National
Economy Watch: 4Q GDP Growth Revised Downward; Fewer Homeowners Under Water; Pending Home Sales Down
Revised GDP number shows annualized rate of 2.4 percent for the fourth quarter of 2013. Also, Zillow data shows fewer homeowners under water, while the NAR reports pending home sales are down.
TODAY’S DEALS: NorthMarq Arranges $34.4M for Three Multifamily Properties
NorthMarq closes separate loans for properties in Texas and Georgia; Centerline refinances a 188-unit community in Georgia; and Colliers arranges the sale of a multifamily property in Encinitas, Calif.
Bascom Closes Its Second Apartment-Investment Fund
The Bascom Group closes its second fully discretionary real estate investment fund, which provides up to $300 million of buying power.
Zocalo Sells Denver’s Cadence Union Station Apartments
An Invesco client picks up a Denver apartment asset from Zocalo Community Development and Principal Real Estate Investors.
Economy Watch: Mortgage Delinquencies Dropping; Tapering Will Continue; 4Q GDP Numbers Released
The U.S. mortgage delinquency rate decreased more than 10 percent year over year. Also, Janet Yellen testifies before the Senate Banking Committee, hinting that the tapering will continue unless ‘significant’ change in outlook takes place.
TODAY’S DEALS: Aztec Group Secures $7.5M for Fractured Condo
Aztec Group provides financing for 144 units in Fort Lauderdale; Cohen Financial secures $37 million for five properties; and Marcus & Millichap brokers a 259-unit sale in South Carolina.
RFR, Vanke Break Ground on Luxury Condo Tower in Manhattan
RFR Holding and Vanke, China’s largest residential developer, broke ground Tuesday on 610 Lexington Ave., a luxury residential condominium on East 53rd Street in Midtown Manhattan.
Quilvest, Greystone Join Forces to Buy Apartment Properties
Greystone and Quilvest & Partners have formed a joint venture to acquire U.S. multifamily assets. According to the partners, the initial target markets will be in the Southeast, mid-Atlantic and Midwest.
TODAY’S DEALS: Grandbridge Closes $33.3M for South Carolina Acquisition
Grandbridge closes financing for a 325-unit acquisition in South Carolina; Berkadia originates $9.1 million for a Washington buy; and NorthMarq Capital secures a 12-year bank refinance loan for affordable housing in Hoboken.
TODAY’S DEALS: The Connor Group Acquires a 194-Unit Asset
Klingbeil Capital sells an Ohio apartment to The Connor Group; Marcus & Millichap brokers a $10.8 million student housing sale in California; and Centerline Capital Group secures $3.8 million in acquisition funding for a multifamily property.