National
Economy Watch: Most States See Unemployment Drop
Forty-one states and the District of Columbia saw unemployment rate decreases in November compared with October, three states suffered increases and six states experienced no change, the Bureau of Labor Statistics reported.
TODAY’S DEALS: Equus Sells Florida Apartments to Bluerock for $14.3M
Equus Capital Partners completes a 224-unit sale; Aztec secures $9.1 for an acquisition in Pensacola, Fla.; and CareTrust REIT completes a sale-leaseback transaction in Minnesota.
TODAY’S DEALS: Offshore Investor Grabs Brooklyn Apartments for $52.2M
Studley Savills brokers a Naftali Group sale in Brooklyn; Equity Residential is happy to take a LEED asset off Vulcan’s hands in Seattle; and NorthMarq arranges $24 million for a loft property in Portland, Ore.
Economy Watch: No Real Hint of Interest Rate Increase from FOMC
Economists, pundits and other Fed-watchers had wondered, before the Federal Open Market Committee released its latest meeting minutes, exactly what would happen to two little words: “considerable time.” That is, would the central bank remove those words from its guidance about interest rates?
TODAY’S DEALS: Bullish on Jersey’s Gold Coast, Pantzer Drops $120M on Apartment Asset
Pantzer buys a 351-unit asset from Capri Capital Partners; Greystone provides Presidium with a $15.1 million bridge loan for a San Antonio buy; and Lee & Associates complete a $2.7 million sale in North Hollywood.
TODAY’S DEALS: Luxury Scottsdale Condo to Rise Thanks to $19.8M Loan
HFF arranges construction financing for Deco Communities; AFL-CIO invests $8.3 million into a massive affordable development in Queens; and NAI Capital brokers a 12-unit sale in North Hollywood.
Economy Watch: Homebuilders’ Optimism Edges Down
Following a four-point uptick last month, builder confidence in the market for newly built single-family homes fell one point in December to 57 on the National Association of Home Builders/Wells Fargo Housing Market Index.
TODAY’S DEALS: Atlanta is Hot, Boston Capital Knows It
Boston Capital buys 294 units from MTS in a JLL-brokered sale; ARA completes an 80-unit sale in Fort Worth; and NorthMarq arranges a $28.5 million refinancing for a California community.
Economy Watch: Oil Continues Precipitous Price Drop
The price of crude oil, which is an international commodity, got another downward push when the energy minister of the UAE said that OPEC isn’t going to reverse its recent decision not to cut oil production, even if oil prices go as low as $40 a barrel.