National
Economy Watch: Federal Deficit Shrinks in Fiscal ’13
The U.S. Department of the Treasury said that the federal government ran a $75 billion surplus during September, which was the last month of fiscal 2013.
TODAY’S DEALS: Grandbridge Arranges $26.5M for California Apartments
Grandbridge arranges financing for two California assets; Associate Estates acquires an apartment community in Charlotte; and NorthMarq arranges $4.12 million in acquisition loans.
Economy Watch: Fed Says No Taper for Its Stimulus
The Federal Open Market Committee said that it plans to continue to stimulate the United States via its continuous (monthly) bond-buying program—at $85 billion a month—and isn’t going to taper that figure just yet.
Economy Watch: Case-Shiller Reports Continued Residential Price Hikes
Standard & Poor’s released the latest Case-Shiller home price indexes on Tuesday, and as expected, they indicated rising prices in a lot of markets.
TODAY’S DEALS: HFF Closes Sale of N.J. Development Site
A 25.4-acre fully approved site trades hands; Clarion Partners buys a student housing asset in Tucson; and Meridian Capital negotiates $43 million in financing for properties in New York.
Economy Watch: Pending Home Sales Decline
The National Association of Realtors said that its Pending Home Sales Index dropped to 101.6 in September from a downwardly revised 107.6 in August.
TODAY’S DEALS: Pinnacle Sells 304-Unit Apartment Near Dallas
Cortland Partners buys Texas asset from Pinnacle; CBRE/New England brokers the $7.8 million sale of a Section 8 property in Massachusetts; and BMC Capital provides a $2.8M loan and enables lower interest on foreclosed property.
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Economy Watch: Consumers Feeling a Little Glum
The Reuters/University of Michigan consumer sentiment index—which has looked something like a seismograph needle jumping up and down in recent years—dipped downward again to end October at 73.2, down from the end of September reading of 77.5.
TODAY’S DEALS: Vantage to Acquire 650-Unit Apartment Outside Philly
Vantage enters a $70 million acquisition agreement; IPA brokers a Behringer Harvard sale in Connecticut; and IPA arranges a $31 million multifamily sale in Tampa, Fla.