National
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.
TODAY’S DEALS: HCP to Buy 133 Senior Communities for $1.73B
HCP to buy $1.73 billion in seniors housing; PRG buys a 216-unit asset in Durham; and Boston Capital invests in two affordable seniors rehabilitation projects.
Economy Watch: Homebuilders a Bit More Perky
The National Association of Home Builders reported on Tuesday that its housing market index edged up by one point in October to 41, meaning that the industry is more optimistic than at any time since June 2006, when the index was headed the other way in the face of the gathering storm in homebuilding.
TODAY’S DEALS: EdR Completes a $67M Acquisition in Arizona
EdR buys an Arizona asset; Waterton Associates completes its sixth Denver purchase in 2012; and NorthMarq Capital arranges a $22.65 million mortgage.
Economy Watch: Retail Sales Advance in September
The Census Bureau reported on Monday that U.S. retail sales for September were up 1.1 percent compared with August, and up 5.4 percent compared with September 2011.