National
In Spite of Difficulties, Virtus Still Sees Opportunity in Student Housing
While investing in student housing has recently become more difficult due to inventory and financial constraints, Virtus Real Estate Capital remains optimistic about the health of the sector, especially near tier-one schools.
TODAY’S DEALS: HFF Arranges $230M for Six-Property Multi-State Student Housing Portfolio
HFF arranges $230 million for a student housing portfolio; IPA brokers a 268-unit sale for AvalonBay; and Sperry Van Ness – Imbrie Realty completes a $5.5 million value-add transaction in Oregon.
The Chetrit Group Obtains $160M in Financing for NYC Student Housing
Meridian Capital arranges $160 million for The Chetrit Group’s refinance of a student housing property in New York that was formerly a nursing home.
Economy Watch: Residential Foreclosures Still Slowing Down
RealtyTrac reports that foreclosure filings are down 8 percent month-over-month, and DataQuick details a slow down in the SoCal home sale market.
TODAY’S DEALS: Arbor Funds a Series of Loans in the Southwest and Tennessee
Arbor Commercial Funding originates $37.5 million for properties in California, Texas and Tennessee; Centerline provides a $24 million acquisition loan for Massachusetts mid-rise; and NorthMarq Capital secures $17 million in financing that was highly sought by CMBS lenders.
Economy Watch: Yellen Says Fed Will Stay the Course
Yellen outlines a plan of continuity, though the Bureau of Labor Statistics reports that job openings are slightly down. In addition, the House votes to raise the debt ceiling with no strings attached. The Senate is likely to do the same.
SPECIAL REPORT: MBA Delivers Cautious Economic Outlook for 2014
Mortgage originations for multifamily and commercial real estate in the last quarter of 2014 reached the highest volume achieved since 2007. Multifamily financing, in particular, has returned to levels last witnessed at the peak of the market.
TODAY’S DEALS: M West Adds 248 Units to LA Portfolio
M West Holdings acquires an apartment in Torrance, Calif.; Besen & Associates brokers the sale of a Section 8 community in the Bronx; and a three-property Santa Monica apartment portfolio trades for $28.5 million.
Economy Watch: Debt Ceiling Lumbers Back Onto National Stage
The House is again working on a bill to raise the debt ceiling, and the Las Vegas housing market is showing signs of a recovery now that 72 percent of residential transactions are conventional.
Economy Watch: January Jobs Numbers Mixed, Budget Deficit Shrinks
January numbers show that construction and manufacturing jobs are hot, while professional and business services jobs are not. Also, the Congressional Budget Office reports a shrinking budget deficit.