National
TODAY’S DEALS: Archstone Partnerships Grabs 237-Unit D.C. Tower
Archstone buys a luxury tower; Greystone supplies a $45 million loan for affordable housing; and Prudential Mortgage Capital originates $10 million for the acquisition of a Florida condominium.
Forest City Enterprises Plans to Sell Remaining Land Holding in Central Station Development
By Gabriel Circiog, Associate Editor Cleveland-based Forest City Enterprises Inc. has signed a letter of intent to sell its remaining land holdings in the Central Station development, ChicagoRealEstateDaily.com reports. Located in the South Loop, the large-scale residential project has managed to transform the neighborhood before being hit by the condo crash. The developer has decided […]
Economy Watch: Job Openings Static
The Bureau of Labor Statistics reported that the Job Openings and Labor Turnover Summary found that U.S. job openings decreased in July to 3.664 million, down slightly from 3.722 million in June.
Economy Watch: Consumers Hide Their Plastic in August
Consumers deleveraged their credit card accounts somewhat in August, which is perhaps indicating pervasive nervousness about the direction of the economy.
Wood Partners to Begin Construction on New Apartment Building
By Alex Girda, Associate Editor Nationwide multifamily developer Wood Partners announced construction on its latest Seattle-area apartment building is set to begin. The company will develop a 27-story residential complex at 225 Cedar St. in Belltown. The dining- and entertainment-heavy district is a suitable venue for the multifamily project, which aims to attract workers in […]
TODAY’S DEALS: IPA Brokers Largest San Antonio Sale of Year
IPA sells a 484-unit asset; SBV Communities completes its second purchase in a week; and Alliant Capital completes a $3.1 miilion refinance for a Los Angeles apartment property.
Economy Watch: Employment Gains Disappointingly Meager
Employment growth nationwide in August was as anemic as the corn crop in the Midwest, with a net addition of only 96,000 jobs, well below the monthly average thus far this year of 139,000 per month, and not enough in the long run (or even mid-term) to keep up with population growth.
TODAY’S DEALS: Kennedy Wilson and Partner Acquire 160-Unit Calif. Asset
Kennedy Wilson buys an asset for $33.5 million; Archstone breaks ground in the Bay Area for the second time in two months; and LNR Property and LYND close the development rights for a 35-story luxury apartment high-rise in Miami.
Economy Watch: ECB Stands Ready to Buy Euro-Zone Debt
As expected, European Central Bank president Mario Draghi said that the ECB was going to start buying short- and medium-term government debt, especially that of Italy and Spain, the weakest large links in the euro zone.
TODAY’S DEALS: Grosvenor Picks Up 360-unit Community in Washington
Grosvenor buys a Seattle asset; Marcus & Millichap brokers the sale of a 61-unit community in Canoga Park, Calif.; and Beech Street Capital arranges a $23.1 million refinancing for a portfolio of four properties located in Arizona, Texas and New Jersey.