Homebuilders’ pessimistic outlook improved slightly this month, but it remains dim amid falling home prices and a weak pace of construction. The National Association of Home Builders said Tuesday that its index of industry sentiment for March improved slightly to 17. That’s the first gain in five months, after four straight readings of 16. Any […]
Dim Homebuilder Outlook Improves Slightly Read More »
Toll Brothers Inc., the largest U.S. luxury-home builder, and Deutsche Bank AG bought non-performing real estate loans with a face value of about $200 million, the companies said in a statement today. The portfolio, purchased from an unnamed financial institution, consists of 83 loans that are mainly for the acquisition, development and construction of residential
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Miami-based City National Bank of Florida has agreed to forgive $10 million in debt on Davie’s 595 Corporate Park of Commerce as part of a mortgage modification deal with the developers. The 42-acre project had been hit with a foreclosure lawsuit in January, which developers Robert Lechter, a principal with Hollywood-based REMS Group, and J.
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