National
Economy Watch: Pending Home Sales Up
The National Association of Realtor’s Pending Home Sales Index, a forward-looking indicator based on contract signings, rose to 105.7 in March from a downwardly revised 104.1 in February.
Housing Partnership Equity Trust Launches with $100M in Funding for Affordable Communities
The Housing Partnership Equity Trust announced that it has raised $100 million. It will begin investing in multifamily communities in partnership with 12 high-performing nonprofit housing providers.
TODAY’S DEALS: Aragon Holdings Acquires Two Texas Assets
Aragon Holdings acquires two properties for $50 million; Centerline Capital facilitates an acquisition in Delaware; and GFI Realty sells an East Harlem apartment building.
Economy Watch: Modest Growth in 1Q, But at Least Its Growth
U.S. GDP starting expanding again during the first quarter of 2013 for a number of reasons, according to the Bureau of Economic Analysis.
TODAY’S DEALS: The Morgan Group Breaks Ground in Fort Lauderdale
The Morgan Group begins a 331-unit asset; Beech Street Capital closes $17 million for a student housing portfolio in Alabama; and HFF closes on the sale of a 207-unit Upper West Side multi-housing property.
Economy Watch: US GDP Expands Modestly
The Bureau of Economic Analysis reported that U.S. GDP grew at an annualized rate of 2.5 percent during the first quarter of 2013.
TODAY’S DEALS: Greystone Closes $43.8M for San Jose Asset
Greystone provides financing for a 434-unit community in San Jose; Enterprise Homes closes loans totaling nearly $30 million for two new affordable senior assets in Baltimore County; and Hudson Realty Capital funds a $5.5 million construction loan for a school conversion.
Housing Recovery Continues but Headwinds Remain
Buoyed by rising home prices throughout much of the nation, both single-family and multifamily housing starts are expected to post double-digit gains over last year in 2013.
Economy Watch: Wealthy Households Do Well in Post-Recessionary Period
The Pew Research Center reported this week that the wealthiest 7 percent of American households experienced a 28 percent increase in their wealth during the post-panic years of 2009 to 2011.
Economy Watch: Existing Home Sale Dip
Total U.S. existing home sales dropped 0.6 percent to an annualized rate of 4.92 million units in March from 4.95 million units in February, according to the National Association of Realtors.