National
Economy Watch: More Evidence That Home Price Growth is Slowing
FNC reported that its Composite 100 index was up 8 percent in June compared with the same month a year ago; the year-over-year increases for the index have been slowing since peaking in February at 9.4 percent, which was the highest rate since 2006.
D2 Demand Solutions White Paper Addresses Multifamily Email Marketing Opportunities
A recent On-Site-sponsored study released in a D2 Demand Solutions white paper suggests that multifamily operators on the regional and national level may be missing out on email marketing opportunities.
TODAY’S DEALS: Moinian Lands Construction Loan for 60-Story Manhattan Tower
The Monian Group lands construction financing for Manhattan’s largest apartment under construction; and Dougherty Funding closes a $17.3 million loan for a South Dakota assisted living facility.
Economy Watch: Fannie, Freddie Report Solid Q2
Both Fannie Mae and Freddie Mac reported their second quarter numbers: Fannie Mae reported income of $3.7 billion for the quarter, and Freddie Mac reported income of $1.9 billion.
TODAY’S DEALS: Security Properties Buys 388 Units in Mesa
Security Properties buys an Arizona community for the second time; HFF secures joint venture equity and financing for a Texas apartment portfolio; and Cohen Financial arranges $12.44 million in CMBS financing for multifamily properties in Cincinnati.
Economy Watch: Mortgage Delinquencies Continue Dropping
The delinquency rate for mortgage loans on one-to-four-unit U.S. residential properties decreased to 6.04 percent of all loans outstanding at the end of the second quarter of 2014, according to the Mortgage Bankers Association.
TODAY’S DEALS: Capital One Multifamily Provides Intercontinental with Acquisition Loans
Capital One Multifamily provides Intercontinental Real Estate with acquisition financing; a partnership between The Dolben Company and Klein Enterprises buys a Maryland asset and begins construction on its second phase; and HFF closes the $38.9 million sale of a property in Miami.
Economy Watch: U.S. Births Slightly Higher in 2013 Than ’12
The National Center for Health Statistics reported in “Births: Preliminary Data for 2013” that the number of U.S. births was 3,957,577 last year, slightly more (4,736) than during 2012.
Economy Watch: Home Price Increases Continue to Slow
Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 compared to last June, according to CoreLogic, another indication that the upward momentum of prices has slowed down.
TODAY’S DEALS: Hunt Mortgage Group Refinances Two Houston Assets
Hunt Mortgage Group (formerly Centerline) provides $12.5 million to refinance two Houston apartment assets; Walker & Dunlop structures $56 million in HUD financing for a Louisiana portfolio; and Meridian Capital arranges a $31.6 million financing with cash-out and reduced prepay penalty.