National
Economy Watch: Cities Took it on the Chin During Recession
The Pew Charitable Trusts released a report that quantified how difficult the recession and post-recession years were for the 30 largest U.S. cities.
TODAY’S DEALS: W.P. Carey Grabs Pair of Georgia Apartment Assets for $46M
W.P. Carey-led investment group grabs 444 units in Georgia; HFF arranges financing for a 520-bed student-housing asset in California; and Red Capital provides a $3.85 million balance-sheet construction mezzanine loan.
Economy Watch: Oil Prices Slide More
The worldwide price of oil continued its fall with the international benchmark Brent crude coming in at $82.34, the lowest price in more than four years.
TODAY’S DEALS: Carmel Partners Sells Virginia Apartment Asset to Capital Investment Advisors
ARA brokers Carmel Partners’ sale of 227-units in Arlington; Marcus & Millichap brokers the $13.3 million sale of two apartments assets in Manhattan’s UES; and Capital One Bank originates a $6.4 million CMBS loan for an acquisition on Florida’s Emerald Coast.
Economy Watch: Strong Jobs Growth in Various Industries
The gains in U.S. employment in October, which totaled a net of 214,000 jobs, were fairly widespread across various industries, the Bureau of Labor Statistics reported.
TODAY’S DEALS: Berkadia Arranges $73.7M for a Georgia Apartment Acquisition
Berkadia arranges acquisition financing for a Steadfast subsidiary; Bascom and Oaktree complete another purchase; and Community Development Trust and Peak Capital Partners acquire and preserve two affordable housing properties.
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.