National
Economy Watch: Home Prices Continue Their Deceleration
The latest S&P/Case-Shiller Home Price Indices, which were released on Tuesday by S&P Dow Jones Indices, show a sustained slowdown in U.S. home price increases.
Perkins Coie Closes $125M US Treasury Guaranteed Bond for CRF, CDT
Perkins Coie has announced that it has closed a $125 million U.S. Treasury guaranteed bond issue for Minneapolis-based Community Reinvestment Fund and Community Development Trust. The bond, one of three issued, will help provide low-cost capital to invest in affordable housing loans.
TODAY’S DEALS: Cityscape Residential Secures $82M for Three Midwest Developments
Cityscape Residential to build 670 units after securing financing; and Huntington Bank provides $90 million for two Pittsburgh mixed-use projects.
Economy Watch: New Home Sales Drop in July
Sales of new single-family houses in July 2014 were at an annualized rate of 412,000 units, according to the Census Bureau and HUD.
Operating Expenses Both Up, Down for Federally Subsidized Housing, Says IREM Study
According to a recent study published by IREM, operating expenses in 2013 compared with 2012 for various kinds of federally subsidized housing decreased in the case of some kinds of properties, but increased for others.
TODAY’S DEALS: Bruckal Buys 436 Units in Phoenix
Colliers brokers the sale of a Class B asset in Phoenix; Berkshire Group acquires a Class A apartment community near Boston; and Berkadia secures $20.3 million for a property in Austin.
Economy Watch: Yellen Worried About Employment, Non-Committal on Rates
The Federal Reserve has long been adept at maintaining a poker face, and Chair Janet Yellen seems to be carrying on the practice.
TODAY’S DEALS: Heitman Affiliate Buys a Class A Asset in Oregon
HFF closes a sale and $40 million loan for a Heitman affiliate in Oregon; UC Funds structures a $7.4 million bridge loan for an apartment community in Corpus Christi; and HFF secures $9.85 million for apartment building in downtown Indianapolis.
TODAY’S DEALS: 29th Street Capital Buys Value-Add Apartment in Georgia
29th Street Capital acquires a 210-unit asset in Marietta, Ga.; Bascom completes its second acquisition under its new private capital program; and Eastern Consolidated arranges a $15.5 million sale of a mixed-use portfolio.
Economy Watch: Fed Seems More Optimistic
The Federal Open Market Committee released the minutes of its July 29-30 meeting, striking a tone of mild optimism, in as much as the tone of the meeting was actually reflected by the minutes.