National
Time Equities Unveils Artist-in-Residence Program for New NYC Tower
Time Equities has launched an artist-in-residence program for its 50 West development, a 64-story residential tower currently under construction in the Downtown neighborhood of Lower Manhattan.
Economy Watch: Retail Sales Grow in August
Americans had an itch to buy more in August, according to the Census Bureau.
TODAY’S DEALS: Onex, New York Life Insurance Sell 1,056-Unit Portfolio
IPA brokers sell three Midwest assets for a partnership between Onex and New York Life Insurance; a joint venture between The Kalikow Group and EYC Companies completes a sale in North Carolina; and EverBank funds a $2 million loan for the acquisition of a six-apartment property.
Economy Watch: Demand Growth for Oil Slows Worldwide
In its Oil Market Report for September, the International Energy Agency has lowered its forecast for global oil demand for the third month running.
TODAY’S DEALS: Development Site Trades Hands in Boca, 378 Units in the Works
ARA brokers a $22.3 million land sale in Boca Raton; Capital One Bank closes a $70M Fannie Mae loan; and Marcus & Millichap arranges the sale of an REO asset in Tampa.
Economy Watch: New Rules in the Works for Very Large Banks
In testimony before the Senate Banking Committee this week, Daniel Tarullo, a member of the board of governors of the Federal Reserve, said that the central bank wants to change regulations governing too-big-to-fail banks (or GSIBs, global systemically important banks, in Fed-speak).
TODAY’S DEALS: Mack-Cali, Ironstate Land $192M via NorthMarq for Jersey City Apartment Tower
NorthMarq arranges $192 million for a 763-unit development; CBRE Global Investors acquires 432 units in The Woodlands; and Everbank funds a $2 million acquisition loan for a mixed-use property in Chicago.
Economy Watch: Residential Prices Continue to Moderate
Trulia reported that asking prices nationally for residential properties rose 1 percent in August, up a bit from 0.7 percent in July.
TODAY’S DEALS: Landmark Apartment Trust Completes 342-Unit Orlando Acquisition
Landmark Apartment Trust buys a 2002-built apartment in Orlando; Chaucer Creek acquires a community in Charlotte’s ‘hippest’ neighborhood; and Colorado investor acquires a property from Fannie Mae.
Economy Watch: Consumer Credit Spikes in July
Americans borrowed more in July than in June, according to the Federal Reserve, with U.S. consumer credit increasing at an annualized rate of 9.7 percent during the month, compared with 7.1 percent in June.