News
TODAY’S DEALS: Raintree Partners Acquires 270-Unit Property in Burbank for $43M
Raintree Partners aquires a 270-unit Burbank property in Burbank, Calif.; Red Capital Markets provides $19M in tax credit equity; and Oak Grove Capital recently originated $20.7 million for two seniors housing communities.
MARKET SNAPSHOT: Richmond, Va. Apartment Market Experiences Strong Demand
Richmond, Va.–During this past recession, Richmond has outperformed many other markets in the Southeast, according to Real Data’s Charles Dalton.
Economy Watch: The Shutdown Showdown
Congress bickers over a few billion dollars while the clock ticks down to unforetold consequences; banks might agree to foreclosure changes; and an appeals court confirms Enron CEO Skilling’s convictions.
‘The Accidental Economist’ with Jack Kern: Provando et Riprovando
It seems the Fed will aver to the position of maintaining the final phase of QE2, the last part of the current round of expansionary monetary policy started near the end of last year.
WEB FEATURE: Curb Appeal Slideshow
MHN spotlights properties across the country that are demonstrating elegant, innovative curb appeal.
JLL Secures South African Acquisition
London and Johannesburg–Jones Lang LaSalle announced the formation of Jones Lang LaSalle South Africa following the acquisition of one of the country’s leading corporate property service providers, Bradford McCormack & Associates.
East St. Louis Housing Authority Closes New Markets Tax Credit Deal
East St. Louis, Ill.–The East St. Louis Housing Authority has closed a complex and novel NMTC transaction that will fund the mixed-use Jazz @ Walter Circle project.
Castle Hills Master-Planned Community Honored in Dallas
Dallas–Castle Hills, a 2,500-acre master-planned community in Dallas, has won the 2011 Realtor’s Choice Community of the Year award by the Home Builders Association of Greater Dallas.
TODAY’S DEALS: Lee & Associates Closes 240-Unit Transaction in Ontario, Calif.
Lee & Associates transacts $35 million apartment sale in Ontario, Calif.; Praedium Goup and Greystar joint venture to acquire a value-add opportunity for $21M; and CBRE provides $23.7 million refinancing for Tucson, Ariz. property.
Economy Watch: OECD Optimistic about G7 Economies (except Japan)
The OECD sees private-sector investment and trade in the world’s biggest economies boosting recovery; non-manufacturing growth continues; and federal budgeting continues to be a mess.