National
Economy Watch: Apartment Vacancies, Absorption Both Edge Down
Reis Inc. reported on Wednesday that the national apartment vacancy rate was 4.6 percent during the third quarter, down a notch from 4.7 percent during the previous quarter.
TODAY’S DEALS: Archstone Buys Marina del Rey Apts for $44M
Archstone buys a 205-unit asset in SoCal; Multi-Employer Property Trust lands a Dallas tower; and Pure Multi-Family REIT announces plans for a $52.5 million buy in Dallas-Fort Worth.
Economy Watch: Home Prices Jump, Says CoreLogic
Home prices nationwide, including distressed sales, increased year-over-year by 4.6 percent in August compared to August 2011, according to CoreLogic.
TODAY’S DEALS: Lyon Breaks Ground on 366-unit Asset
Lyon Communities begins a Silicon Valley development; San Antonio Commercial Advisors arranges a 288-unit sale; and HFF secures $19.5 million in financing for student housing.
Economy Watch: Construction Spending Drops Slightly
The Census Bureau reported on Monday that U.S. construction spending edged down 0.6 percent in August compared with July, with both private and public construction spending off a bit.
TODAY’S DEALS: Bascom Completes Colorado Sale with Help from ARA
ARA represents Bascom in a $42.3 million sale; NAI Hunneman brokers a Massachusetts transaction; and Aries Capital provides a $3.3 million loan.
Economy Watch: Consumer Spending Up in August, Incomes Not So Much
There was a disconnect between a rise in consumer spending and a rise in personal income during August, according to the Bureau of Economic Analysis on Friday, and it didn’t bode well for the U.S. economy.
TODAY’S DEALS: Bascom Continues Phoenix Buying Spree
Bascom buys two assets; Centerline Capital provides financing for a Colorado acquisition; and Commercial Mortgage Capital closes $46.5 million in financing in August.
Economy Watch: US GDP Grew Tepidly in 2Q
The Bureau of Economic Analysis released its final estimate of U.S. GDP growth on Thursday, the one that will be cited forever more, and it wasn’t good tidings for the U.S. economy.
TODAY’S DEALS: Salmanson Capital Completes $15.2M Off-Campus Buy
Salmanson Capital buys 50 off-campus assets near Lehigh University; Beech Street provides $10.9 million for a Philadelphia portfolio refinance; and Alliant Capital closes two loans for borrower to pay off bank loan and capitalize equity.