National
Economy Watch: How Strong is Employment Among Millennials?
The April Bureau of Labor Statistics employment report was generally good news, with a net gain of 223,000 jobs and an unemployment rate of 5.4 percent, the lowest that metric has been in the last seven years, since the onset months of the recession.
TODAY’S DEALS: RADCO Completes Third 2015 Buy with Clearwater Apartments
The RADCO Cos. drops $34.2 million on a Florida asset; OpenPath kicks off a value-add play with an acquisition in Colorado; and Quantum Capital arranges a $33 million refinancing.
Evictions at Lowest Level Since ‘09
According to a new analysis by TransUnion SmartMove, the number of apartment evictions in 2014 was the lowest in any year since 2009.
TODAY’S DEALS: Hamilton Zanze Grabs Fifth Community in Portland MSA
Hamilton Zanze acquires a 210-unit asset for $22 million; Federal Capital Partners provides Kane Realty Corp. with mezzanine financing for a Raleigh, N.C., development; and a Detroit apartment property sells for $2.5 million.
TODAY’S DEALS: Equity Residential Drops $130.2M on Boston Asset
CBRE/New England brokers a Gerding Edlen sale in Boston; Berkadia brokers the sale of a California multifamily property for more than $55.5 million; and Oakwood Worldwide grabs Raleigh corporate apartments.
Economy Watch: Will the Economy’s Continuing Slow Growth Affect Real Estate Development?
Now that a crummy first quarter, at least in terms of U.S. economic growth, has been verified by the preliminary GDP numbers (up a meager 0.2 percent), attention turns to the second quarter.
TODAY’S DEALS: Portland Micro Unit Asset Lands Mezz Loan
Pembrook Capital Management closes a $6.3 million mezzanine loan; HFF secures $41 million for apartments adjacent to Disney World; and The RADCO Companies acquires an apartment community for $31.2 million.
Economy Watch: CRE Benefits from Easier Money
Among all the other metrics the Federal Reserve tracks, each quarter it publishes the “Senior Loan Officer Opinion Survey on Bank Lending Practices.” In the case of the April 2015 survey for Q1, the central bank summarized responses from 76 domestic banks and 23 U.S. branches and agencies of foreign banks.
Economy Watch: Construction Spending Continues to Drop Because of Energy
U.S. construction spending continued on a downward trajectory in March.