National
Economy Watch: Industrial Production Surpasses ’07 Level
The Federal Reserve reported that U.S. industrial production increased 1.1 percent in November, compared with a decline of 0.1 percent in October.
APARTMENT MARKET STATISTICS: December 2013
Banks are increasing their construction loans for the first time since 2007, according to Chandan Economics.
TODAY’S DEALS: Brookline Buys Oregon Apartments from Matteson Cos.
ARA brokers a sale outside of Portland, Ore.; Canyon Capital Realty and Bank of America invest in a Maryland TOD development; and CBRE/New England brokers the AEW sale of a property to AvalonBay.
Economy Watch: To Taper or Not to Taper?
It’s going to be a notable week for the Federal Reserve, with a meeting of the Federal Open Market Committee slated for Tuesday and Wednesday, followed by Chairman Ben Bernanke’s last press conference in that position.
TODAY’S DEALS: Harbor Group International Sells Nashville Community
HGI completes a $57 million sale; Home Properties acquires a Nashville apartment; and NorthMarq negotiates a $4.7 million refinancing loan from a life company.
Economy Watch: Retail Sales See November Gain
U.S. retail sales edged up 0.7 percent in November compared with October, the Census Bureau reported.
TODAY’S DEALS: Beech Street Capital Closes $21.3M for D.C. Apartment Portfolio
Beech Street refinances two D.C. assets; Transwestern brokers a 180-unit sale in Colorado Springs; and NorthMarq Capital’s Raleigh office arranges two apartment acquisitions totaling $13.67 million.
Economy Watch: State, Local Tax Revenues Up
The Rockefeller Foundation reported recently that total state tax collections increased during the second quarter of 2013, the latest in a string of quarterly increases and an indication that the contraction of state government–which represented a major headwind for the entire U.S. economy during the worst of the recession–is over.
Ideal Properties Group Launches Two Brooklyn Properties
Ideal Properties Group has launched 603 Fourth in South Slope and 150 Broadway in Williamsburg, capitalizing on two of Brooklyn’s most desirable neighborhoods.
TODAY’S DEALS: MetLife to Invest in $317M UDR Tower
MetLife and UDR partner up on a San Francisco development; World Class Capital acquires a student housing asset in Texas; and CBRE Global Investors Fund acquires a Phoenix-area apartment community.