National
TODAY’S DEALS: Guardian Sells Seattle-Area Asset for $24.3M
A 174-unit in a Seattle suburb trades hands; ARA brokers the sale of two communities in Boulder, Colo.; and Colliers arranges a $2.35 million sale of a property at $106,818 per unit.
Economy Watch: Most States See Unemployment Dip in March
The Bureau of Labor Statistics reported on Friday that in March 26 states and D.C. enjoyed unemployment rate decreases, seven states suffered increases and 17 states had no change.
Economy Watch: Apartment Market Still Robust
The National Multi-Housing Council reported in its April Quarterly Survey of Apartment Market Conditions that the U.S. apartment market is in dandy shape across the board.
TODAY’S DEALS: Pure Multi-Family REIT Announces $45.4M Buy
A Canadian REIT buys a Texas asset; and a joint venture comprised of ScanlanKemperBard and an investment fund advised by Wayzata acquire a mixed-use asset in Phoenix.
TODAY’S DEALS: Walker & Dunlop Provides $71.3M for SoCal Apartments
Walker & Dunlop provides MG Properties with two loans; Centerline Capital refinances a 131-unit Manhattan asset; and HFF closes a $29 million sale of a development site on Biscayne Bay in Miami.
MHN PROFILE: Opportunities Still Exist in Chicago for Acquisition of Lender-Owned Assets, Says Kiser
If you are interested in acquiring small-scale distressed properties, Lee Kiser, principal of Kiser Group, has this to say: “Welcome to the club.”
Economy Watch: Fed Calls U.S. Growth Ho-Hum
The Federal Reserve released the latest “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” better known among economy wonks as the Beige Book, and it called U.S. economic growth “moderate.”
TODAY’S DEALS: Toll Brothers and AECOM Announce Luxury Jersey City Project
Toll Brothers and AECOM to break ground this spring; Lincoln Property Co. and Phoenix Property Co. land $150 million for a 420-unit development in Los Angeles; and HFF closes a $29 million sale of a development site on Biscayne Bay in Miami.
Mortgage Bankers’ Commercial/Multifamily Originations Rise to $244.2 Billion In 2012
Commercial and multifamily mortgage bankers closed $244.2 billion of loans in 2012 according to the Mortgage Bankers Association’s (MBA) 2012 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
First-Quarter Economic Growth Stronger Than Expected
Recent data indicate that economic growth in the first quarter has accelerated to an above-trend—but likely unsustainable—pace of 3.2 percent, according to Fannie Mae’s Economic & Strategic Research Group.