News
Economy Watch: Leading Economic Indicators See Uptick
The Conference Board’s Leading Economic Index registered a bump up in May, but consumer sentiment dropped in early June. And large numbers of corruption charges are moving through Chinese courts.
CMBS Standards Loosen in the CRE World
At CRE Finance Council’s June convention held in New York last week, some financiers were saying that CMBS standards are already slipping, very quickly.
Morgan Stanley and National Equity Fund Create $100M Natural Disaster Fund
The Rebuilding Local Economies Fund is designed to support economic recovery in 13 States by accelerating rebuilding and creating jobs.
NMHC: U.S. Housing Policy Must Be Rebalanced
Attendees at an NMHC mid-year meeting agree that the government needs to adopt a new housing policy that is more supportive of the expanding population of renters.
TODAY’S DEALS: Bascom, Carlyle Acquire 840-Unit Portfolio for $31.7M
Bascom and Carlyle pick up an 840-unit portfolio for $31.7 million in Denver; Trion Properties acquires a distressed 20-unit property in Los Angeles; and HFF arranges a $4.48 million Fannie Mae acquisition loan for a value-add project.
Solar Power System Completed at San Diego Affordable Housing Property
San Diego–Community HousingWorks and HelioPower have completed a Multifamily Affordable Solar Housing project at Las Serenas, an affordable housing property in San Diego.
Economy Watch: Housing Starts See Surprising Uptick in May
The homebuilding industry saw a break in the clouds in May; banks can’t keep up with the foreclosure process; and last week had fewer jobless claims than the week before.
Crawford Promoted to Apartment Finder VP of National Partnerships
Lawrenceville, Ga.—Multifamily integrated media platform Apartment Finder has promoted Patty Crawford to vice president of national partnerships.
Restarted Sterling at Silverleaf to Include Upscale Condos
Scottsdale, Ariz.–When Sterling at Silverleaf returns to the market, it will feature 16 villas, 12 “custom estates” and 180 upscale condos.
TODAY’S DEALS: HomeStreet Arranges $35M for Seattle Mixed-Use Project
HomeStreet Capital arranges $35 million for a mixed-used building in Seattle; Beech Street Capital provides a $10.4 million loan for a 274-unit community in Baltimore; and Eastern Consolidated oversees a $17 million sale of bank-owned properties.