National
TODAY’S DEALS: Berkadia Arranges $146M for First Seniors Housing Early Index Lock Deal
Berkadia closes a first-ever seniors housing Early Index Lock transaction; Investor’s Bank closes 80 deals in 1Q14 with strong multifamily business; and Cohen Financial secures $16 million in equity for a condominium development in South Florida.
Centerline Introduces Proprietary Bridge Loan Program for Pre-Stabilized Properties
Centerline Capital Group announced a new multifamily bridge loan program that will provide short-term financing for multifamily properties that have not reached stabilization.
Economy Watch: Durable Goods Another Positive for the Economy
Indicators for the U.S. economy in March have so far been coming in mixed, but on Thursday there was one more for the positive side of the ledger: durable goods orders were up 2.6 percent for the month, according to the Census Bureau.
TODAY’S DEALS: Security Properties Grabs 192-Units in Las Vegas
Security Properties enters Las Vegas with a $23 million apartment purchase; Marcus & Millichap brokers a $3.5 million rehab sale in St. Petersburg, Fla.; and Red Capital signs a $10.1 million FHA 223(f) loan with ReBuild America to preserve affordable housing.
Economy Watch: New Homes Sales Dip Unexpectedly
Sales of new single-family housing came in at an annualized rate of 384,000 units in March, according to the Census Bureau.
Apartments and the International Investor
While apartments were relatively unknown as an investment class in the 1980s, risk-return characteristics have proven solid overtime, and now everyone wants a piece of the North American multifamily market.
TODAY’S DEALS: Hayman Buys 1,002-Units in Ann Arbor
Hayman Company buys two adjacent apartment assets in Michigan; NorthMarq closes a $30 million construction loan; and HFF closes sale of, and secures financing for, AEW, Marquette’s Chicago property.
Economy Watch: Existing Home Sales Edge Down in March
The National Association of Realtors reported that total existing U.S. home sales dropped 0.2 percent to an annualized rate of 4.59 million units in March, compared with 4.6 million in February.
TODAY’S DEALS: Harbour Realty Partners Sells Oregon Asset
ARA brokers a 278-unit sale just outside Portland, Ore.; and HFF arranges financing for a mixed-use development that will serve as a focal point at The College of New Jersey.
Economy Watch: Leading Economic Indicators Spike in March
The Conference Board reported that its Leading Economic Index was up in March (and its Coincident and Lagging Indexes were up, too).