National
Economy Watch: FHFA Not Focusing on GSE Wind Down
The new director of the Federal Housing Finance Agency, Melvin L. Watt, used his first major speech at the Brookings Institution to emphasize a change in focus for his agency, which is the conservator of Fannie Mae and Freddie Mac, currently the linchpins of the nation’s residential property finance.
TODAY’S DEALS: KRON-TV HQ Sale Paves Way for San Fran Development
NKFC&CCl brokers the sale of KRON Channel 4’s headquarters in San Francisco; a Los Angeles apartment trades hands for $10 million; and Centerline Capital completes a $2 million refinancing in Georgia.
Economy Watch: Retail Sales Eke Out Small April Gain
Retail sales barely budged in April compared with March, according to the Census Bureau.
TODAY’S DEALS: Walker & Dunlop Provides $278M Credit Facility
Walker & Dunlop secures a credit Facility for Milestone Apartment REIT; Greystone acquires a 228-unit asset in North Carolina; and Oak Grove Capital closes 13 loans totaling $123.4 million over the past month.
Economy Watch: Federal Deficit Continues to Drop
The federal government’s budget deficit dropped sharply in the first seven months of fiscal 2014 (beginning Oct. 1, 2013), according to a report by the U.S. Department of the Treasury.
TODAY’S DEALS: Resource Real Estate Acquires Plano Apartment Asset
Resource Real Estate Opportunity REIT Inc. buys a 142-unit community in Plano, Texas; Cushman & Wakefield arranges $19.6M in acquisition capital for LCB Senior Living; and IPA brokers the sale of a 60-unit property in Culver City, Calif.
Economy Watch: Americans Remain Pessimistic About Economy
The Pew Research Center reported that despite falling unemployment and various other improving economic metrics, a recent survey of Americans found that most people are still relatively pessimistic about the state of the U.S. economy, a belief that tends to depress consumer activity.
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.