National
Economy Watch: Apartment Market Continues to Tighten
Apartment vacancies nationwide continued to shrink in the first quarter of 2013, according to a report by Reis Inc.
TODAY’S DEALS: Panther Properties Acquires Three Class A Assets for $75M
Panther Properties buys a Southern portfolio; Berkeley Point Capital closes a $32.7 million refinance loan for a California asset; and NorthMarq Capital arranges $19.35 million in acquisition financing.
Economy Watch: Fannie Mae Roars Back to Profitability
Fannie Mae, practically given up for dead during the abyss of the Great Recession, showed signs of life in 2012.
TODAY’S DEALS: Pollack Shores Acquires 252-Unit Asset in Florida
ARA brokers a 252-unit sale in Florida; Centerline provides a $3.6 million refinance for an age- and income-restricted property in Minnesota; and Ideal Realty Group brokers the sale of two apartment towers by Virginia’s transportation department.
Economy Watch: Construction Spending Up, Especially for Residential Projects
The Census Bureau reported on Monday that U.S. construction spending increased 1.2 percent in February compared with January, coming in at an annualized rate of $885.1 billion for the month. That’s 7.9 percent more than during February 2012.
TODAY’S DEALS: Waterton Sells Maryland Asset for $40.8M
HFF closes a $40.8 million sale for Waterton Associates; Steadfast Income REIT acquires two Southern assets for $61 million; and Alliant Capital closes on a $1.8 million acquisition loan.
Lower Operating Costs Mean New-Home Buyers Can Afford More House
During New Homes Month in April, the National Association of Home Builders (NAHB) is showing home buyers why they can afford a higher-priced home—if it’s new construction.
Economy Watch: State Unemployment Declining
The Bureau of Labor Statistics reported on Friday that in February, month-over-month, 22 states had unemployment rate decreases, 12 states experienced increases and 16 states and the District of Columbia saw no change.
TODAY’S DEALS: Walker & Dunlop Provides $27.4M for Military Communities in Washington
Walker & Dunlop provides $27.4 million to three assets near Joint Base Lewis McChord; Holliday Fenoglio Fowler closes a $19 million apartment sale in N.J.; and Marcus & Millichap Capital Corp. arranges a $5.5 million refinance for a Class C property at 75 percent LTV ratio.
TODAY’S DEALS: Kennedy Wilson Closes Two Financings in Japan
Kennedy Wilson closes a $115 million loan on part of its Japanese portfolio; CBRE sells 272 units in Springfield, Ohio; and Walker & Dunlop provides $27.4 million in financing for military apartments.