National
Economy Watch: U.S. Top Oil and Gas Producer in the World
Not much economic data is coming from the federal government these days, but the U.S. Energy Information Administration did manage to release a report on American oil and natural gas production.
TODAY’S DEALS: Steadfast Income REIT Acquires Three Apartment Communities
Steadfast completes acquisitions in Texas and Tennessee; ARA brokers a 419-unit Dallas portfolio sale; and NorthMarq Capital arranges financing of $10.24 million for a mixed-use project.
Economy Watch: The Impasse Drags On
The federal government shutdown continued throughout the weekend, though the House voted unanimously on Friday to pay furloughed government workers, who number about 800,000, for the time they’re spending furloughed.
TODAY’S DEALS: Mack Urban and AECOM Announce the Land Acquisition of Six Acres for More Than $80M
Mack Urban and AECOM Capital announced the acquisition of six acres of land in downtown Los Angeles’ South Park district; three Georgia seniors housing assets trade for $30.9 million; and Greystone closes $15.9 million in Fannie Mae financing for a Maryland community.
Manhattan Residential Prices Up, Inventories Down, According to Brown Harris Stevens
The Manhattan for-sale apartment market is hotter than last year, mainly because multimillionaires are more active in the market than before.
Economy Watch: No Jobs Numbers for September
On Friday, the Bureau of Labor Statistics did not release its customary monthly report on the U.S. employment picture, which is one of the most closely watched economic indicators produced by the federal government.
TODAY’S DEALS: WRIT Acquires D.C. Apartment Asset for $48.2M
Washington Real Estate Investment Trust buys a 135-unit apartment community in Arlington; The Community Development Trust will obtain $125 million, the largest allocation under an inaugural federal bond program for funding affordable housing; and Beech Street Capital closes $13.6 million for a Maryland asset.
Economy Watch: ADP Reports Modest Jobs Growth
In a normal first week of the month, Wednesday’s Automated Data Processing report on employment would be a way station on route to more official numbers on jobs from the Bureau of Labor Statistics, and probably not a good predictor of the government numbers.
TODAY’S DEALS: Greystar Sponsors Recapitalization of $440M Portfolio with Ivanhoé Cambridge, Goldman Sachs and Partners
Greystar sponsors the recapitalization of a $440m portfolio; Colliers completes a $57.8 million sale in Arizona; and NorthMarq arranges $13.4 million in construction financing for a student housing asset in Oklahoma.
Economy Watch: Too Soon to Gauge Shut Down Impact
Day One of the federal government shut down, 2013 version, passed without too much incident on Tuesday. As expected, certain functions of the U.S. government came to a halt. Also as expected, Congress didn’t act to resolve the situation.