CNBC’s Diana Olick joins ‘The Exchange’ to report on the rise in weekly mortgage demand. Source link
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600-Unit Miami Condo Project Sells Out Two Years Before Completion – Connect CRE
Construction is not expected to be completed until 2026, but 600 Miami Worldcenter, a 606-unit, 32-story condominium, is sold out. A joint venture between Merrimac Ventures and Aria Development Group just broke ground on 600 Miami Worldcenter, set within Downtown...
Arriba Capital Funds Loan for Florida Beachfront Hotel – Connect CRE
Arriba Capital has arranged financing for a $35.75-million ground-up construction loan for an oceanfront Residence Inn by Marriott property in Ormond Beach, FL. The property is being developed by Contender Development. Arriba’s Ryan Bosch added, “Newer upscale...
Weekly mortgage demand jumps again as interest rates fall just below 7%
A For Sale sign is posted in front of a home for sale in San Marino, California on September 6, 2023. Frederic J. Brown | AFP | Getty ImagesMortgage rates swung slightly lower last week, fueling a significant jump in mortgage demand for the second straight week. Total...
New York AG questions Trump cash reserves as $464 million judgment looms
Former U.S. President Donald Trump speaks as he arrives at a Manhattan courthouse, for the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, in New York City, U.S., October 2,...
Homebuyers need to earn 80% more than in 2020 to afford a house in this market. It’s not just due to high mortgage rates
Skynesher | E+ | Getty ImagesFactors beyond high mortgage rates are affecting housing affordability for many Americans, according to experts.Almost four years ago, a household earning $59,000 annually could afford a new mortgage without spending more than 30% of their...
Oak Row Lands $181M Construction Loan for Miami Office/Multifamily Tower – Connect CRE
Oak Row Equities closed on a $181M construction loan from Bank OZK for 2600 Biscayne Boulevard, a 41-story Class AAA office and multifamily tower in Miami’s Edgewater submarket. The transaction is one of the largest mixed-used construction loans to close in South...
Miami Condo Developer Secures $104M Financing – Connect CRE
Ytech has secured $104 million in financing for the Residences at 1428 Brickell, a 189-unit 70-story luxury residential development. The loan was facilitated by Linkvest Capital, who provided $78 million in refinancing of a first mortgage at 1428 Brickell, replacing...
Pompano Beach Retail Center Owner Takes 40% Hit – Connect CRE
Stiles Corp. bought The Shopper’s Haven retail center in Pompano Beach for $27.5 million, $22 million less than the owner paid for it. The S. Florida Business Journal reports Partridge Equity Group bought the 215,000-square-foot property in 2016 for $50 million. First...
Private Jet Operator to Open $31M S. Florida Facility – Connect CRE
Fort Lauderdale-Hollywood International Airport will soon be welcoming a new fixed-base operator. Fontainebleau Aviation plans to build a nearly 100,000-square-foot hangar, 10,000-square-foot terminal and over 25,000 square feet of office and lobby space. The S....
