National
Economy Watch: Bank Failures Slow Almost to Halt
The rush of U.S. bank failures that began with the financial panic more than four years ago has crawled to a trickle.
TODAY’S DEALS: Vesper Acquires Texas Student Housing Asset
Vesper Holdings buys a 450-bed asset; The Bascom Group completes a Colorado sale with help from ARA; and Alliant Capital completes a $2.1 million loan.
Commercial/Multifamily Mortgage Debt Increases by Largest Amount Since 2008
The level of commercial/multifamily mortgage debt outstanding increased by $21.8 billion, or 0.9 percent, in the fourth quarter of 2012, as all four major investor groups increased their holdings, according to the Mortgage Bankers Association.
Economy Watch: Employment Up Ahead of Sequester
In creating 236,000 jobs in February, as the Bureau of Labor Statistics reported, the economy surprised on the upside, since some economists had fretted that the looming sequester might have made employers nervous.
Economy Watch: Healthy Job Creation in February
The U.S. economy created 236,000 jobs in February, according to the Bureau of Labor Statistics. That’s a considerable improvement over January, when 119,000 jobs were created, and compares favorably with the 2012 monthly average of 181,000 jobs created per month.
TODAY’S DEALS: Landmark Buys 795 Units
Landmark Apartment Trust acquires three communities; Beech Street closes a $5.7 million refi on a Chicago asset; and Johnson Capital arranges a $21.32 million loan for Seattle property.
Economy Watch: Fed Says Economic Still Expansion ‘Modest to Moderate’
The Federal Reserve released its latest Beige Book, which said that “economic activity generally expanded at a modest to moderate pace since the previous Beige Book,” but—and this is a fairly large but—”many Districts noted rising gasoline prices and fiscal policy as having a negative effect on consumer sales.”
PRIMEDIA and Kingsley Associates Launch Industry’s First Free Certified Resident Ratings & Reviews Service
PRIMEDIA recently launched its Certified Resident Ratings & Reviews℠ service for property operators, the first free-of-charge online ratings and reviews service compiled from certified residents.
TODAY’S DEALS: EdR Begins On-Campus Asset at West Chester University
EdR closes financing on and begins a new project; M West Holdings completes a 101-unit buy in Los Angeles; and Eastern Union arranges $25 million in financings.
Economy Watch: Home Prices Balloon in January
The parade of residential real estate revival numbers continues: CoreLogic reported on Tuesday that home prices nationwide, including distressed sales, increased year-over-year by 9.7 percent in January 2013.