National
TODAY’S DEALS: StoneBridge Investments Buys Luxury Atlanta Apartment
StoneBridge Investments buys 252 units in Atlanta; NorthMarq arranges $13.6 million for an affordable asset; and Centerline provides a $6.7 million bridge loan to refinance and build-out a 24-unit property.
Economy Watch: Inflation Barely a Whisper
The Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers edged up by 0.1 percent in August compared with July.
APARTMENT MARKET STATISTICS: September 2013
Housing starts in five-plus unit dwellings rose by 25 percent in May 2013 to a seasonally adjusted annual rate of 306,000 units, reports the National Association of Home Builders.
Fannie Mae Says Multifamily Development is Rebounding, But Single-Family Units Still Dominate Rental Market
A decline in home-ownership rates would seem to suggest a boom for the multifamily industry, but a shift in renter preference from multifamily to single-family homes and a growing desire for home ownership may force industry professionals to re-think how they attract the key age group of renters to their communities.
TODAY’S DEALS: Tucker Development-Led Partnership Closes on $218M Financing for Hudson Lights
Tucker Development-led partnership closes on $218 million in financing for a mixed-use development; HFF provides a development in North Dakota with construction financing; and Colliers sells to properties in Phoenix.
Builder Confidence Unchanged in September, According to NAHB
Following four consecutive months of improvement, builder confidence in the market for newly built, single-family homes held unchanged in September with a reading of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index.
Economy Watch: Residential Prices Continue Climbing
Another indication that the housing recovery still has some legs: FNC reported that its Residential Price Index, which tracks the 100 largest U.S. metro areas, was up 0.7 percent in July compared with June.
TODAY’S DEALS: ARA Brokers 583-Unit Sale in Northwest Austin
A Canadian investment firm buys into Austin, Texas; Civitas Capital closes $53.5 million for a joint venture development in Dallas; and Bessen & Assoc. announces a sale near Natural History Museum for a historic price at 3.3 percent cap rate.
Economy Watch: Retail Sales Inch up in August
U.S. retail sales increased by a smallish 0.2 percent in August compared with July, according to the Census Bureau.
TODAY’S DEALS: Griffin-American Acquires 44 Seniors Housing Properties in the U.K.
Griffin-American Healthcare REIT II completes a $472.2 million U.K. portfolio acquisition; Landmark Apartment Trust of America acquires two apartment communities for $37 million; and Washington Property Co. obtains a $75 million permanent loan for new project in Silver Spring, Md.