National
TODAY’S DEALS: Centerline Provides $66.2M for Three Pennsylvania Assets
Centerline refinances three assets; and Harbor Group International buys a 256-unit apartment community in Virginia Beach.
Recent Slowdown in Economic Growth Likely Short-Lived
The year’s strong start faded late in the first quarter across many key economic indicators, but the recent set-back likely is a temporary one, according to Fannie Mae’s Economic & Strategic Research Group
Economy Watch: Unemployment Inches Down in Most States
The Bureau of Labor Statistics reported that the unemployment rate in 40 states and the District of Columbia dropped, while three states experienced increases and seven states had no change in April compared with March.
TODAY’S DEALS: Elco Landmark Apartment Trust Acquires Six Assets
Elco Landmark Apartment Trust completes a series of acquisitions in Texas and North Carolina; and Johnson Capital arranges $18.64 million in joint venture equity financing for two new construction projects.
Economy Watch: Housing Starts Take a Dip
Housing starts, which have been gaining upward momentum in recent months, took an unexpected dip in April, according to the Census Bureau.
TODAY’S DEALS: Landmark Acquires 600 Units in Carolinas
Landmark Apartment Trust of America acquires two properties in the Carolinas; Continental Realty Advisos buys a 560-unit community in Orlando; and Walker & Dunlop closes $152 million for properties in the Midwest in the first quarter.
Economy Watch: Home Buildings More Cheerful (or Less Glum)
The National Association of Home Builders reported that its housing market index increased three points in May to 44.
TODAY’S DEALS: NGKF Sells Two Massachusetts Properties
NGKF sells two assets for a combined $32.5 million; Northmarq arranges acquisition financing of $34.7 million; and Grandbridge Real Estate Capital closes three seniors housing transactions totaling $23.5 million.
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 7.3 percent from one week earlier,according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 10, 2013.
Economy Watch: Federal Deficit Shrinks
The Congressional Budget Office reported in its “Updated Budget Projections: Fiscal Years 2013 to 2023” that the federal budget deficit will shrink in fiscal 2013 to $642 billion, the smallest shortfall since 2008.