National
TODAY’S DEALS: Meridian Negotiates Loans Totaling $72.6M for Properties in NYC
Meridian Capital Group LLC extended financings totaling $72.6 million to mixed-use, multifamily and cooperative properties; and Grandbridge Real Estate Capital arranged a $17.7 million CMBS loan for a property in Missouri.
Upcoming Webinar to Outline Legislative and Regulatory Trends in Submetering, Utility Management
Join us in a webinar that will address important legislative and regulatory trends that will impact submetering and other forms of utility and energy management.
Economy Watch: The Economy Creates 195k Jobs in June
The Bureau of Labor Statistics reported that the U.S. economy created 195,000 jobs in June, a bit more than the average increase for the last 12 months, which is 182,000.
TODAY’S DEALS: Bascom Closes on 121-Unit Asset in San Jose Suburb
The Bascom Group completes a $27.6 million buy; SBV Communities acquires its fourth asset in Greensboro, N.C.; and HFF secures financing for The Laramar Group.
Mortgage Applications Decrease as Rates Reach Two-year High in Latest MBA Weekly Survey
Mortgage applications decreased 11.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 28, 2013.
Economy Watch: More Evidence of Residential Strength
Another measure of the U.S. residential market, coming on the heels of strong Case-Shiller numbers last week, came in positive.
TODAY’S DEALS: HFF Arranges $371.7M for Tishman Condo in San Francisco
Tishman Speyer lands construction financing with help from HFF; BRE Properties sells a Los Angeles asset for $46.8 million; and NorthMarq Capital arranges a $14 million loan from a life insurance company for note acquisition deal.
Economy Watch: Construction Spend Rises in May
The Census Bureau said that U.S. construction spending during May was at an annualized rate of $874.9 billion, 0.5 percent above the revised April rate. The May figure is 5.4 percent above the May 2012 total of $830.4 billion.
TODAY’S DEALS: Capri Capital, Kennedy Wilson Buy 437 Units in Marina del Rey
Capri Capital and Kennedy Wilson complete a $225 million purchase; CBRE facilitates a 110-unit sale in San Diego; and Meridian Capital Group arranges a $12 million refinance loan for a Pennsylvania community.
Economy Watch: Mortgage Delinquencies Drop
Fannie Mae reported on Friday that the single-family serious delinquency rate for the mortgages that it owns and insures dropped in May to 2.83 percent from 2.93 percent in April, down to the lowest level since January 2009, when delinquencies were on the way up.