National
TODAY’S DEALS: The Bassuk Organization Closes $73.5M for NYC’s Chelsea Tower
The Bassuk Organization closes $73.5 million with TIAA-CREF for a luxury apartment community in New York; ARA arranges a 352-unit sale in Washington; and HFF brokers a $5.65 million sale, and closes a three-year, interest-only, loan for the acquisition of an apartment community.
Economy Watch: Employment Metrics Not Bad in March
The increase in U.S. jobs in March (up 192,000) was welcome news to those worried that something more deleterious than cold weather had hit the economy during the winter.
TODAY’S DEALS: Bascom Nabs 138-Unit Apartment Community in SoCal
The Bascom Group acquires a 138-unt apartment community; Charles Dunn completes a $2.7 million sale in L.A.’s Westwood submarket; and Centerline Capital arranges $4 million Fannie Mae financing for an acquisition in the Boston area.
Raleigh, N.C., Tops the List for Highest Renter Customer Satisfaction, Study Says
Raleigh, N.C., was recently ranked No.1 for online renter satisfaction according to a study released by J Turner Research, a Houston-based company that exclusively specializes in market research for the multifamily industry.
Economy Watch: Economy Creates 192K Jobs in March
The U.S. economy created 192,000 jobs in March, according to the Bureau of Labor Statistics.
TODAY’S DEALS: Becker + Becker Lands $37.2M for Connecticut Office-to-Apartments Rehab
Becker + Becker lands office-to-apartment conversion financing; Madison Realty Capital buys a three-loan portfolio secured by Brooklyn properties; and NorthMarq Capital finalizes a $24.95 million interest-only refinance.
Economy Watch: ADP Puts Private-Sector Job Creation at 191K
According to Automated Data Processing’s estimates for March, the private sector added 191,000 jobs during the month.
TODAY’S DEALS: Luxury NYC Adaptive Reuse Sells of $126M
Eastern Consolidated arranges the sale of a hotel-to-apartment conversion in New York; Berkadia originates $12 million for a Seattle community; and Hendricks-Berkadia negotiates the sales of two Tampa communities for more than $10 million.
Economy Watch: ULI/E&Y Forecast More Optimistic Than Before
The latest semi-annual ULI/E&Y Real Estate Consensus Forecast predicts that U.S. commercial property transaction volume will reach $430 billion by 2016, exceeding the volume of 2006—the last year before the bubble popped.
TODAY’S DEALS: AFL-CIO Provides $33M for Minneapolis Construction
The AFL-CIO Housing Investment Trust provides $33 million for the construction of an apartment community; NorthMarq Capital negotiates a $34.5 million life company loan allowing for rate lock during the lease up period; and CBRE/NE arranges $16.1 million for a Massachusetts asset.