National
Economy Watch: Homebuilder Confidence Slips
As the U.S. residential market improved throughout 2012, homebuilders grew more optimistic month by month, but now the trend has gone in reverse.
TODAY’S DEALS: RHP Properties Buys $865M in Manufactured Housing
RHP Properties becomes the nation’s largest private manufactured housing owner; and ARA sells a 250-unit community in Houston.
Economy Watch: Retail Sales Off in March
Consumers pulled back their spending in March, according to the Census Bureau, with total U.S. retail sales down 0.4 percent month-over-month.
TODAY’S DEALS: Seattle Apartment Property Sells at Record $518 Per Square Foot
The $14.65 million sales price of Elliott Bayview equates to $357,317 per unit; and a top FHA lender Greystone originates four HUD loans for more than $43 million.
Economy Watch: Americans Borrowing More (for Schooling)
The Federal Reserve reported that total consumer credit was up at an annualized rate of 7.8 percent in February, compared with a 5.5 percent increase in January.
APARTMENT MARKET STATISTICS: April 2013
Condo prices showed the first annual increase since 2007, registering a gain of 7 percent in 2012, according to the National Association of Home Builders.
APARTMENT MARKET STATISTICS: March 2013
Multifamily permits are now being issued at a rate of more than 300,000 units per year, according to the National Association of Home Builders.
TODAY’S DEALS: La Jolla Asset Trades for $29M
CBRE Group Inc. facilitates a 60-unit sale; Friedkin Realty Group sells a 208-unit asset in the Bay Area; and NorthMarq Capital arranges $33.38 million in a combined10-year mortgage.
Economy Watch: Fed Mulls Fate of QE3
The Federal Reserve released the minutes of the Federal Open Market Committee meeting, and while it didn’t reveal any dramatic fractiousness within the Central Bank, it seems that some members of the committee brought up phasing out QE3 sooner rather than at no specific point in time.
TODAY’S DEALS: AMLI Residential Sells 464-Unit Asset to Abacus Capital
AMLI residential completes a Chicagoland disposition; Beech Street closes $7.4 million for a two property portfolio in the Boston-area; and Home Properties executes its strategy to “lighten” its concentration in Washington, D.C. as it sells two properties for $109.1 million.