Posts
Real-estate calendar -http://seattletimes.
Real-estate classes, seminars and events
Local -http://www.fidelitycre.
BofA takes big loss as it sells Mastro building -http://seattletimes.
Bank of America sold one of bankrupt real-estate magnate Michael R. Mastro's foreclosed office buildings Monday, taking a loss of about $10 million, county records indicate.
An entity affiliated with Stockbridge Capital Group of San Francisco bought the four-story Lake View at Fremont building in Seattle for $19.45 million.
Seattle real estate prices still falling: Zillow -http://www.bizjournals.
Seattle home values are still falling with the real estate bottom not expected to be seen until at least next spring, according to Seattle online real estate company Zillow.com.
Commercial property sales up 73 percent -http://www.
With a total of $2.48 billion in sales, commercial property transactions in the Puget Sound area were up 73 percent for the twelve-month period ended in September, compared to the period a year ago.
Federal Way retail center adrift after anchors pull out; discounted condos atop Queen Anne Hill -http://seattletimes.
The recession pulled the financial rug out from under thousands of commercial real-estate investors months, even years ago.
For many, however, the endgame is just starting to play out.
Belltown apartments to break ground -http://www.bizjournals.
Ground is expected to be broken Friday on a new 17-story apartment tower at Third Avenue and Cedar Street in Seattle's Belltown neighborhood; the first residential high-rise in the city to be built in the past three years.
Owner of 1201 Third Avenue building gets new terms -http://www.bizjournals.
Boston-based Beacon Capital -http://www.
Greystar buys Glacier Real Estate Services -http://www.
Greystar Management Services of Charleston, S.C. said it’s acquired Glacier Real Estate Services for an undisclosed price.
Seventh and Madison building sells for $31M -http://www.bizjournals.
The Seventh and Madison building in downtown Seattle has sold for $30.8 million.
HAL Real Estate Investments -http://www.
Insurers, lawyers sign Russell Center leases -http://www.bizjournals.
Russell Investments Center has signed two more tenants to bring occupancy in Washington Mutual’s former headquarters building in downtown Seattle to approximately 60 percent
Developer Selig's one-man show plays well in current downturn -http://seattletimes.
In this time of great turmoil in the Seattle office market, Martin Selig — of all people — seems to be doing just fine.
Seattle apartment vacancy rate drops -http://www.bizjournals.
Seattle-area job growth contributed to one of the largest apartment vacancy rate decreases in three years, according to a new report.
November home sales show rebound, says NWMLS -http://www.bizjournals.
Pending home sales in Western Washington inched upward last month compared with a year ago, which is the first time that’s happened since April, according to the Northwest Multiple Listing Service, which tracks home sales in more than 20 Puget Sound counties.
Judge OKs Mastro mansion sale; Hazelrigg to pay $9.5M -http://www.bizjournals.
The many unsecured creditors of bankrupt real estate developer Michael Mastro Sr. are a step closer to recovering at least a portion of what they’re owed — if they're able to collect.
National -http://www.
General Growth to repay $570 million obligations -http://www.
(Reuters) - U.S. mall operator General Growth Properties Inc GGP.N, which emerged from bankruptcy on Tuesday, will repay $570 million of outstanding obligations and said it expects to initiate a regular cash dividend from the first quarter of 2011.
Street Aims to Reboot CMBS -http://online.wsj.com/
Wall Street has learned a lesson from the battles that have erupted for control of the bankruptcies of hotel owners Extended Stay Inc. and Innkeepers USA Trust: There has got to be a better way to build a commercial mortgage-backed security.
GGP Exits Bankruptcy -http://online.wsj.
After 19 months, mall company General Growth Properties -http://online.wsj.
There were many big winners and losers during the ordeal. Among the losers: the founding Bucksbaum family. Their stake in the company was valued at about $4 billion in 2007 when its stock was at its peak. They now own less than 10% of the company.
Wolf at Resorts' Doors -http://online.wsj.com/
The good news for Great Wolf Resorts -http://online.wsj.com/
Industry Sees Friendlier Climate -http://online.wsj.com/
The commercial real-estate industry stands to benefit from the shifting political power in Washington, as Republicans attempt to roll back some parts of financial regulation and stanch any efforts to raise taxes.
Once-Dead OneWest Buys Citi Loans -http://online.wsj.com/
NEW YORK—Private-equity owned OneWest Bank bought a $1.4 billion real-estate loan portfolio from Citigroup -http://online.wsj.
Deutsche Bank Doubles Down With a Casino -http://online.wsj.com/
LAS VEGAS—Wall Street is continually criticized for being one big casino. Deutsche Bank -http://online.wsj.com/
In a few weeks, a group of Deutsche Bank bankers will become unwitting casino moguls when the bank unveils a glass-facade, 3,000-room casino called the Cosmopolitan.
Housing starts hit lowest level in 18 months -http://money.cnn.com/
NEW YORK (CNNMoney.com) -- New home construction fell to an 18-month low in October, the government said Wednesday. Housing starts, or the number of new homes being built, fell 11.7% to a seasonally adjusted annual rate of 519,000 in October, down from a revised 588,000 in September, the Commerce Department said. The annual rate is the lowest since the 477,000 starts reported for April 2009.
Citigroup Moves 30 Commercial Real Estate Employees to JPMorgan Under Deal -http://www.bloomberg.com/
Citigroup Inc. -http://www.bloomberg.com/
Several workers have already left for JPMorgan and the rest will go over the next couple of months, according to an internal Citigroup memo obtained by Bloomberg News and confirmed by Shannon Bell -http://search.bloomberg.
Housing foreclosures give commercial real estate unlikely boost -http://articles.
Commercial real estate's first signs of recovery may come start with the humble home.
Ranked 10th in the nation for foreclosure filings, Orlando has also been haunted by emptied warehouses, vacuous office buildings and darkened suburban shopping centers. Overall, property values on commercial buildings have not fallen as much as homes, which have lost more than 50-percent of their value since the peak in 2007 but lease rates have fallen more for commercial than residential during that time.
Deficit Commission's Proposals Could Hit Commercial Real Estate -http://www.cnbc.com/id/
Just when you thought the commercial real estate market was finally on the upswing, new roadblocks to recovery may be lurking right around the corner. President Obama's deficit commission -http://www.cnbc.
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Mentoring helps women break barriers in commercial real estate -http://www.star-
Cheryl McGlothlin is starved for information on how to make her way in commercial real estate.
That's why she's involved with the Fort Worth chapter of the networking organization Commercial Real Estate Women and the Greater Fort Worth Real Estate Council.
Google Signs Deal to Buy Manhattan Office Building -http://www.cnbc.com/
In the biggest real estate deal of the year, Google signed a contract on Thursday to buy one of the largest office buildings in Manhattan for more than $1.8 billion, according to two real estate executives who have been briefed on the deal.
After a 30-year effort, rebirth of Times Square is complete -http://seattletimes.
NEW YORK — Next month, 11 Times Square, a new, glassy 40-story office tower at 42nd Street and Eighth Avenue, will formally open with its first tenant.
Baltimore real estate firm hooks up with Colliers -http://www.
Colliers International -http://www.
2 commercial real estate bankruptcies to bring loan losses -http://www.lasvegassun.
Local and national banks face more loan losses after two more sizable commercial real estate bankruptcies in Las Vegas.
Henderson-based Whitton Corp., which previously did business under several South Tech corporate names, filed for Chapter 11 reorganization on Sunday after several of its properties in the Las Vegas area and Northern Nevada were placed into receivership.
Simon's Expansion Plans Dealt Another Blow -http://online.wsj.com/
U.S. shopping-mall mogul David Simon is likely to abandon his pursuit of U.K. retail landlord Capital Shopping Centres Group -http://online.wsj.com/
International
REITs Going Global to Find Deals -http://online.wsj.com/
Frustrated with the shortage of U.S. properties for sale, some of America's biggest publicly traded landlords are going global.
ACS Aims to Diversify With Hochtief Bid -http://online.wsj.com/
BERLIN—Spanish construction company Actividades de Construccion y Servicios SA's expected bid for German builder Hochtief -http://online.wsj.
China reportedly limiting foreign property buys -http://www.marketwatch.
LOS ANGELES (MarketWatch) -- China is setting new rules that prohibit foreign companies from buying property there, other than offices for their own use, according to reports of a Chinese media account Friday.
China Limits Property Purchases By Foreigners -http://online.wsj.
SHANGHAI—China on Monday announced new limits on the ability of foreigners to buy residential or commercial property on the mainland, in its latest effort to curb the inflows of speculative money into its economy and ease inflationary pressure.
Hong Kong Office Rents Predicted to Soar -http://blogs.wsj.com/
With policy discourse centered on curbing the heady housing market in Hong Kong, one sphere has been noticeably absent from debate: office space.
But low vacancy rates, few planned developments and speculators eyeing commercial real estate could push office rents up to 30% in the next year, according to some industry analysts.
A City Engulfed in Megaprojects -http://online.
PHNOM PENH, Cambodia—The deadly stampede in Cambodia's capital last week is drawing new attention to problems arising from the city's dramatic but pell-mell growth.
Sands Dealt Setback in Macau -http://online.wsj.com/
Las Vegas Sands -http://online.wsj.com/
Distressed property listings tipped to rise in Q4-RICS -http://www.reuters.
* Specialist funds interest in distressed assets strong
LONDON Nov 22 (Reuters) - The number of distressed property assets being sold will surge in the fourth quarter as banks take a tougher line on failing loans, particularly in debt-troubled Ireland -http://www.reuters.
KFC Savors Potential in Africa -http://online.wsj.com/
After spending two decades introducing fried chicken and pizza to Chinese consumers, Yum Brands Inc. now sees Africa as its next international jewel.
By 2014, the Louisville, Ky., restaurant-holding company expects to double its number of KFC outlets in Africa to 1,200. In the next four years, it aims to more than double its revenue on the continent to $2 billion.
India to Relax Retail Restrictions Soon -http://online.wsj.com/
NEW DELHI—India is likely to loosen foreign-investment restrictions in its retail sector in coming months, following deliberations about the potential impact on the nation's millions of small-time shopkeepers, a senior government official said.
Distressed -http://www.
Morgan Stanley Sets Its Sights Lower -http://online.wsj.com/
During the boom years, Morgan Stanley -http://online.wsj.com/
BofA takes big loss as it sells Mastro building -http://seattletimes.
Bank of America sold one of bankrupt real-estate magnate Michael R. Mastro's foreclosed office buildings Monday, taking a loss of about $10 million, county records indicate.
An entity affiliated with Stockbridge Capital Group of San Francisco bought the four-story Lake View at Fremont building in Seattle for $19.45 million.
Commercial Real Estate: Where Is All the Distressed Property? -http://seekingalpha.
The real estate vultures have been circling for nearly 2 years, their sharp eyes peering from high above the devastated landscape, ready to feast on dead decaying buildings and development projects. According to conventional wisdom, the ground ought to be littered with foreclosed hotels, shopping centers, office buildings, and apartment complexes to devour, yet surprisingly, the vultures have found the pickings slim.
UpClose with Warren Weiser - GlobeSt.com -http://www.
GlobeSt.com -http://news.
CRE Trends
'Shadow inventory' of homes tops 2 million, says data aggregator -http://
Weak demand for housing is "significantly increasing the risk of further price declines" a CoreLogic analysis says.
By Inman News -http://search.nwsource.
Related
The "shadow inventory" of homes likely to be repossessed by lenders or already in their real-estate-owned (REO) inventory but not yet on the market reached 2.1 million units in August, up from 1.9 million a year ago, according to the latest analysis by data aggregator CoreLogic.
Because home sales also slowed, the shadow inventory represented eight months of housing supply, up from five months a year ago, CoreLogic said.
Foreclosures made up 25 pct of US home sales in 3Q -http://seekingalpha.com/
LOS ANGELES -- The worst summer for home sales in decades also put a chill on foreclosure sales, even as the average discounts on the distressed properties got bigger compared with other types of homes.
Builders Mark Time on Outlet Centers -http://online.wsj.com/
Mall developers, desperate for growth, are rushing downscale to build outlet centers that hawk brand-name clothes at discount prices.
"Clearly, when it comes to retail real-estate development, the only thing that seems to be getting done for the next few years is outlets," said Gary Skoien, chief executive of closely held outlet developer Horizon Group Properties.
Michael Glimcher: Musings of a REIT Maven -http://www.businessweek.
Investor appetite for income has made commercial real estate investment trusts, many of which own regional shopping malls, among the hottest stocks this year. As of Oct. 29, Glimcher Realty Trust (GRT -http://investing.
CRE BLOGS -http://credaa.ning.com/
Is Real Estate On Sale? -http://boss.blogs.
A friend of mine told me that his landlord was trying to raise his commercial rent from $3.25 to $5 per square foot per year. I was surprised, because most people I know are either having their rent reduced or at least frozen. My friend explained that he really didn’t want to move his company because the location was convenient for him and for his employees.
CRE Podcasts -http://credaa.ning.
Lee Cockerell, VP of Disney World Resort (Retired), Talks about Management and Leadership Strategies -http://credaa.ning.
"As the Senior Operating Executive for ten years Lee led a team of 40,000 Cast Members and was responsible for the operations of 20 resort hotels, 4 theme parks, 2 water parks, a shopping & entertainment village and a sports and recreation complex in addition to the ancillary operations which supported the number one vacation destination in the world.” One of Lee’s major and lasting legacies was the creation of Disney Great Leader Strategies which continues on as the primary resource for developing the 7000 leaders at Walt Disney World.
Ryan Slack - Events Keeping An Industry Alive -http://credaa.ning.com/
We had two compelling reasons to grab Ryan for an interview. The first is that we’ve watched as Ryan took a good idea and turned it into one of the industry’s premier go-to sites for a property search, PropertyShark.com.
Follow me on the Web: Fidelity Seattle Major Accounts -http://www.
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