National
BDO Study Shows Uptick in REIT Conversion
The 2013 BDO RiskFactor Report for REITs, a new survey by BDO USA, finds that a surge in companies filing for REIT status may be leading to an increase in scrutiny over which companies should qualify.
Video – Q1 2013 Apartment Trends
Reis Reports Chief Economist Dr. Victor Calanog covers Q1 2013 Apartment Trends and provides an outlook for the coming months in the sector.
Economy Watch: Memorial Day Weekend Travel Edges Down
Ahead of the holiday weekend, AAA estimated that 34.8 million Americans would travel more than 50 miles from home during the period from May 23 to May 27.
TODAY’S DEALS: Walker & Dunlop Arranges $12.4M for Iowa Independent Living Facility
Walker & Dunlop provides $12.4 million for an independent living asset in Iowa; and Beech Street Capital closes $18 million for an Orlando acquisition.
Economy Watch: New Home Sales Up in April
The Census Bureau reported on Thursday that new home sales were at an annualized rate of 454,000 units in April, up from 444,000 in March, which was revised upward from 417,000—an unusually strong revision. The bureau revised the February and January totals up significantly as well.
TODAY’S DEALS: CBRE Global Investors Buys a 352-Unit Community in Houston
CBRE acquires an asset near the Texas Medical Center; and Oak Grove Capital originates two HUD 223(f) loans totaling $37.1 million to the Cornerstone Group.
Economy Watch: Existing Home Sales Up Slightly
The National Association of Realtors reported that existing home sales were up 0.6 percent in April from an annualized rate of 4.94 million units to 4.97 million units (including all single-family, condos and co-op residences).
Positives, Negatives Seen in April Job Report, Auction.com Says
The U.S. Bureau of Labor Statistics’ April metro area employment data held good and bad news for multifamily and single-family recovery, according to New York City-based Auction.com.
TODAY’S DEALS: MAA Buys 260-Unit Asset in Virginia
MAA buys an upscale asset in Fredericksburg, Va.; and Trade Street Residential buys two communities in the Carolinas.
Economy Watch: Home Prices Still Climbing
American home values continued to climb in April, according to the latest Zillow Real Estate Market Report.