National
Economy Watch: Lenders Ease Their Standards (a Bit) in 2Q
According to the Federal Reserve, reporting in its July 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices, domestic banks claim (on balance) to have eased their lending standards, and have experienced stronger demand for loans over the past three months.
TODAY’S DEALS: Indiana Community Sells for $37.8M
Marcus & Millichap brokers a 400-unit sale; Landmark Apartment Trust of America closes two separate acquisitions in Florida; and Berkeley Point Capital facilitates a $24.95 million refinance for a seven-year term.
Economy Watch: Employment Improving, But Growth Still Tepid
The monthly unemployment numbers for July were relatively weak—up 176,000 jobs—and it turns out that the previous months weren’t quite as strong as first reported, according to revisions released by the Bureau of Labor Statistics.
Economy Watch: Economy Creates Mediocre 162k Jobs
The U.S. Bureau of Labor Statistics reported that the economy created 162,000 jobs.
Economy Watch: 2Q GDP Surprises on the Upside
By Dees Stribling, Contributing Editor In recent weeks, prognosticators have been predicting that U.S. real gross domestic product would barely increase at all in the second quarter. On Wednesday, the Bureau of Economic Analysis released its first, or “advance,” estimate of real GDP for 2Q13: an annualized increase of 1.7 percent. Though not especially robust, growth was better than expected. In the first quarter, real GDP increased by only 1.1 percent, annualized. The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (people out buying stuff), exports (foreigners buying our stuff), nonresidential fixed investment…
TODAY’S DEALS: Friedkin Buys a 374-Unit Illinois Asset
HFF brokers a Illinois sale for MEPT; Titan SenQuest acquires a Texas seniors housing asset; and Beech Street Capital closes a $10.5 million loan for a Utah acquisition.
TODAY’S DEALS: Oak Grove Provides $55.6M for Three Twin Cities Properties
Oak Grove Capital provides three loans to Bigos Management; Toronto-based Starlight buys 216-units in North Dallas; and NorthMarq Capital arranges $19.5 million mortgage for refinance, use conversion of seniors housing.
Economy Watch: Home Prices Rise Everywhere
U.S. residential prices continued their upward climb in May, according to the latest S&P/Case-Shiller Home Price Indices.
TODAY’S DEALS: NGKF Capital Markets Completes Phoenix Sale
NGKF completes a 275-unit sale; UC Funding structures and funds a $9.9 million acquisition bridge loan for two Norfolk, Va., redevelopments; and Alliant Capital provides a $28.4 million FHA 223(f) loan.
Q2 Commercial/Multifamily Originations Up 7 Percent from Last Year; 36 Percent from Q1
Commercial and multifamily mortgage origination volumes during the second quarter of 2013 were 7 percent higher than during the second quarter of 2012 and 36 percent higher than during the first quarter of 2013, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.