National
TODAY’S DEALS: NorthMarq Capital Arranges $58M Bond Financing for Student Housing Located on University of Central Florida
NorthMarq Capital arranges financing for the seven-story NorthView Student Housing; a joint venture closes a construction loan for a luxury condo in Miami; and True North Capital Partners affiliate buys two properties in Massachusetts.
Economy Watch: Seniors Housing Builders More Optimistic
The state of the housing market’s been getting some worried attention lately but the National Association of Home Builders offered a small but hopeful note.
Economy Watch: More Purchase Mortgages Than Refi, First Time in Years
The Mortgage Bankers Association reports the rate of U.S. mortgage applications each week, and it goes up and down according to the vagaries of the economy and interest rates.
TODAY’S DEALS: Meridian Capital Arranges $58.6M in Acquisition Financing for Hi-Rise in New York on Behalf of Carmel Partners
Meridian Capital arranges a $58.6 million seven-year mortgage provided by a regional balance sheet lender; Miller-Valentine lands $12.8 million for an affordable Georgia development; and Champion completes its three-phase acquisition of a 304-unit property in Ohio.
Economy Watch: Investment in Real Estate Still Lags
The Bureau of Economic Analysis released the real estate-related components of the government’s latest estimate for U.S. GDP growth.
TODAY’S DEALS: Atlanta Seniors Housing Sells for $83.5M
Cassidy Turley arranges a seniors housing sale; ARA brokers the $37.3 million sale of a multifamily asset to Passco Companies; and CBRE/New England recapitalizes a LEED-Silver certified apartment in Massachusetts.
Economy Watch: Number of Underwater Mortgages Drops
Black Knight (formerly LPS) released its Mortgage Monitor report, reporting that 5.52 percent of U.S. residential mortgages were delinquent for the month, down from 5.97 percent in February (more than 30 days late, but not in foreclosure).
TODAY’S DEALS: Lincoln Completes Largest Texas M-F Sale of 2014
ARA brokers Lincoln Property Co.’s sale of a 784-unit asset in Irving, Texas; NorthMarq Capital completes a $20.5 million refinance for a San Francisco property; and Dougherty Mortgage closes $5.5 million for an affordable asset in St. Paul, Minn.
Economy Watch: April Job Increases Broad-Based
Recent employment numbers came in better than expected, posting the largest employment rise in about two years, though it isn’t clear yet whether the increase is a one-off surge or the start of a longer-term pattern of healthy job creation—something that’s been a long time in coming
Economy Watch: Construction Spending Rises in March
The Census Bureau reported that construction spending during March was at an annualized rate of $942.5 billion, or 0.2 percent above the revised February rate. The March 2014 figure is 8.4 percent above the March 2013’s annualized rate of $869.2 billion.