National
Economy Watch: Case-Shiller Reports Monthly, Annual Home Price Increases
According to the S&P/Case-Shiller Home Price Indices, which were released on Tuesday, average U.S. home prices increased by 1.5 percent for the 10-city composite index and by 1.6 percent for the 20-city composite index in July 2012 compared with June.
TODAY’S DEALS: Stalled Chicago Tower Restarts with U.S. Bank Loan
Related starts a Chicago tower thanks to financing from U.S. Bank; Stoneleigh Companies and Arris Investments land construction financing for a 298-unit asset in Denver; and NorthMarq arranges a $20 million loan for a market-rate Las Vegas community.
SPECIAL REPORT: The New Apartment Development Cycle Targets Generation Y
The new apartment development cycle focuses on the needs and wants of a huge demographic that is now entering prime renter age–Generation Y, said Rohit Anand, KTGY Principal, during MHN’s Excellence Awards ceremony held in New York.
TODAY’S DEALS: Brookfield and Fairfield Close $323M Fund
Brookfield Asset Management and Fairfield Residential close a $323 million value add fund; Beech Street provides a $21.7 million acquisition loan; and Berkadia arranges interim and permanent financing for properties in Brooklyn, N.Y.
Economy Watch: U.S. Economy Dragging, Texas Shows Some Pep
Two different branches of the Federal Reserve issued economic reports on Monday, one not particularly sanguine about the U.S. economy, the other more hopeful about a region whose relatively strong economy has gotten some attention lately.
TODAY’S DEALS: ARA Closes an Equity Raise for a Houston Development
ARA sources JV equity for an Alliance development; Northwestern Mutual sells a 137-unit asset in Medford, Ma.; and NorthMarq Capital arranges a $14.5 million Freddie Mac mortgage.
Economy Watch: Unemployment Edges Up in 26 States, Down in 12
The U.S. Bureau of Labor Statistics reported on Friday that regional and state unemployment rates had little change in August.
Chicago-based REIT Acquires 235-Bed Student Housing Property in St. Paul
By Gabriel Circiog, Associate Editor Chicago-based real estate investment firm Harrison Street Real Estate Capital has closed on a 235-bed student housing property dubbed Stadium Village Flats, the Minneapolis / St. Paul Business Journal reports. Situated at the University of Minnesota in St. Paul, the Stadium Village Flats were sold by the Opus Group. The […]
TODAY’S DEALS: MAA Enters Kansas City Market with 323-Unit Purchase
MAA enters Kansas City; Bluerock completes a disposition in Austin; and Boston Capital invests in an affordable seniors development in West Roxbury, Ma.
Economy Watch: Household Worth Drops Slightly in 2Q
The Federal Reserve said in its second quarter 2012 Flow of Funds report on Thursday that U.S. household net worth was $62.7 trillion in 2Q12, a slight decline compared with the first quarter.