National
TODAY’S DEALS: PREI Sells Arizona Asset for $11.5M
Colliers brokers PREI’s sale of a 192-unit asset; and Marcus & Millichap handles a large portfolio sale in Atlanta.
Economy Watch: Most State Unemployment Rates Down
Twenty-five states had unemployment rate decreases, 17 states had increases and eight states and the District of Columbia had no change, the Bureau of Labor Statistics reported.
Sheraton Orlando North Acquisition Marks Sixth Acquisition for Waramaug, Interstate JV
Waramaug Hospitality and Interstate Hotels & Resorts have recently closed on the purchase of their sixth property as joint venture partners, the Sheraton Orlando North Hotel.
Miami Still King to International Homebuyers
Although foreign buyers seem to be slightly less interested in Miami properties compared to the year before, Miami retains its spot as the most sought-after destination by international home buyers.
TODAY’S DEALS: Berkeley Point Capital Provides $10.4M Refi for Affordable Asset
Berkeley Point Capital provides $10.4 million to refinance a Class C community; and Walker & Dunlop arranges $60.7 million for five off-campus student housing properties.
Economy Watch: Existing Home Sales Spike
Total existing-home sales rose 4.2 percent to an annualized rate of 5.18 million units in May from 4.97 million in April, and are 12.9 percent above the 4.59 million-unit pace in May 2012, according to the National Association of Realtors.
Detroit’s Quicken Loans Is the No. 1 Place to Work in IT
Computerworld, an online publication that provides technology news and information for information technology leaders, has recently revealed its annual “100 Best Places to Work in IT” list, a comprehensive report that recognizes a company’s core culture such as employee benefits, diversity, career development, training options and retention efforts.
TODAY’S DEALS: Kennedy Wilson and Partners Buy 420 Apartment Units in Dublin
Kennedy Wilson completes a $108.9 million Dublin acquisition; The Preiss Company buys a 770-bed asset in Gainesville, Fla.; and CIT provides Spirit Bascom Ventures with $33.3 million in acquisition financing.
Economy Watch: Days Numbered for QE3?
Investors, economists and financial journalists were watching the Federal Open Market Committee as it concluded its second day of meetings, and in the end the FOMC surprised on the side of winding the stimulus down, or at least reducing the rate of bond-buying starting at the end of 2013.
Denver Office of Economic Development Releases In-Depth Study Analyzing Denver’s Potential to Become a National Shopping Destination
By Gabriel Circiog, Associate Editor The Denver Office of Economic Development recently released a comprehensive retail study which explores Denver’s potential to become a national shopping destination. Prepared by retail consultant Economic & Planning Systems, The Denver Retail Conditions and Opportunities Study features an in-depth analysis of the current Denver retail market as well as […]