Regions
South African Developer Secures Financing for Retail and Residential Projects in Pretoria
Nedbank Corporate Property Finance, a Durban-based financial organization, has reportedly provided a Pretoria, South Africa, developer with crucial financing that will be used in the development of two properties.
Baker & McKenzie Advise on Starhill’s A$415M Australian Hotel Portfolio Purchase
Starhill REIT, a listed Malaysian REIT, has recently closed on an A$415 million acquisition of three premier Australian hotel properties: Sydney Harbour Marriott Hotel, Brisbane Marriott Hotel and Melbourne Marriott Hotel.
ULC Preserves 100 Workforce Homes in Lakewood, Colo.
The Urban Land Conservancy has acquired a 100-unit rental property in Lakewood, Colo., located at the Wadsworth Light Rail Station on the West Corridor of FasTracks to preserve workforce housing near public transportation.
MARKET SNAPSHOT: Vacancy in San Diego Remains Flat as Hiring Picks up Pace
After witnessing a net loss of 3,800 positions last year, employment in San Diego has seen a resurgence over the last few quarters, with payrolls expanding by 7,700 workers in the third quarter of 2012 alone.
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.
Groundbreaking Ceremonies Herald Start of Old Colony’s Phase Two
Groundbreaking ceremonies were recently held to mark the construction start on Phase Two of The Homes at Old Colony Redevelopment Project in South Boston.
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.
Economy Watch: Homebuilders Feeling a Little More Optimistic
The National Association of Home Builders reported that builder confidence in the market for new single-family homes rose for an eighth consecutive month in December to 47 on the National Association of Home Builders/Wells Fargo Housing Market Index.
Picerne Military Housing Awarded $72M Public-Private Partnership Development with the U.S. Army
Picerne Military Housing recently closed on a $72 million public-private partnership deal on Reece Crossings at Fort Meade in Maryland.