National
Ocean Land Set to Begin Work on Fort Lauderdale Condos
Ocean Land Investments has unveiled designs for two Fort Lauderdale condo developments that recently received city approval.
TODAY’S DEALS: Wood Partners, Boston Capital JV Sell Arizona Apartment Asset
Baron Properties picks up an Arizona asset from a joint venture; NorthStar Income II originates a $39.2 million senior loan secured by a Virginia apartment; and Eastern Consolidated markets a Queens, N.Y. beachfront apartment property for $7.9 million.
TODAY’S DEALS: Natixis Provides Post Brothers with $148M for Apartment Acquisition
Natixis provides financing for a Philly acquisition and renovation; Centerline refinances a multifamily property in Oak Park, Ill.; and Eastern Union Funding arranges $8 million in construction financing in Philadelphia.
Economy Watch: Most Industries Hiring in February; Trade Deficit Drops
Most categories of employment saw some kind of net increase during February. Also, total January exports and imports resulted in a U.S. goods and services deficit of $39.1 billion, down from $42 billion in January 2013.
TODAY’S DEALS: SIR Acquires Second Phase of Indiana Development
Steadfast Income REIT picks up phase two of newly built community; a South Carolina asset trades hands for $9.3 million; and Wallace Capital provides a $1.7 million acquisition bridge loan for a 20-acre site.
Economy Watch: Moderate Job Growth; Household Net Worth Increases; Negative Residential Equity Shrinks
The modest increase in U.S. jobs continued in February, with the addition of 175,000. Household net worth increased again in the fourth quarter of 2013 to a record level. And 4 million U.S. mortgage holders returned to positive equity in 2013.
Meta Housing Corp. Developing Seniors Housing in Compton
Meta Housing Corporation details its development of Metro @ Compton Senior Apartments, a 75-unit, sustainably-designed and transit-oriented affordable multifamily community for seniors aged 55 and older.
Economy Watch: ADP Job Growth Mediocre; Beige Book Talks of Winter’s Impact
Automated Data Processing said that the U.S. private sector created 139,000 jobs in February, the third weak total in three months. Also, according to the Beige Book, most of the 12 Federal Reserve districts reported ‘modest to moderate’ expansion.
TODAY’S DEALS: Suburban Connecticut Apartment Asset Trades for $58.5M
IPA brokers a sale in Hamden, Conn.; a 130-unit asset in the Far Rockaway neighborhood of Queens trades hands; and Hybrid Capital arranges $6 million in financing for two Upper East Side residential buildings.
TODAY’S DEALS: Greystone Grabs N.C. Apartment Asset
Greystone acquires a community in Cary, N.C.; Transwestern brokers the sale of 1,652 units in Washington, D.C. and the city’s Maryland suburbs; and Largo Group of Cos. arranges a $7.7 million loan.