National
Economy Watch: Manufacturing Sector Running Out of Steam
The Empire State index unexpectedly decreased to negative 10.4 in September from negative 5.9 in August, according to the New York Federal Reserve’s manufacturing survey, which was released on Monday. It’s the lowest reading since November 2010.
TODAY’S DEALS: Braxton Begins Second Phase of Arkansas Asset
An Arkansas asset gets a second phase; The Infinity Group sells a community in Louisville, Ky., for $22.5 million; and Berkeley Point Capital supplies $52.32 million in Fannie Mae financing for a student housing property.
Economy Watch: QE3 Arrives
QE3 turned out to be a different creature than the preceding quantitative easings. Instead of a concentrated stimulus in the form of bond purchases, the Fed has decided to beat the drum steadily.
TODAY’S DEALS: Lyon Breaks Ground on Santa Ana Luxury Asset
Lyon Communities begins a 300-unit asset; Beech Street Capital provides $152 million to Archstone to refinance an asset in Maryland; and NorthMarq Capital secures a $20 million, five-year take-out loan from a life company.
Economy Watch: German High Court OKs Euro-Zone Bailout
The euro-zone, and probably the world economy, dodged another bullet on Wednesday when Germany’s supreme constitutional court ruled that the country could participate in a proposed permanent European bailout fund, formally known as the European Stability Mechanism.
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 […]