National
TODAY’S DEALS: Passco Buys a Class A Community in Indiana
Passco buys a 280-unit asset in an Indianapolis suburb; Grandbridge closes $38.8 million for three communities; and Alliant Capital originates a $1.7 million small loan at a 3.81 percent interest rate.
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 8.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.
Economy Watch: Housing Prices Spike in Most Markets
All three S&P/Case-Shiller Home Price composites indices, which were published by S&P Dow Jones Indices, showed double-digit annual increases for the three months ending in March.
TODAY’S DEALS: Prudential Provides $160.4M for Two NYC Apartments
Prudential provides $160.4 million for two Manhattan acquisitions; Canadian REIT Morguard completes a six-property purchase in the South; and NorthMarq Capital arranges a $23.85 million fully amortizing loan.
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.