National
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.
Economy Watch: Shadow Residential Inventory Declining
CoreLogic said that the residential shadow inventory as of October 2012 fell to 2.3 million units, which it calculates represents a supply of seven months.
TODAY’S DEALS: Elco Landmark, Timbercreek JV Acquires 1,380-Unit Portfolio
Elco, Timbercreek complete a four-property JV buy; and The RADCO Cos. completes seven Georgia purchases in the past two weeks.
Economy Watch: Fiscal Cliff Bill Passes Congress
In an exceedingly rare flurry of activity on a federal holiday (namely New Year’s Day 2013), Congress acted to forestall the fiscal cliff.
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.