National
Best and Worst Metros by Job Growth
Julie Zisfein, senior associate and economist with Auction.com Research, says the Bureau of Labor Statistics (BLS) July metro area data shows continued job growth across the nation:
Economy Watch: Most States See Annual Unemployment Drop
Twenty-eight states and the District of Columbia experienced unemployment rate increases in July compared with June, according to the Bureau of Labor Statistics.
TODAY’S DEALS: Steadfast Adds $56M in Apartment Assets to Portfolio
Steadfast Income REIT acquires 633 units; ARA brokers a 271-unit sale in San Antonio; and Johnson Capital’s Denver office arranges a $10.8 million 35-year FHA permanent loan.
Economy Watch: Housing Starts Up in July
Housing starts continued their upward trajectory in July, with private starts coming in at an annualized rate of 896,000 units, a 5.9 percent increase compared with June, the Census Bureau reported.
TODAY’S DEALS: Essex Property Trust Sells Calif. Apartment for $138M
IPA brokers a 400-unit sale in California; NorthMarq Capital arranges $52.3 million for an apartment acquisition in Austin; and Franklin Street closes on a $8.5 million, 10-year, loan, at 3.96 percent interest for the first two years.
TODAY’S DEALS: Behringer Harvard Acquires Houston-area Apartment
Behringer Harvard completes a 240-unit buy in Sugar Land; AEW buys a Durham asset from a Greystar JV; and Meridian Capital negotiates financing for six multifamily properties in New York.
TODAY’S DEALS: Large Texas Apartment Community Trade Hands
Marcus & Millichap completes a 720-unit sale; Centerline provides a $1.1 million refinance for an affordable asset in Mississippi; and Berkeley Point Capital facilitates $12.5 million for an acquisition.
Economy Watch: Mortgage Delinquencies, Foreclosures Drop in 2Q
The Mortgage Bankers Association reported that the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to 6.96 percent of all loans outstanding at the end of the second quarter of 2013, the lowest level since mid-2008.
TODAY’S DEALS: Massachusetts Multifamily Asset Trades for $46.8M
CBRE/New England completes a $46.8 million sale; CAPREIT acquires a portfolio in Dublin; and Berzack Investment Property Advisors brokers a 12-unit sale in California.