National
Economy Watch: Investors Wait on Word From ECB
Last week, investors seemed to pause while they were waiting for Fed chairman Ben Bernanke to speak some magical words. This week, the markets seem to be stuck in neutral waiting for ECB president Mario Draghi to outline his central bank’s plan to “save the euro,” to put it in (overly) dramatic terms.
TODAY'S DEALS: Bascom Arizona Ventures Grabs a Class-A Asset
Bascom completes a $27.2 million purchase; Steadfast Income REIT acquires a property in Louisville; and HFF closes the sale of a 240-unit community in Dallas.
Economy Watch: Homes See Significant Annual Increase in July
CoreLogic reported on Tuesday that home prices nationwide, including distressed sales, increased by 3.8 percent in July 2012 compared to July 2011.
Apartment Rents, Occupancies Still Rising
According to Axiometrics, national effective rents for the U.S. apartment market increased 0.54 percent from June to July, bringing year-to-date effective rent growth up to 4.42 percent.
TODAY'S DEALS: Beech Street Closes $26.3M Loan for N.J. Acquisition
Beech Street closes N.J. acquisition financing; CB Richard Ellis — N.E. Partners brokers a $21 million sale; and HFF closes a $14.5 million sale in Oregon.
Economy Watch: QE3 Soon? Probably (Maybe)
Investors waited all week for Ben Bernanke’s annual Jackson Hole, Wyo., end-of-summer speech, and the chairman of the Fed delivered… something.
TODAY'S DEALS: MAA Picks Up an Asset in San Antonio
MAA buys a 436-unit asset; SBV Communities enters the Oklahoma City market with a 119-unit purchase; and NorthMarq Capital completes a $10 million Freddie Mac refinance of a three-year loan.
Economy Watch: Personal Income, Spending Up
While investors were anticipating Fed Chairman Ben Bernanke’s pronouncements from Jackson Hole the Bureau of Economic Analysis reported that personal income increased $42.3 billion, or 0.3 percent.
TODAY'S DEALS: Falcon Southwest Buys 324-Unit Austin Asset
HFF closes an Austin sale; Beech Street Capital provides Freddie Mac CME financing for two West Palm Beach properties; and Alliant Capital makes two loans totaling $2.4 million for a client.
Economy Watch: Beige Book Sees Housing as Bright Spot
The Federal Reserve released the latest edition of the Beige Book on Wednesday, more formally known as the “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” which noted that the U.S. economy has been growing “gradually in July and early August across most regions and sectors.”