National
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.
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.