National
Economy Watch: Demand for Prime Mortgages Up
The Federal Reserve released its July “Senior Loan Officer Opinion Survey on Bank Lending Practices” on Monday, offering the conclusion that “modest fractions of domestic banks, on balance, continued to report having eased their lending standards across most loan types over the past three months.”
TODAY'S DEALS: EdR Completes Mezz Loan, Enters Option to Purchase Penn State Asset
EdR invests in a Penn State development; HFF provides financing for three Texas assets; and Boston Capital invests in two affordable developments.
TODAY'S DEALS: Lender-Owned Multifamily Site Sells for $5.1M
An entitled development site sells in L.A.; Beech Street arranges $7.7 million to refinance a pair of Chicago nursing facilities; and Centerline supplies a $2 million, 80 percent refinancing loan to an affordable property.
IREM Report Confirms Strong Metrics for Apartments
The recently released 2012 edition of “Income/Expense Analysis: Conventional Apartments,” published by the Institute of Real Estate Management, confirms the conventional wisdom among the apartment industry. Namely, it’s bonanza time for landlords.
Economy Watch: U.S. Sees July Rise in Job Creation
The U.S. economy created 163,000 jobs in July, according to the Bureau of Labor Statistics on Friday.
TODAY'S DEALS: BPG Completes $20M Disposition
BPG sells a 424-unit asset; BH Properties buys a community in Phoenix for $7.3 million; and Boston Capital invests in multifamily developments in New York.
Economy Watch: Fed Holds Off on Stimulus for Now
Will the Fed try to stimulate the economy more or not? Is QE3 in the immediate future? The answer to those questions at the end of the latest meeting of the Federal Open Market Committee on Wednesday was “not yet.”
TODAY'S DEALS: Morgan Properties Grabs 558-Unit Asset
Morgan Properties buys a property for $27.4 million; Beech Street Closes a $10.5 million Fannie Mae conventional loan; and NorthMarq arranges $21.3 million in interest-only, six-year loans through a life insurance company.
Economy Watch: Case-Shiller Sees Another Monthly Uptick
The S&P/Case-Shiller monthly Home Price Indices for May (three-month averages of March, April and May), which were released on Tuesday, showed month-over-month increases for both the 10- and 20-city composites. In fact, both were up 2.2 percent.
TODAY’S DEALS: Security Properties Buys Portland Asset
Security Properties makes a value-add play; HFF lands construction financing and joint venture equity for a Virginia mixed-use development; and Advenir acquires an apartment property in an upscale submarket of Orlando, Fla. for $27.1 million.