National
Economy Watch: Fed Mulls Tapering in the Near Future
The Federal Open Market Committee released the minutes from its Oct. 29-30 meeting, and one of the more closely watched subjects taken up in was tapering.
Economy Watch: Bernanke Defends Fed Stimulus
Probably with an eye toward his legacy, Fed Chairman Ben Bernanke spoke at the National Economists Club Annual Dinner in Washington, defending his actions as chairman and offering some reasons for the continued bond-buying program.
TODAY’S DEALS: Advenir Acquires 400 Units in North Miami
Advenir completes a $44.5 million acquisition; NorthMarq arranges $89.1 million to refinance a California portfolio; and Centerline provides a $19.5 million Fannie Mae refinance and obtains waivers for a Baltimore property in less than 60 days.
Economy Watch: Homebuilders Still Confident
Builder confidence in the market for newly built, single-family homes was unchanged in November from a downwardly revised level of 54 in October, according to the National Association of Home Builders.
TODAY’S DEALS: Avalon Bay Sells 588-Unit Apartment Asset for $210 Million
The DSF Group buys a property from AvalonBay in New Rochelle, N.Y.; Berkeley Point Capital provides $20.7 million for an Illinois apartment acquisition; and Edgewood Capital funds a $3.75 million bridge loan.
Builder Confidence Holds Steady in November, According to NAHB
Builder confidence in the market for newly built, single-family homes was unchanged in November from a downwardly revised level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index.
Economy Watch: Housing Slump’s Impact Unequal
The Census Bureau reported that the recession hit home values in more populous U.S. counties harder than smaller counties.
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.