National
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.
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.