NorthMarq advances a $29.3 million Freddie Mac refinance at less than 3.5 percent interest.
Economy Watch: Existing Home Sales Spike
The National Association of Realtors said on Thursday that total existing-home sales nationwide—including completed transactions for single-family houses, townhomes, condos and co-ops—rose 5.9 percent to an annualized rate of 5.04 million units in November, compared with 4.76 million in October.
TODAY’S DEALS: Lynd, Endeavor Begin 36-Story Luxury Asset in Austin
A joint venture breaks ground on a luxury Austin asset; Oden Hughes begins a 570-unit community also in Austin; and KeyBank Real Estate provides $45.7 million in Fannie Mae and bridge loans for Atlanta properties.