National
Economy Watch: Personal Income, Expenditures Up in February
Personal income increased $47.7 billion, or 0.3 percent, in February, according to the Bureau of Economic Analysis.
TODAY’S DEALS: Bascom Buys 222 Units in Las Vegas
The Bascom Group picks up a Vegas apartment asset for $22.5 million; Greystone closes $59.3 million for a multifamily portfolio in Texas; and HAP Investments is in contract to buy a downtown site in Jersey City, N.J.
Economy Watch: Economy Expands 2.6 Percent in Q3
The Bureau of Economic Analysis reported that real U.S. gross domestic product increased at an annualized rate of 2.6 percent in the fourth quarter of 2013.
TODAY’S DEALS: Avesta Completes Austin Apartment Acquisition
Avesta Communities expands in Austin; Oak Coast and IMG acquire a Seattle-area apartment for $21.9 million; and Commercial Mortgage Capital arranges a $14.27 million loan assumption for an 55-plus seniors property.
Economy Watch: Serious Residential Delinquencies Still on Downward Path
Freddie Mac reported that its single-family serious delinquency rate dropped from 2.34 percent in January to 2.29 percent in February.
TODAY’S DEALS: Kennedy Wilson, Capri Capital Buy Suburban Seattle Apartments
An apartment in Bothell, Wash., trades for $45.8 million; Waterton Associates completes a 100-unit purchase in New Jersey; and a Hollywood micro-unit building trades for $14.75 million.
Economy Watch: Housing Price Appreciation Slows
S&P Dow Jones Indices reported that its S&P/Case-Shiller Home Price Indices were up 13.5 percent and 13.2 percent year-over-year, respectively, for its 10- and 20-city composite indexes in January.
TODAY’S DEALS: AEW Secures $35M Refinance on Hoboken Apartment Community
HFF arranges a refinancing for AEW Capital Management; NorthMarq arranges a $32 million refinance for infill apartments in San Francisco; and Beech Street closes a $7.4 million loan for a Sacramento-Area acquisition.
Economy Watch: Home Price Rises Stall, Foreclosures Slow
Black Knight Financial Services released its latest Home Price Index report, which is based on January 2014 residential real estate transactions. There was no increase nor decrease month over month. Since last year, the index increased 8 percent, a slight drop in the rate from recent months.
TODAY’S DEALS: Phoenix Realty Group Buys Connecticut Apartments
CBRE brokers a $27.5 million Connecticut apartment sale; Virtu Investments picks up an Austin apartment asset; and GFI completes the sale of a walk-up for $2.3 million in Brooklyn, N.Y.