National
Economy Watch: Seniors Housing Builders More Optimistic
Builder confidence in the seniors housing market was up again in the third quarter, according to the latest survey by the National Association of Home Builders.
TODAY’S DEALS: Northland Acquires the Largest Apartment Community in Austin
Northland Investment Corp. buys 1,072 units in Austin; Charles Dunn Co. completes a $15.1 million sale in Los Angeles; and RED Capital provides a $16.5 million equity bridge loan that enables later Low Income Housing Tax Credit equity pay-in to reduce costs.
Economy Watch: ADP Says 230K Jobs Added in October
U.S. private-sector employment increased by 230,000 jobs in October, according to the latest ADP National Employment Report.
TODAY’S DEALS: Two Fort Myers Assets Trade for $19.3 million
Marcus & Millichap sells two communities in Florida; Transwestern brokers a 210-unit sale in Colorado Springs; and Capital One Multifamily Finance closes a $19.5 million Fannie Mae loan.
Economy Watch: Home Price Appreciation Even Slower
CoreLogic reported that home prices nationwide, including distressed sales, increased 5.6 percent in September compared to the same month last year.
TODAY’S DEALS: Cornerstone Completes Phoenix Disposition
IPA brokers Cornerstone’s sale of a 240-unit asset in Phoenix; URS Capital Partners buys an Ohio apartment community; and NorthMarq Capital negotiates $14 million in acquisition financing.
Economy Watch: Construction Spending Drops in September
The Census Bureau reported that construction spending during September 2014 came in at an annualized rate of $950.9 billion, a drop of 0.4 percent compared with August.
TODAY’S DEALS: CBRE Acquires Portland Apartments from Capri Capital
ARA brokers a $54.1 million Portland sale; Equus completes the disposition of a 1,100-unit portfolio in Atlanta; and Capital Fund Services sources financing to preserve affordable housing stock in Indiana.
Economy Watch: Personal Income Edges Up
U.S. personal income increased $22.7 billion, or 0.2 percent in September, according to the Bureau of Economic Analysis on Friday. During the same period, personal consumption expenditures (PCE)—people out-spending their personal income—decreased $19 billion, or also 0.2 percent.
TODAY’S DEALS: PCCP Provides Ritchie Group with $56.5M for Stalled Utah Condo
The Ritchie Group lands $56.5 million to build out a stalled condo; Colliers completes a $6.3 million sale in Arizona; and Greystone provides a $11.7 million bridge loan for an affordable community in California.