National
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.
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.