National
Economy Watch: Chicago Fed Says Economy Still Growing
The Chicago Fed National Activity Index edged down to +0.12 in June from +0.16 in May, according to the Chicago Fed.
Economy Watch: Consumer Sentiment Up in June
Despite outbreaks of international brouhaha, American consumers were a little more optimistic in June than in May, though not quite as much as economists had expected.
TODAY’S DEALS: Investors Bank Maintains Strong MF Volume in 2Q14
Investors Bank maintains a strong multifamily lending pipeline during the second quarter; Marcus & Millichap brokers the sale of a 120-unit asset in Victoria, Texas; and NorthMarq negotiates a $13 million refinance.
Economy Watch: Housing Starts Slid in June
U.S. housing starts in June came in at an annualized rate of 893,000 units, according to the Census Bureau on Thursday.
TODAY’S DEALS: Waypoint Residential Buys 272 Units in Florida
IPA brokers a $25.3 million sale in Florida; HFF arranges refinancing for two Class A assets in Stafford, Texas; and RailField Realty, whose founders include former Fannie Mae multifamily head Ken Bacon, closes its first major acquisition.
Economy Watch: Beige Book Says Economy Still Growing
According to the latest Beige Book, which was released by the Federal Reserve, all 12 Federal Reserve Districts reported expanding economic activity.
TODAY’S DEALS: Berkadia Secures More Than $156M in Financing for Capital Senior Living
Berkadia Commercial Mortgage arranges $156.6 million in financing for a portfolio of 15 seniors housing properties; Walker & Dunlop structures a $70.5 million loan for a Boston-area acquisition; and EdR sells two student housing communities for a combined $29.9 million.
Economy Watch: Retail Sales Up Modestly in June
Retail sales were up 0.2 percent in June compared with May, according to the Census Bureau, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes. Total sales for the month came in at $439.9 billion, up 4.3 percent from June 2013.
TODAY’S DEALS: Pillar Originates $20.7M HUD Loan
Pillar originates a $20.7 million acquisition and rehabilitation loan for an affordable asset in Michigan; HFF arranges $8.5 million for a 244-unit community in Tampa; and Boston Capital provides capital for two LIHTC properties in North Carolina.
Economy Watch: Citi Pays Fine for Subprime Misdeeds
Citigroup agreed to pay $7 billion to settle charges levied by the U.S. Department of Justice that the banking giant routinely and brazenly securitized and sold vast numbers of bum mortgages to investors in 2006 and ’07, and knew it was doing so.