Regions
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.
Central and South America See Hospitality Sector Accelerate Activity, Continue Upward Trend
The Central and South American hospitality market is on the rise.
IPA to Break Ground on Phoenix-Area Apartments
Investment Property Associates and the Rockefeller Group have formed a joint venture to develop a 402-unit apartment community at the northeast corner of Warner and Recker roads in Gilbert, a suburb of Phoenix.
Abu Dhabi Mixed-Use Development Completed
Leading Middle East luxury developer DAMAC Properties has announced completing its first Abu Dhabi development: the mixed-use luxury property Marina Bay.
Security Properties Buys Fourth Multifamily Complex in Metro Phoenix
Security Properties Inc. has acquired the 207-unit Lakeside Village in metro Phoenix. The company paid $16.4 million for the property, which was sold by Toronto-based Rose Lakeside Corp.
Marcus & Millichap Brokers Sale of Indiana Apartment Complex
Marcus & Millichap Real Estate Investment Services has closed the sale of The Reserve, a 158-unit apartment complex in Evansville, Ill., on behalf of the property’s seller, Indianapolis-based SC Bodner Company Inc.
MARKET SNAPSHOT: Weak Demand for Lower-Tier Product Leads to Stagnant Vacancies in Indianapolis
Although payrolls are gradually expanding following layoffs in May and June, the picture for multifamily in Indianapolis remains somewhat mixed.
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.