National
Economy Watch: Beige Book Reports Residential Market Positives
The latest “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” more conveniently known as the Beige Book, was released on Wednesday and said that U.S. economic activity “expanded modestly since the last report.”
TODAY’S DEALS: Ivanhoé Cambridge Invests $234M in Silicon Valley
Ivanhoé Cambridge makes two big plays in the Silicon Valley; an Inland joint venture buys a mixed-use property in White Plains for $166.4 million; and Berkadia originates $38 million in refinancing for southern Florida properties.
Economy Watch: Housing Market Optimism Rising
In its September 2012 National Housing Survey, Fannie Mae said on Tuesday that Americans’ optimism about the recovery of the housing market and, more broadly, about the idea of homeownership itself continued a gradual climb.
Economy Watch: IMF Scales Back World Growth Predictions
The International Monetary Fund said on Monday in its most recent “World Economic Outlook” that it now expects the world economy to grow by 3.3 percent during 2012, down from its July prediction of 3.5 percent.
Booming Residential Markets Ignite Portland, Seattle Multifamily Sales
By Alex Girda, Associate Editor Two residential properties recently traded hands in the Pacific Northwest, totaling $88 million and intensifying speculation that Seattle and Portland are both about to experience apartment booms. An improving business environment spurred by corporate residents such as Microsoft Corp. and Amazon.com combined with the larger notoriety major cities such as […]
Economy Watch: Employment Gains Ground in September
The Bureau of Labor Statistics reported in its household survey that the number of people who count as employed increased by 873,000 in September, the largest such monthly increase in almost 30 years.
TODAY’S DEALS: Archstone Buys 70-Unit Asset in Venice, Calif.
Archstone completes a California purchase; Behringer Harvard and Trammell Crow announce a Houston development; and NorthMarq Capital arranges $31.3 million in Freddie Mac refinances for two properties.
Economy Watch: Employment Continues Tepid Growth
The U.S. economy created 114,000 jobs in September, according to Bureau of Labor Statistics on Friday.
TODAY’S DEALS: Bozzuto Begins a Mixed-Use Project in D.C.
The Bozzuto Group breaks ground in D.C.; The Bascom Group completes its fourth Denver acquisition in 2012; and Pearlmark Real Estate closes a $7.9M mezzanine loan for new construction in Atlanta.
MBA Analysis Pegs 2011 Multifamily Lending at $110 Billion, Up 60 Percent From 2010
In 2011, 2,653 different multifamily lenders provided a total of $110.1 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association.