National
APARTMENT MARKET STATISTICS: November 2012
The Apartment Market Statistics section of the November 2012 issue of MHN features a range of important multifamily data. This month’s data shows, for example, Marcus & Millichap’s survey of apartment markets in the top U.S. metros.
TODAY’S DEALS: MEPT Buys Denver Asset for $90.8M
Multi-Employer Property Trust completes a Denver buy; Centerline Capital Group provides a $17.6 million loan to a community in Rochester, N.Y.; and HFF arranges $32.08 million in acquisition financing via Freddie Mac.
Economy Watch: Industrial Production Dips Due to Sandy
Even if temporary, the storm has had an outsized impact on certain aspects of the entire economy, because it hit such a densely populated and economically active part of the Eastern Seaboard. Without the storm, industrial production would have increased for the month.
Economy Watch: CPI Increases Slightly in October
The Bureau of Labor Statistics said on Thursday that the U.S. Consumer Price Index (for all items) edged up 0.1 percent in October. Over the last 12 months, the all-items index increased 2.2 percent—a fairly low rate of inflation, and in fact roughly what the Federal Reserve sees as its target rate under its dual mandate.
Freddie Mac Announces 16th Multifamily Securities Offering This Year
Freddie Mac recently announced a new offering of Structured Pass-Through Certificates, which are multifamily mortgage-backed securities.
TODAY’S DEALS: Zeckendorf Breaks Ground on $500M Condo
Zeckendorf and Global Holdings Inc. break ground on a luxury condo in Manhattan; Holliday Fenoglio Fowler arranges $9 million for an Austin student housing asset; and CBRE arranges $128,178-per-unit sale of renovated property.
TODAY’S DEALS: Decron Snaps up a California Asset
Decron completes a $70 million buy; HFF secures $54 million in bank and mortgage REIT financing for an apartment asset acquisition; and Berkeley Point Capital provides $29.6 million for a KBS Legacy Partners REIT’s acquisition.
Mortgage Delinquency and Foreclosure Rates Decreased During Third Quarter
The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally adjusted rate of 7.40 percent of all loans outstanding as of the end of the third quarter of 2012, a decrease of 18 basis points from the second quarter of 2012, and a decrease of 59 basis points from one year ago, according to the MBA National Delinquency Survey.
Economy Watch: Retail Sales See Downtick in October
U.S. retail sales declined 0.3 percent from September to October, according to the Census Bureau.
Today’s Deals: McCann Enters Nashville with 336-Unit Buy
McCann buys a 2009-built asset in Nashville, Tenn.; Beech Street closes $15.2 million for an acquisition; and Walker & Dunlop supplies a $3 million HUD-insured refinance loan.