National
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.
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.