National
AUM Predicts Higher Natural Gas Prices will Impact Multifamily
A report published last week by AUM, prepared by that company’s chief energy office Dimitris Kapsis, notes that natural gas prices have been creeping up recently—atypical for the late summer—and posits that now is the time for major users of natural gas (such as owners of multifamily portfolio) to lock in prices.
TODAY’S DEALS: Cushman & Wakefield Arranges $82.4M in Portfolio Acquisition Capital for LCB Senior Living
Cushman & Wakefield arranged $82.4 million of acquisition financing; RADCO buys 553 units in metro Atlanta; and Greeysteel arranges an apartment transaction in Silver Spring, Md.
Economy Watch: E-Commerce Continues to Expand
The Census Bureau reported that U.S. e-commerce sales for the second quarter of 2014 were $75 billion, an increase of 4.9 percent compared with the first quarter of the year.
Economy Watch: Euro Zone Growth Stagnates in Q2
Eurostat, the statistics arm of the European Union, reported that gross domestic product in the euro zone (the 18 nations that use the common currency) neither grew nor contracted in the second quarter of 2014 compared with Q1.
TODAY’S DEALS: Miami’s Surf Club Four Seasons Lands $290M Construction Loan
HFF arranges financing for a Miami condo/hotel development via Blackstone; Berkadia provides a $56.5 million acquisition loan; and Walker & Dunlop provides $33.4 million for a student housing acquisition in Orlando, Fla.
Economy Watch: Retail Sales Flat in July
In July, American consumers took a break from an increase in retail spending.
TODAY’S DEALS: Transwestern’s Mid-Atlantic Multifamily Group Closes $185M in Sales
Transwestern’s Mid-Atlantic Multifamily Group sells six apartment communities; and NorthMarq arranges construction financing for a joint venture development in Harrison, N.J.
Economy Watch: Budget Deficit Continues Shrinking
The U.S. Department of the Treasury, in its latest Monthly Treasury Statement, said that the country ran a $94 billion deficit in July 2014, down from $97 billion during the same month a year earlier.
TODAY’S DEALS: TIAA-CREF Buys D.C. Apartment Asset from The JBG Cos. in Record Sale
TIAA-CREF buys in D.C.’s U-Street corridor; and The Praedium Group and Greystar Real Estate complete a repositioning play in Tampa/St. Petersburg, Fla.