National
TODAY’S DEALS: Cassidy Turley Arranges JBG’s $222M Sale of Newly Constructed Multifamily Properties
Cassidy Turley announced that it represented The JBG Cos. in the sale of the newly completed Sedona and Slate, located in Arlington, Va.; Cushman & Wakefield arranges the sale of 163 condos in Florida; and Arc Capital acquires a 139-unit apartment community in Austin.
Economy Watch: GSE Delinquencies Continue to Drop
Fannie Mae reported that its single-family serious delinquency rate declined from 2.55 percent in September to 2.48 percent in October.
TODAY’S DEALS: Holland Partner Group, Heitman Affiliate Buy an Oregon Apartment Asset
HFF brokers the joint venture sale of an apartment community in Beaverton, Ore.; Canyon Capital Realty Advisors provides $42 million in construction financing to Griffin Real Estate Management; and Beech Street Capital funds a $13.4 million Fannie Mae refinance loan.
Economy Watch: U.S. Housing Price Rise Slows
S&P Dow Jones Indices reported the latest S&P/Case-Shiller Home Price Indices, which cover the three months ending in September.
TODAY’S DEALS: Starlight Multi-Family Fund Buys a Texas Portfolio
A Canadian fund makes its first investment with a Texas acquisition; Militello Capital and QR Capital purchase two communities in Georgia; and Canyon funds a $42 million senior construction loan.
Economy Watch: Pending Home Sales Dip
Ahead of housing permit numbers from the government, which is a forward-looking indicator for the housing market, the National Association of Realtors reported that its forward-looking Pending Home Sales Index, which is based on contracts signed but not closed, dropped.
TODAY’S DEALS: Meridian Capital Arranges $250M in Refinancing for New York Property
Meridian Capital Group LLC negotiated a $250 million mortgage for the refinancing of the Aire multifamily property; a Mack-Cali subsidiary buys a 159-unit asset from Landmark Cos.; and IPA arranges a 1,176-unit sale in suburban Philadelphia.
Data Shows Americans Moving Less; What This Means for Multifamily
Americans are on the move, though not as much as in recent years. According to the U.S. Census Bureau, 35.9 million U.S. residents (or 11.7 percent) moved between 2012 and 2013. This shows a decline from the 12 percent of Americans who moved in 2012.
Economy Watch: Majority of States See Unemployment Rate Drops
The Bureau of Labor Statistics reported that 28 states had unemployment rate decreases in October compared with September, while 11 states and the District of Columbia saw increases and 11 states experienced no change.
Economy Watch: Negative Equity Nose Dives
Zillow reported that one of the persistent hangovers of the housing bubble and the recession that followed, namely negative residential equity, dropped in the third quarter of 2012 to 21 percent of all homeowners with a mortgage.