National
TODAY’S DEALS: Essex Property Trust Buys 379 Units in San Diego
Essex Property Trust completes a $121 million apartment acquisition; Kennedy Wilson and partners buy 388 rental units in a Portland suburb; and Marcus & Millichap arranges a $71.1 million sale of eight Silicon Valley redevelopment sites.
Economy Watch: Consumer Debt Sees Uptick in 3Q
Aggregate U.S. consumer debt increased by $127 billion in the third quarter of 2013, the largest increase since the first quarter of 2008, according to the New York Federal Reserve.
TODAY’S DEALS: Prudential Provides $114M for AIMCO Development in Boston
AIMCO lands a $114 million construction loan; Steadfast Income REIT makes six-property portfolio acquisition; and Johnson Capital’s Denver office arranges a $7.84 million FHA 223(a)(7) refinance.
Economy Watch: Gas Prices to Drift Lower
The U.S. Energy Information Agency predicted that the economy—consumers and businesses and anyone else concerned with driving a gas-power vehicle—is going to catch a break next year because of lower gas prices.
TODAY’S DEALS: Berkeley Point Lands $28.5M for Washington Apartment Refinance
Berkeley Point Capital refinances a community in Lakewood, Wash.; Cornerstone closes its third affordable housing fund; and IPA brokers a 220-unit sale in Dallas/Fort Worth.
Economy Watch: Oil Production, Consumption Patterns Seeing Radical Shifts
Improved extraction technology and higher prices are opening up new oil resources, but that doesn’t mean the world is on the verge of an era of oil abundance, according to the International Energy Agency’s 2013 edition of World Energy Outlook.
TODAY’S DEALS: Raia Buys a Tallahassee Apartment for $42.2M
ARA brokers a Tallahassee sale; HFF brokers the sale of 1,130 units in Chicagoland; and NorthMarq secures $17 million for a Houston-area portfolio.
Economy Watch: Some City Budgets Rearch Pre-Recessionary Levels
According to a study released by the Pew Charitable Trusts on Monday, some of the largest U.S. cities have seen their municipal budgets recover from the lows of the recession, when steep drops in tax revenue and other income cut into city coffers.
TODAY’S DEALS: Raia Buys a Tallahassee Apartment for $42.2M
ARA brokers a Tallahassee sale; Steel Castle buys a 296-unit apartment in San Antonio; and Centerline provides $4.5 million to refinance a community in Florida.
Economy Watch: October Job Report Details
The unexpectedly strong employment report for October—204,000 jobs created—spotlighted various positive employment trends for the economy.