National
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.
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.