National
How the Government Shutdown Might Affect the Housing Industry
The United States government has shut down as of today, Tuesday, October 1, 2013. How could this affect the housing industry?
TODAY’S DEALS: BRE Properties Completes $120.5M Acquisition
BRE buys a 270-unit community in Hollywood; StonebridgeCarras lands $121.6 million in construction financing for a Bethesda development; and HFF secures $52 million in financing for manufactured home community.
Economy Watch: Federal Government Shuts Down
Congress was unable to agree on legislation authorizing money for the continued operations of the federal government by midnight on Monday and, as has been expected for some days now, a shutdown began today, the beginning of the government’s fiscal year.
Economy Watch: Personal Income, Expenditures Up in August
The Bureau of Economic Analysis reported that U.S. personal income increased $57.2 billion, or 0.4 percent in August compared with July, and disposable personal income—after taxes, the kind everyone likes—was up 0.5 percent.
TODAY’S DEALS: Capital One Provides Bridge Loan for Rental Conversion
HFF arranges financing for a N.J. community; KB Homes buys a condo development site in San Francisco; and NorthMarq Capital arranges a $32.4 million Freddie Mac loan for a Class A property.
TODAY’S DEALS: Greystone Closes $38.8M CMBS Deal
Greystone closes a CMBS loan for an Ohio owner; National Health Investors acquires a seniors living campus in Alabama; and Meridian Capital negotiates $78.1M in financing for properties in NYC.
Economy Watch: Pending Home Sales Edge Down
According to the National Association of Realtors, the Pending Home Sales Index, a forward-looking indicator based on contract signings (but not closings), dropped to 107.7 in August from a downwardly revised 109.4 in July.
TODAY’S DEALS: RADCO Acquires 982-Unit Apartment in Atlanta
The RADCO Companies completes a $39.6 million distressed acquisition; Trade Street Residential acquires a 208-unit apartment community in Charlotte; and Johnson Capital arranges a $2.86 million acquisition loan.
Economy Watch: New Home Sales Up in August
The Census Bureau and HUD reported that sales of new single-family houses in August 2013 were at an annualized rate of 421,000 units. That’s 7.9 percent higher than the revised July rate of 390,000 units and is 12.6 percent above the August 2012 total.
TODAY’S DEALS: Morgan Properties, DRA Acquire 526-Unit Apartment Community
Morgan Properties expands in Maryland; Walker & Dunlop finances 2,400 units in Tennessee; and Essex Realty brokers the $4.89 million sale of a courtyard building.