Regions
Economy Watch: 2Q GDP Surprises on the Upside
By Dees Stribling, Contributing Editor In recent weeks, prognosticators have been predicting that U.S. real gross domestic product would barely increase at all in the second quarter. On Wednesday, the Bureau of Economic Analysis released its first, or “advance,” estimate of real GDP for 2Q13: an annualized increase of 1.7 percent. Though not especially robust, growth was better than expected. In the first quarter, real GDP increased by only 1.1 percent, annualized. The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (people out buying stuff), exports (foreigners buying our stuff), nonresidential fixed investment…
TODAY’S DEALS: Friedkin Buys a 374-Unit Illinois Asset
HFF brokers a Illinois sale for MEPT; Titan SenQuest acquires a Texas seniors housing asset; and Beech Street Capital closes a $10.5 million loan for a Utah acquisition.
$10M Loan Closed for Affordable Housing in Mass.
MassHousing has closed on $10.1 million in loans for the renovation and preservation of affordability at the 108-unit Kings Landing in Brewster.
Institutional Buyer Pays $99M for Stamford Apartments
Clarion Partners has acquired Infinity Harbor Point, a 242-unit apartment high rise in Stamford, for $98.8 million.
MNS Begins Sales of Williamsburg Townhomes
MNS, a real estate brokerage firm specializing in New York City residential properties, was named the exclusive sales and marketing agent for the Williamsburg Townhomes by developer, Magnum Real Estate Group
MARKET SNAPSHOT: Seattle on a High Due to Low Unemployment and Vacancies
Seattle’s recent emergence as one of the most intriguing real estate markets in the United States is in no small measure the result of the influence of major corporate presences such as Microsoft and Amazon.
Downtown Denver Condo Tower Selling Again
Condos are in demand again, if the rate of sales at SPIRE, a for-sale multifamily high rise in Denver, is any indication.
TODAY’S DEALS: Oak Grove Provides $55.6M for Three Twin Cities Properties
Oak Grove Capital provides three loans to Bigos Management; Toronto-based Starlight buys 216-units in North Dallas; and NorthMarq Capital arranges $19.5 million mortgage for refinance, use conversion of seniors housing.
CIM Group Acquires L.A. Community
CIM Group announced that it has acquired a recently renovated 168 high-rise community in the Koreatown neighborhood of Los Angeles.
Economy Watch: Home Prices Rise Everywhere
U.S. residential prices continued their upward climb in May, according to the latest S&P/Case-Shiller Home Price Indices.