National
Fannie Mae Maintains a Steady Pace of Multifamily Issuance in the Second Quarter
Fannie Mae announced that the company issued approximately $7.6 billion of multifamily MBS in the second quarter of 2013, backed by new multifamily loans delivered by its lenders.
Economy Watch: Fed Seems Determined to Taper QE3
The Federal Reserve released the minutes from the June 18-19 meeting of the Federal Open Market Committee on Wednesday, and while (as usual), they weren’t precisely a model of clarity, the minutes did seem to reinforce the idea that the central bank is indeed planning to “taper” its QE3 stimulus program.
TODAY’S DEALS: Fisher Brothers Lands $100.7M for D.C. Development
HFF arranges financing for a TOD development in D.C.; Berkeley Point Capital closes $31.6 million for a Kennedy Wilson acquisition; and HFF arranges a $7.75 million, seven-year term, refinancing on behalf of AmeriSouth Realty.
Economy Watch: Mortgage Rates Spike
The recent uptick in interest rates has begun to have an impact on mortgages, according to Zillow.
TODAY’S DEALS: CBRE Sells Three-Property Portfolio in San Diego
CBRE sells three mixed-use assets; Beech Street closes a $30.9 million acquisition loan for a Houston property; and a Greenwich Village, N.Y., portfolio of mixed-use buildings sells for $32.34 million.
Economy Watch: Residential Delinquencies Continue Drop
Lender Processing Services released its latest Mortgage Monitor, which found that the national delinquency rate for residential mortgages continued to fall in May, marking the largest year-to-date drop since 2002.
TODAY’S DEALS: LocalConstruct Acquires Second Colorado Springs Asset in Six Months
ARA closes a 200-unit sale in Colorado Springs; Grandbridge arranges $30.8 million for two Florida properties; and Essex Realty Group brokers the sale of a mixed-use property for $3.2 million.
Economy Watch: Employment Increase Broad-Based in June
The jump in employment reported by the Bureau of Labor Statistics, a nationwide increase of 195,000 jobs, was fueled by a number of sectors—leisure and hospitality, professional and business services, retail trade, healthcare and financial activities.
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.