National
TODAY’S DEALS: Kushner, KABR Land $140M from CIT for Jersey City’s Tallest Apartment Tower
CIT provides Kushner Companies and KABR with $140 million for a Jersey City tower; Madison Realty Capital Arranges $33 million for Soho Properties’ 45 Park Place; and NorthMarq negotiates $20.5 million in construction/permanent financing from the bank.
Economy Watch: Slower Jobs Expansion in August
Despite the relatively low number of jobs created in August—142,000 versus a 12-month average of 212,000 per month—some sectors continued to add jobs, according to the Bureau of Labor Statistics.
TODAY’S DEALS: Steadfast Apartment REIT Acquires Two Austin Assets
Steadfast Apartment REIT acquires 564 units in Austin; Blue Ridge Companies expands its North Carolina portfolio; and Grandbridge Real Estate Capital obtains $12.42 million in equity and a three-year senior loan for multifamily property.
Economy Watch: Job Growth Moderates in August
The U.S. economy created 142,000 jobs in August, according to the Bureau of Labor Statistics, down somewhat from the stronger gains of the last 12 months, which have averaged 212,000 per month.
TODAY’S DEALS: Clal Insurance Grabs Another Apartment in Stamford
Clal Insurance acquires a 146-unit asset in Stamford from a joint venture; Capital One Bank closes on a $31.1 million Fannie Mae loan to refinance a portfolio of Class A Los Angeles apartments; and Marcus & Millichap brokers $10.9 million sale in SoCal.
Economy Watch: Economy Still Growing, But Not Gangbusters
The Federal Reserve released the latest “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” better known as the Beige Book. According to the report, economic activity has expanded in all the 12 Federal Reserve districts since the previous book, but “none of the Districts pointed to a distinct shift in the overall pace of growth.”
TODAY’S DEALS: Levin Realty Advisors Completes 320 Unit Sale to L3C Partners
L3C Partners picks up a Class A asset in Illinois from Levin Realty Advisors; and NorthMarq Capital secures $16.9 million new construction loan for the Cookie Factory.
LEED Proven Provider: New Designation to Streamline the LEED Review Process
The Green Building Certification Institute launched LEED Proven Provider, a new designation that streamlines the LEED project review process for experienced organizations that demonstrate consistent excellence in administering LEED projects.
Economy Watch: More Evidence That Home Prices Rising More Slowly
CoreLogic reported that home prices, including distressed sales, increased 7.4 percent in July 2014 compared with the same month a year earlier.
TODAY’S DEALS: Kennedy Wilson Acquires 118 Units South of Seattle
Kennedy Wilson completes a $20.8 million acquisition in Turnwater, Wash.; Hunt Mortgage Group refinances an affordable seniors asset in Pennsylvania; and NorthMarq Capital arranges a seven-year, $22.8 million acquisition loan.