National
Owners Looking to Charge Premiums for Bay Area Residential Complexes
By Alex Girda, Associate Editor San Francisco is living its own private residential boom, and investors are looking to cash in on the demand for mid-Market residences. The San Francisco Business Times reports that apartment developer Archstone is currently looking to offload one of its larger Bay Area properties in the hopes of getting a […]
Economy Watch: Zillow Reports Home-Price Growth
Residential market indices are legion, and these days most of them are pointing toward a steady, if not overheated, U.S. housing recovery in most markets.
TODAY’S DEALS: TIAA-CREF Lands $92.6M Acquisition Financing for Luxury Asset
HFF arranges $92.6 million for an acquisition; Excel Trust picks up an apartment asset in a $263 million retail-focused buy; and NorthMarq Capital arranges $14.14 million in combined mortgages for two properties in Omaha, Neb.
Economy Watch: Residential Delinquencies Jump in September
LPS reported on Monday that the U.S. mortgage delinquency rate rose to 7.4 percent in September from 6.87 percent in August, a month-over-month spike of 7.72 percent.
TODAY’S DEALS: Jones Lang LaSalle Obtains $103M for Prime Properties
Jones Lang LaSalle secures $103 million in senior financing for two multifamily properties on behalf of Fairfield Residential; EdR and University of Kentucky enter Phase II on a student housing replacement initiative; and Colliers completes two REO sales totaling over $20 million in Los Angeles.
Economy Watch: Existing Home Sales Edge Down
Existing home sales dropped 1.7 percent in September to an annualized rate of 4.75 million units, including both single-family and multifamily, according to the National Association, with August’s rate revised upward to 4.83 million.
TODAY’S DEALS: Berkeley Point Capital Lands $40M for Houston Buy
Berkeley Point Capital sources $40 million for a Houston purchase; IPA brokers the sale of two assets in Reno for $35 million; and HFF secures $91 million in construction/permanent financing for Cathedral Commons.
Economy Watch: Unemployment Claims Bounce Back Upward
Proving itself to be the volatile indicator that it’s frequently asserted to be, the number of initial unemployment claims spiked upward for the week ending October 13th to 388,000, according to the U.S. Department of Labor.
TODAY’S DEALS: Distressed Miami Property to See New Life with $20M Redevelopment
A $20 million affordable redevelopment breaks ground in Miami; Bridge Partners buys a 352-unit asset; and Mesa West Capital provides $21 million in acquisition financing.
Economy Watch: Housing Starts Spike in September
The Census Bureau reported on Wednesday that housing starts jumped in September to an annualized rate of 872,000 units. That’s 15 percent more than the revised August estimate of 758,000, and a whopping 34.8 percent above the September 2011 rate.