National
TODAY’S DEALS: ABR, Chartwell Holdings Buy 384-Units in Charlotte
Alex. Brown Realty and Chartwell complete a value-add buy in N.C.; Peak Capital Partners acquires a 216-unit community in Albuquerque; and Alliant Capital closes on a $1 million refinance loan.
Economy Watch: Job Openings Down
The Bureau of Labor Statistics released the Job Openings and Labor Turnover Summary, which casts a bit of a different light on the national employment picture.
TODAY’S DEALS: KBS Legacy Partners Acquires 305-Unit Asset
KBS Legacy Partners Apartment REIT completes a $33.6M buy in South Carolina; The Bascom Group closes a 175-unit acquisition in Palm Springs; and Alliant Capital closes three refinancing loans.
Economy Watch: Fed May Continue Stimulus (or Maybe Not)
According to St. Louis Federal Reserve President James Bullard, speaking at 19th Annual Conference of Montreal, which was organized by the International Economic Forum of the Americas, low U.S. inflation has been a surprise.
Arlington’s Newly Built Grayson Flats Sold for $33M
Insight Property Group and Buvermo Investments Inc. have sold the Grayson Flats apartments in Arlington last month for $33 million, or roughly $492,500 per unit. The buyer, an affiliate of local development company Silverwood Companies, acquired the property about a month after it was finished.
TODAY’S DEALS: Forestar Group Sells 289-Unit Austin Asset
ARA brokers a sale for The Forestar Group; Transwestern facilitates the sale of a Houston property for HIG Realty Partners; and Aries Capital arranges a $7.5 million seniors housing construction loan that also funds pre-construction costs.
Economy Watch: Employment Surprises on the Upside
The creation of 175,000 jobs in May by the U.S. economy, as reported by the Bureau of Labor Statistics, was taken as good news mainly because economists, pundits, and investors were expecting a mediocre or worse report (even though it was only a little better than mediocre).
$238 Million Uplands Residential Community Opens In Baltimore
Uplands, a new, $238 million residential community located in Baltimore, oficially opened its gates to the public on Monday, June 3.
Milestone Apartments REIT to Pay $46 Million for Alpharetta Community
According to an official company announcement, Milestone Apartments REIT has agreed to pay $46 million for the Century Windermere, a 346-unit Class A multifamily apartment community located in the Alpharetta/Cumming submarket of Atlanta.
TODAY’S DEALS: U.S. Bank Closes $55.1M for Affordable Seniors Developments
U.S. Bank paves the way for two Retirement Housing Foundation projects in L.A.; Beech Street closes $8.5 million for a Tampa refinance; and Alliant Capital provides a $975,000 loan.