National
TODAY’S DEALS: Kennedy Wilson Expands with Condo-Quality Apartment Acquisition
Kennedy Wilson completes a $47 million purchase with value-add intentions; Greystar nabs a 200-unit community in Quincy, Mass.; and a national real estate investor purchases a property for $30 million in an online auction.
Economy Watch: Real Estate’s Part of the GDP
After releasing the 30,000-foot view of U.S. economic growth for each quarter, the Bureau of Economic Analysis releases a load of detail the next day, which in this case was Thursday. The underlying details include real estate data that breaks down total spending on most property types, as a percentage of GDP.
Economy Watch: U.S. Economy Turns in Weak First Quarter
As expected—since a number of economic indicators have been pointing that way—the U.S. economy didn’t grow much during the first quarter of 2015, according to the Bureau of Economic Analysis.
TODAY’S DEALS: RFR and Vanke Land $360M for Manhattan Condo
HFF sources $360 million for a Manhattan condo development from the Industrial and Commercial Bank of China; Walker & Dunlop closes a $152 million loan portfolio within 48 days; and Greystone arranges financing for a Strategic Properties acquisition in Illinois.
Economy Watch: Housing Sees Modest Price Increases
The latest Case-Shiller indexes are out, and they point to smallish increases in the prices of houses nationwide.
TODAY’S DEALS: Grosvenor Closes $35.5M for Two San Francisco Developments
DM Development lands $35.5 million for two San Francisco projects; Greysteel closes a 104-unit sale in Maryland; and Equicap arranges a $8.5 million bridge loan to replace a construction loan for a condo conversion in New York.
The Finch Group Opens Cleveland Apartments
Innova, an apartment development by The Finch Group, has opened. The property includes 177 apartments within a 400,000 square-foot “all-inclusive” pedestrian-friendly site.
TODAY’S DEALS: Greystone Closes $96M CMBS Loan for Portfolio Acquisition
A 1,856-unit portfolio in Raleigh, N.C., & Dallas/Forth Worth trades hands; Capital One Multifamily Finance refinances a Sacramento apartment asset; and Berkeley Point Capital helps cut a borrower’s refinance interest rate by 50 percent.
Economy Watch: Economy Benefiting from Home Sales
What’s good in residential real estate is usually good for commercial real estate (eventually), and the best thing that can happen on the residential side these days are higher sales that don’t feed another bubble.
TODAY’S DEALS: NorthMarq Closes Texas Construction Loan
NorthMarq arranges $10.5 million for a Texas asset; Berkeley Point Capital refinances an assisted living property in Portland, Ore.; and Stepp Commercial completes a $2.5 million sale in Long Beach, Calif.