National
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.
TODAY’S DEALS: IPA Brokers a 274-Unit Texas Sale
IPA arranges a Texas sale; Beech Street Capital provides $9 million for an off-market purchase in Texas; and Eagle Group Finance provides $1.4 million for the acquisition of entitled land near downtown Los Angeles.
Economy Watch: Job Openings Up Since Early 2012
The Bureau of Labor Statistics’ JOLTS said that there were 3.7 million job openings on the last business day of January, little changed from the last business day of December.
TODAY’S DEALS: Federal Capital Partners Buys Virginia Asset for $20M
Federal Capital Partners buys 127 units; Centerline Capital arranges $6 million for a Pennsylvania purchase; and Beech Street Capital closes $5.7 million Fannie Mae conventional loan.