National
Economy Watch: FOMC Noncommittal on Interest Rates
The Federal Open Market Committee released its notes from its Sept. 16-17 meeting, and as usual, it purposefully offered nothing conclusive about when interest rates will rise.
Economy Watch: Number of Job Openings Jumps
There were 4.8 million U.S. job openings on the last business day of August, up from 4.6 million in July, the Bureau of Labor Statistics reported in its Job Openings and Turnover Summary (JOLTS).
Economy Watch: Mortgage Delinquencies Edge Up, Foreclosures Down
Black Knight Financial Services reported in its latest Mortgage Monitor that 5.9 percent of U.S. mortgages were delinquent in August, up from 5.64 percent in July.
TODAY’S DEALS: Clarion Partners Completes 246-Unit Sale in Fairfax, Va.
ARA brokers Clarion Partners’ sale of a 246-unit asset; and First Premier Equity completes a 132-unit acquisition in Illinois.
Economy Watch: Employment Expansion Picks Up Again in September
The number of jobs created in September rebounded—248,000 versus a 12-month average of 213,000 per month—and some sectors added jobs robustly, according to the Bureau of Labor Statistics.
TODAY’S DEALS: Grandbridge Closes $21M Acquisition Loan in Georgia
Grandbridge closes financing for a 215-unit Georgia acquisition; Capital One Multifamily Finance provides $22.6 million to refinance three skilled nursing assets in the Midwest; and NorthMarq Capital finalizes Freddie Mac transactions totaling $13.3 million.
Economy Watch: Economy Adds 248K Jobs in September
According to the Bureau of Labor Statistics, the U.S. economy created 248,000 jobs in September, well beyond the gains of the last 12 months, which have averaged 213,000 per month.
TODAY’S DEALS: Arbor Finances $128.9M in National Multifamily Deals
Arbor Commercial Funding details 14 recent transactions totaling $128.9 million; and SVN Chicago Commercial sells a 34-unit portfolio for $2.3 million.
Economy Watch: Construction Spending Edges Down in August
The Census Bureau reported that U.S. construction spending during August came in at an annualized rate of $961 billion, 0.8 percent below the July rate.
TODAY’S DEALS: Stamford Apartment Community Trades for $75.1M
A 368-unit Stamford apartment asset trades hands with help from IPA/Marcus & Millichap; Greystone provides Presidium with a $19.5 million bridge loan for two Dallas acquisitions; and Raintree Partners acquires 39 units in the San Fernando Valley.