Commercial Real Estate & Business News – December 23, 2016

Apartment investing fundamentals have strengthened for the past three quarters, Freddie Mac Multifamily said Tuesday. The GSE’s latest Apartment Investment Market Index showed positive third-quarter growth nationally, although the results were more varied in the 13 major metropolitan areas tracked by the index…»

The two nominees have vastly different resumes for their respective positions. Mnuchin has extensive experience in banking, finance and securities. Carson, on the other hand, will face a steep learning curve in getting up to speed on HUD-a massive agency that has an annual budget of more than $48 billion. Although both will first need to secure Senate confirmation, the real estate industry is already speculating on how these two individuals could influence key policies and programs…»

Tartesso is an 11,000-acre master-planned community in the Phoenix area’s westernmost suburb. In early September, Dolphin Partners of Irvine, Calif., paid $80 million for the land, making it the largest land purchase in the area since the housing market crash of 2008…»

Casa Bellisima is part of Monument Capital Management’s seventh acquisition for the firm’s Monument Opportunity Fund III, which launched last year. Capital Management’s sister company, Monument Real Estate Services, will manage the property…»

Existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.7% to a seasonally adjusted rate of 5.61 million in November. This is up from a downwardly revised 5.57 million in October, up 15.4% from last year’s 4.86 million and the highest since February 2007…»