National
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.
Long Island City Condos Sell Out in Less Than Year
The Bindery, a condo development by NY Lions Group and Craig Axelrod at 47-34 11th St. in the Long Island City submarket of Queens, has completely sold out.
Novare, Batson-Cook and Grubb Proceed on Charlotte’s SkyHouse Uptown
A partnership is moving forward with a 24-story luxury tower in Charlotte’s Fourth Ward neighborhood. The asset is the 11th developed under the SkyHouse brand.
TODAY’S DEALS: Grubb Properties Sells a Charlotte Mid-Rise
A Charlotte mid-rise trades for $31.2 million; Oak Grove Capital closes $17.9 million for three affordable acquisitions/rehabs; and BMC capital provides a $930,000 five-year bank loan.
Crowdfunding for LA Apartments Completed
Realty Mogul completes crowdfunding for the acquisition of a group of multifamily properties in Los Angeles. The buildings total 141 apartment units in the Baldwin Hills neighborhood.