National
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.
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.