National
TODAY’S DEALS: Cushman & Wakefield Arranges Orlando Fractured Condo Sale
Cushman & Wakefield advises a Madison Capital Management affiliate on a fractured condo sale; Castle Lanterra enters Chicago with a $28.5 million, 425-unit buy; and Largo Group arranges a seven-year, $32.75 million permanent loan.
Economy Watch: Existing Homes Sales Rise in April
The National Association of Realtors reported that total existing-home sales rose 1.3 percent in April to an annualized rate of 4.65 million units, compared with 4.59 million units in March.
TODAY’S DEALS: Resource Real Estate Buys Two Atlanta Apartment Assets
Resource Real Estate Opportunity REIT grabs 359 units in Atlanta; Aragon Holdings acquires a two-property portfolio in Denver; and NorthMarq Capital arranges a $20.5 million Freddie Mac refinancing loan.
Economy Watch: FOMC Mulls Monetary Policy Normalization
Monetary policy hasn’t been normal for quite a while now, and investors, economists and other observers have been wondering out loud when that’s going to change.
TODAY’S DEALS: Newly Completed Austin Community Trades Hands
Oden Hughes sells a 2013-built asset in Austin; TD Bank funds a $17.3 million loan for the acquisition of apartment units; abd Boston Capital invests in a Texas LIHTC development.
Economy Watch: Negative Equity Continues to Drop
Zillow has released its latest Negative Equity Report, which says that the national negative equity rate was 18.8 percent in the first quarter of 2014 (that is, the percentage of mortgaged owner-occupied homes with negative equity).
TODAY’S DEALS: NorthMarq Refinances San Diego Apartment Asset
NorthMarq arranges a $52 million refinancing in San Diego; ARA brokers a Texas sale to a Montana buyer; and Dominium acquires an affordable housing community in Florida.
Economy Watch: E-Commerce Retail Continues to Expand
The Census Bureau reported that U.S. e-commerce retail sales for the first quarter of 2014, adjusted for seasonal variation, but not for price changes, was $71.2 billion, an increase of 2.8 percent compared with the fourth quarter of 2013.
TODAY’S DEALS: Hamilton Zanze Sells 292-Units in Colorado Springs
ARA brokers a $40.5 million sale in Colorado; HFF arranges construction financing and joint venture equity for a mixed-use office and residential development in Houston; and Walker & Dunlop provides a three-year, cash-out, bridge loan for an assisted living facility.
Johnson-Crapo Housing Finance Reform Legislation Advances
The National Multifamily Housing Council and National Apartment Association have issued a joint statement from NMHC senior vice president of government affairs Cindy Chetti, hailing the Senate Banking Committee’s passage of housing finance reform legislation.