National
TODAY’S DEALS: Behringer Harvard, Legacy Partners Break Ground in Denver
Work begins on a luxury Denver asset; Transwestern brokers the sale of 1,476 units in two weeks; and Essex Realty brokers the sale of a new construction for $5.7 million.
TODAY’S DEALS: PRG Sells 292-Unit Asset in Raleigh
PRG Real Estate Management sells a 292-unit asset for $20 million; Berkadia arranges an $8.8 million bridge loan for a condo acquisition in San Jose; and ARA represents REIT in the sale of a fully stabilized asset in Florida.
Two Texas Metros Top List of ZipRealty’s Most Affordable Housing List
ZipRealty, Inc., an online technology-enabled residential real estate brokerage company, released its list of the top 10 most affordable housing markets in 2013 based on a two-year analysis by the company of MLS data and U.S. Census Bureau information.
Economy Watch: Bailout Terms for Cyprus Cause Big Upset
The euro-zone crisis has been somnolent lately, but over the weekend it returned to mini-panic mode in a hurry when word broke that as part of Cyprus’ bailout, the EU wants depositors in the island nation’s banks to pay a 6.75 percent tax on their deposits up to 100,000 euros, and a higher tax on deposits higher than that.
TODAY’S DEALS: Venterra Realty Lands Financing for Houston-Area Buy
HFF arranges financing for an acquisition in Texas; Urban Land Conservancy buys land for an affordable TOD in Denver; and NorthMarq Capital arranges a $10.5 million cash-out refinance.
Economy Watch: World’s Middle Class to Expand Mightily by 2030
The middle class in the developing world will indeed be developing quite rapidly in the next two decades, according to the United Nation’s Human Development Report 2013.
TODAY’S DEALS: SARES•REGIS Launches Value-Add Fund
SARES•REGIS Group launches a fund targeting western markets; Landmark Apartment trust announces plans to buy management operations of Elco Landmark Residential Housing; and Lee & Associates’ Berzack Group sells a 52-unit asset in Van Nuys, Calif.
SPECIAL REPORT: Knakal Says New York City Sales Market is ‘Phenomenal,’ Land Prices ‘On Fire’
Robert Knakal, chairman of Massey Knakal Realty Services, said the New York City commercial property investment sales market is currently red hot, but warned that sustained periods of low interest rates lead to real estate bubbles.
TODAY’S DEALS: Walker & Dunlop, ARA JV Closes $110M in Loans
A Walker & Dunlop, ARA joint venture completes five financings valued at $110 million; Centerline provides $21 million in acquisition financing; and HFF supplements a first mortgage with a $5.3 million loan.
Economy Watch: Retail Sales Healthy in February
The Census Bureau reported on Wednesday that U.S. retail and food services sales for February increased by 1.1 percent compared with January, and 4.6 percent compared with February 2012.