Regions
Economy Watch: Beige Book Sees Housing as Bright Spot
The Federal Reserve released the latest edition of the Beige Book on Wednesday, more formally known as the “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” which noted that the U.S. economy has been growing “gradually in July and early August across most regions and sectors.”
TODAY’S DEALS: Mill Creek Residential Buys Three Texas Communities
Mill Creek Residential buys 589 units; Centerline Capital Group provides acquisition financing for a Delaware owner; and Smith Equities closes on the sale of two Tallahassee, Fla. properties.
HUD Study Finds Most LIHTC Properties Still Affordable
A new report by HUD has found that after an initial 15-year required “affordability period,” most Low-Income Housing Tax Credit (LIHTC) Program properties remain affordable.
LEED-Certified Affordable Community Breaks Ground in N.J.
Construction has commenced on Laurel Oaks, an income-restricted 94-unit apartment community from Barnegat, N.J.-based residential real estate developer Walters Homes.
Economy Watch: Home Prices Up During Second Quarter
According to the most recent S&P/Case-Shiller report on housing U.S. home prices saw positive growth for all three headline composites year-over-year during the second quarter of 2012.
TODAY'S DEALS: LYND Acquires 11 Distressed Communities in Auction
LYND picks up 11 distressed communities at an auction; The Carlyle Group buys an independent living asset in Jacksonville, Fla.; and Walker & Dunlop provides a 35-year Section 223(a)(7) refinance loan at low interest.
Waterbury Mixed-Use Property Trades Hands
VBF LLC, a regional owner of multifamily and commercial property, has purchased a mixed-use property at 380 West Main St. in Waterbury, Conn., for $1.48 million.
Omni Housing Development Revitalizes Sustainable Affordable Community
Omni Housing Development has nearly completed Phase 1 of the redevelopment on an affordable housing community in Rome, N.Y., called Liberty Gardens. In addition, the community is designed to be sustainable.
Behringer Harvard Aims to Build Dallas Luxury Multifamily Development
Behringer Harvard has acquired a 3.9-acre multifamily development site in Victory Park, Texas, with plans to construct a 377-unit luxury community called The Arpeggio Victory Park.
Economy Watch: Fed Still Mum About Stimulus
The Fed’s annual symposium at Jackson Hole, Wyo., is later this week, and Fed chairman Ben Bernanke will speak at the event on Friday, which has set off the latest round of speculation about whether the central bank will try to stimulate the economy once again.