News
Economy Watch: IMF to Greeks: More Austerity or Else
The IMF warns of “large global spillovers” if Greece doesn’t tighten the reins on its debt; Wal-Mart fends off its Supreme Court discrimination suit; and the government files suit against J.P. Morgan Chase and Royal Bank of Scotland Group for selling bad mortgage bonds to credit unions.
RealPage OneSite Budgeting Streamlines Process for HUD Properties
Carrollton, Texas–RealPage, Inc. has introduced OneSite Budgeting for HUD properties, the latest tool for affordable housing, which streamlines yearly budgeting and form submission for HUD housing assets.
Matteson and E&S Ring Form Strategic Alliance
Culver City and Redwood City, Calif.–The Matteson Companies and E&S Ring Management Corporation have entered a long-term strategic alliance in the West.
TODAY’S DEALS: George Smith Arranges $92M in Debt, Equity Construction Loan Take-Out
George Smith Partners arranges $92 million for an L.A. community; A JV between Praedium and StarPoint acquires a 558-unit community for $79 million; and IPA brokers the sale of a 220-unit community in Southern California.
Tribeca Sells Multifamily Assets Acquired through Loan Purchase in 2009
San Francisco–Tribeca Cos. has sold nine of the 12 properties that it acquired through a loan purchase from lender UBS in late 2009, then acquired the title through foreclosure of the properties.
EaDo’s Credo: Dense, Vibrant Pedestrian-Friendliness
Capitol Oaks recently completed a 120-residence development in Houston’s East Downtown neighborhood, which has morphed into a walkable urban community.
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.