National
Economy Watch: Lenders Loosening Lending Standards for Some Loans
The Federal Reserve said in its July 2014 Senior Loan Officer Opinion Survey on Bank Lending Practices that such practices are being loosened, but not quite for every kind of loan.
TODAY’S DEALS: Argyle Residential, Civitas JV Buy San Antonio Development Site
A joint venture grabs 3.7 acres for a San Antonio apartment development; Equus Capital acquires three apartment communities in Central Florida; and Bernard Financial arranges a $2.85 million loan for single-story properties.
Economy Watch: July Jobs Gain Healthy, Broad-Based
Jobs gains in July, while not quite as robust as in June, were nevertheless broad-based. Professional and business services added 47,000 jobs during the month, including gains in architectural and engineering services.
TODAY’S DEALS: Grosvenor Americas Buys Fairfax Apartments for $108.2M
Grosvenor completes its first apartment purchase in the D.C. area; and Morgan Properties, Core RE Capital acquire 700 units in Maryland.
Economy Watch: Economy Adds 209K Jobs in July
The U.S. economy added 209,000 jobs in July, according to the Bureau of Labor Statistics.
TODAY’S DEALS: Bascom, Oaktree JV Completes 296-Unit Purchase in Nevada
A Bacom, Oaktree venture completes its second purchase; Capital One bank closes on $30.9 million in HUD loans with Terrace Communities; and Marcus & Millichap brokers the sale of a Milwaukee apartment portfolio.
Economy Watch: GDP Surges in Q2
U.S. real gross domestic product increased at an annualized rate of 4 percent in the second quarter of 2014, according to the first estimate released by the Bureau of Economic Analysis.
TODAY’S DEALS: Colliers’ Cooke Team Brokers $168.5M Phoenix Portfolio Sale
Colliers’ Cooke Team completes the largest Phoenix multifamily portfolio sale year-to-date; Charles Dunn Company brokers a $6.9 million sale in California’s San Fernando Valley; and Besen & Associates brokers the sales of two Manhattan buildings.
Economy Watch: Case-Shiller Shows Smaller Home Price Rises
According to the latest S&P/Case-Shiller Home Price Indices, the 10-city and 20-city composite indexes were up 9.4 percent and 9.3 percent year-over-year respectively in May, down from 10.9 percent and 10.8 percent in April.
Economy Watch: Pending Home Sales Edge Down
The National Association of Realtors reported on Monday that its Pending Home Sales Index, a forward-looking indicator based on contracts inked but not closed, declined 1.1 percent to 102.7 in June from 103.8 in May, and is 7.3 percent below June 2013 (when it was 110.8).