National
Economy Watch: To Taper or Not to Taper?
It’s going to be a notable week for the Federal Reserve, with a meeting of the Federal Open Market Committee slated for Tuesday and Wednesday, followed by Chairman Ben Bernanke’s last press conference in that position.
TODAY’S DEALS: Harbor Group International Sells Nashville Community
HGI completes a $57 million sale; Home Properties acquires a Nashville apartment; and NorthMarq negotiates a $4.7 million refinancing loan from a life company.
Economy Watch: Retail Sales See November Gain
U.S. retail sales edged up 0.7 percent in November compared with October, the Census Bureau reported.
TODAY’S DEALS: Beech Street Capital Closes $21.3M for D.C. Apartment Portfolio
Beech Street refinances two D.C. assets; Transwestern brokers a 180-unit sale in Colorado Springs; and NorthMarq Capital’s Raleigh office arranges two apartment acquisitions totaling $13.67 million.
Economy Watch: State, Local Tax Revenues Up
The Rockefeller Foundation reported recently that total state tax collections increased during the second quarter of 2013, the latest in a string of quarterly increases and an indication that the contraction of state government–which represented a major headwind for the entire U.S. economy during the worst of the recession–is over.
Ideal Properties Group Launches Two Brooklyn Properties
Ideal Properties Group has launched 603 Fourth in South Slope and 150 Broadway in Williamsburg, capitalizing on two of Brooklyn’s most desirable neighborhoods.
TODAY’S DEALS: MetLife to Invest in $317M UDR Tower
MetLife and UDR partner up on a San Francisco development; World Class Capital acquires a student housing asset in Texas; and CBRE Global Investors Fund acquires a Phoenix-area apartment community.
Economy Watch: Federal Budget Deal Reached
Congress, which served as a drag on the economy in 2013 with its uncertainty-generating behavior, took a small step toward more consistent policymaking in 2014–it is an election year, after all–by passing a modest budget deal.
TODAY’S DEALS: MCS Capital Acquires 1,720-Bed Student Housing Asset
A joint venture sells a student housing asset serving Virginia Tech; URS Capital Partners completes its first apartment acquisition in Florida; and Johnson Capital’s Denver office arranges a $6 million loan.
Economy Watch: Net Household Worth Highest Ever
The Federal Reserve reported that U.S. household net worth increased in the third quarter, reaching a new high of nearly $77.3 trillion in 3Q13 compared with $75.3 trillion in 2Q13.