National
Economy Watch: Fed Wants Big Banks to Beef Up Liquidity
The Federal Reserve proposed a rule to make too-big-to-fail banks and other deep-pocket entities less likely to fail.
TODAY’S DEALS: Portland Development Lands Financing Via HFF
TMT Developments lands construction financing for a 30-story, mixed-use tower; NorthMarq provides $16.2 million for a Miami apartment refinancing; and BMC arranges a cash-out refinance for a large loan in a tertiary market.
Economy Watch: Home Price Grows, Slows
In another indication that home price appreciation isn’t quite as fleet-footed as it has been recently, the Federal Housing Finance Agency said that its House Price Index was up 0.3 percent in August compared with the previous month.
TODAY’S DEALS: Diversified International, Alliance Residential Buy a Tempe Asset
Transwestern brokers a 84-unit sale in Tempe; and CBRE/New England arranges a $21.5 million sale in Boston.
Economy Watch: Jobs Report Mediocre Throughout
The delayed U.S. employment report for September from the Bureau of Labor Statistics turned in a modest 148,000 new jobs for the month and noted a downtick in the unemployment official rate, from 7.3 percent to 7.2 percent—though that was mostly because of a small decline in workforce participation.
TODAY’S DEALS: NorthMarq Arranges $38M Acquisition Financing for Minnesota Asset
NorthMarq Capital arranges financing for a 361-unit acquisition; Beech Street Capital Closes $32.7 million to refinance two assets in Orange County, Calif.
Economy Watch: Apartment Market Weakens a Little, According to NMHC
The National Multi Housing Council reported that all four indexes of its October Survey of Apartment Market Conditions dipped below 50 for the first time since July 2009.
TODAY’S DEALS: Home Properties Sells Virginia Apartment for $68M
Transwestern represents Home Properties in a 334-unit sale; Harbor Group International completes a 528-unit disposition; and Pembrook Capital provides $7.5 million in preferred equity for a development in Brooklyn.
Economy Watch: Residential Price Appreciation Slows Down
Home value specialist Zillow said that the pace of residential price appreciation nationwide slowed down in the third quarter of 2013, and it even turned negative in some markets.
TODAY’S DEALS: LATA Acquires Four Multifamily Properties for $98.2M
Landmark Apartment Trust of America acquires 1,346 units; IPA arranges a San Antonio sale; and Dominium acquires a tax credit property in Colorado, adding to its affordable housing portfolio.