National
Economy Watch: GDP Barely Rises in Q1
Real gross domestic product in the United States increased at an annualized rate of 0.1 percent in the first quarter of 2014, according to the “advance” estimate released by the Bureau of Economic Analysis.
TODAY’S DEALS: Abacus Capital Picks Up Chicago Asset from AEW JV
HFF arranges a 100-unit sale in Chicago; Boston Capital invests in two LIHTC developments in Boulder, Colo.; and Hendricks-Berkadia negotiates the sale of an apartment community in Tampa, Fla.
Economy Watch: Home Prices Still Rising, But Not as Fast
S&P Dow Jones Indices reported that the Case-Shiller Home Price Indices, which it publishes, showed that home prices are still going up on an annual basis, though not as much as they have been.
TODAY’S DEALS: Embrey Partners Sells 263 Units in Colorado
Inland Real Estate Group buys a Colorado asset from Embrey Partners; KeyBank provides $28.7 million for a development in North Carolina; and NorthMarq Capital closes on a $10.8 million refinance that won favorable pricing.
Axiometrics Report Highlights Apartment Rent Growth in March
The national apartment market experienced a slight uptick in annual effective rent growth during March 2014, increasing at a rate of 3.1 percent, according to the monthly report by Axiometrics.
Economy Watch: Pending Home Sales See Uptick
Housing numbers have been trending negative lately, at least in terms of sales (prices are still going up), but the National Association of Realtors reported that after months of going nowhere, its pending home sales rose in March.
TODAY’S DEALS: Toronto-Based Starlight Acquires Houston Apartments
Starlight U.S. Multi-Family Core Fund acquires a 257-unit asset in Houston; RED Capital Group provides $10.1 for the acquisition and rehab of a low income seniors housing asset; and Carroll Organization adds a multifamily asset to its Florida portfolio.
Economy Watch: Consumers Cheer Up
U.S. consumer sentiment is up, with the mid-April reading coming in at 82.6, according to the Reuters/University of Michigan’s consumer sentiment index.
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.