National
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.
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.