National
Economy Watch: Retail Sales Up in November
According to the Census Bureau on Thursday, U.S. retail sales for November—adjusted for seasonal variation and holiday and trading-day differences, but not for price changes—increased 0.3 percent month-over-month.
Economy Watch: FOMC Sets Stimulus Goals
The Federal Open Market Committee met on Wednesday and, among other things, promised to keep the federal funds rate at 0 percent to 0.25 percent, as it has been since the onset of the Great Recession.
TODAY’S DEALS: Inland Buys Two Student Housing Assets for $94.6M
Inland American Communities acquires two student housing assets; Elco buys four properties from Equity Residential; and Alliant Capital completes a $5.98 million refinance loan at 3.48 percent rate.
TODAY’S DEALS: Steadfast Buys Three Communities for $68M
Steadfast Income REIT acquires three assets for $68 million; a Phoenix asset trades for $30.9 million; and NorthMarq Capital arranges a $24 million Fannie Mae mortgage.
Mortgage Rates Drop to New Lows in Latest MBA Weekly Survey
Mortgage applications increased 6.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending December 7, 2012.
Economy Watch: Job Openings Up
The Bureau of Labor Statistics, in its latest Job Openings and Labor Turnover Summery reported that the number of job openings in October was 3.7 million, basically the same as in September.
Today’s Deals: Centerline Provides $55M Bridge Loan for Oakland Asset
Centerline provides a $55 million bridge loan to an Oakland asset; a joint venture between Wood Partners and an institutional investor completes a disposition; and GFI sells a Brooklyn apartment building for $1.3 million.
Commercial and Multifamily Mortgage Debt Outstanding Increases for Fourth Straight Quarter
The level of commercial/multifamily mortgage debt outstanding increased by $6.6 billion, or 0.3 percent, in the third quarter of 2012, as three of the four major investor groups increased their holdings, according to the Mortgage Bankers Association.
Economy Watch: Employment Index Slips
The Conference Board reported that its Employment Trends Index decreased slightly in November, making the fourth monthly drop this year.
TODAY’S DEALS: Chestnut Hill Acquires two Mass. Assets
Chestnut Hill Realty buys 581 units; Seagate Colorado Partners buys a 288-unit community in Colorado Springs; and Centerline Capital provides a $28.9 million Fannie Mae loan to refinance a luxury active-adult apartment property.