National
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.
Economy Watch: Housing Starts Drop in November
Private housing starts in November came in at an annualized rate of 861,000 units, according to the Census Bureau. That’s 3 percent below the revised October estimate of 888,000, and adjusted for the fact that colder weather slows down housing construction.
TODAY’S DEALS: Post Brothers Completes Largest Market-Rate Philly Buy in 2012
Post Brothers acquires a Philly asset for $51 million; Berkeley Point Capital arranges a $29.1 million first mortgage to pay off an existing bridge loan; and Lee & Associates brokers a $15.6 million sale in Burbank, Calif.
Refinance Applications Fall to Lowest Level in Over a Month in Latest MBA Weekly Survey
Mortgage applications decreased 12.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 14, 2012.