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Real Estate Outlook conference
RealShare's
Real Estate Outlook conference has been the leading Los Angeles commercial real
estate event for 25 years. In 2013, we're excited to bring you RealShare Los
Angeles, where 1000+ attendees will gather to talk about every income producing
property type, locally and nationally.
Dreaming
Big but Playing Small? How to Develop your Ability as a Thought Leader
Wednesday
January 8th 8:30am-10:30am
Every
conversation, sales interaction, and all leadership starts from within. Don't
like the results you're getting? Change your inner dialogue/voice. Learn more
Local
Onni
Group, of Vancouver, British Columbia, on Wednesday finalized its purchase of
the land where The Seattle Times' old headquarters building stands.
The
new growth strategy for Red Lion Hotels, the Spokane-based hotel chain,
includes selling half a dozen properties between Kelso and Pocatello, Idaho.
Total
Wine & More has leased about a quarter of the space in a shopping center
planned for 1600 Armory Way in Seattle, officials of commercial real estate
company Kidder Mathews said Monday.
Crews
have broken ground on a long-planned hotel project in Seattle’s University
District, where records show the same developer is buying more land right next
door.
Real
estate developer Greg Smith said he plans to build the tallest skyscraper in
downtown Seattle on a site where the famous Metropolitan Grill steakhouse
operates.
Jose
L. Nino De Guzman, 30, who operated NDG Investment Group LLC from 2006-2009,
was sentenced to 10 years in prison Thursday for running a "classic
Ponzi" scheme that raised more than $30 million.
The
British Columbia Investment Management Corp. paid $17.75 million on Tuesday for
a nearly half-acre development site at Third Avenue and Virginia Street in
downtown Seattle, public records show.
Seattle-based
developer Touchstone announced Tuesday it had found an equity partner in
Texas-based USAA Real Estate, moving it closer to redeveloping the former Troy
Laundry block in South Lake Union into a new 820,000-square-foot complex.
In
Seattle’s South Lake Union neighborhood, you can build a 283-room hotel without
any parking.
Holland
Partner Group is the new owner of a large property in Seattle’s South Lake
Union area.
A
three-building industrial property in Seattle’s Sodo neighborhood sold
Wednesday for an extraordinary price of nearly $120 a square foot.
The
1800 Ninth Avenue Building in downtown Seattle sold Monday for nearly $150.4
million, public records show.
The
Landing shopping center in Renton has been sold to a Boston-based investment
fund for $165.4 million.
A divided US Court of
Appeals for the Second Circuit upheld a finding of summary judgment against Con
Edison insurers in their bid to collect damages from World Trade center
leaseholder Larry Silverstein for…
Hilton Worldwide
Holdings Inc. set terms for its expected return to the public markets next
week, in an offering that could raise as much as $2.7 billion if it is well
received by investors.
LOS ANGELES-Los
Angeles is the nation’s most dense city, according to experts at the recent
Impact on Density Symposium at The Downtown Breakfast Club.
CHICAGO—The economic
recession may have hit middle-market retailers hard, but many outlets serving
cost-cutting consumers thrived, and remain very attractive to investors.
CHICAGO—One of the
nation's largest providers of senior housing has just entered into a lease at
AMA Plaza, the iconic tower adjacent to the Chicago River and formerly known as
the IBM Building, bringing its lease rate up to 92%.
CHICAGO-Continued
moderate job growth will mean vacancies continuing to slowly trend downward in
2014 and 2015 across the office, industrial and retail sectors, DTZ Research
said Thursday.
Private-equity giant
Blackstone Group BX -0.91% LP has been using initial public offerings to exit
its massive investments in shopping centers and hotels, like next week's expected
IPO for Hilton Worldwide Holdings Inc.
DETROIT—Locals call
it the " Dan Gilbert effect," the recent buying spree of commercial
buildings in downtown Detroit by the billionaire founder of Quicken Loans.
Now the phenomenon
appears to be spreading.
James Madison
University students long ago dubbed the Ashby Crossing housing complex
"Trashby" because of its age and rowdy residents.
Pressure is mounting
on Allen Smith to expand the Four Seasons Hotels and Resorts brand, just three
months after the former real-estate investor became chief executive officer of
the storied hotel operator.
Among the nation's
large cities, Denver has long had among the sleepiest office markets. But there
are signs of an awakening.
LAS VEGAS-The Las
Vegas investment market is really heating up, and both seasoned and new
investors are buying multifamily properties at record paces.
The Volcker rule
prohibits banks from owning more than 3% of a hedge fund or private-equity
portfolio.
So why did Goldman
Sachs Group Inc. GS +0.54% tell would-be investors that it would contribute up
to 20% in a new fund that makes loans backed by office buildings, hotels,
shopping centers and other properties?
SEOUL—About
a decade ago, a huge tract of land reclaimed from the Yellow Sea west of Seoul
was a barren wasteland. Today it is a city named Songdo with a population of
67,000, Korea's tallest tower and a green oasis modeled on New York's Central
Park.
In
late October, executives from Taubman Centers Inc., TCO +0.05% the luxury
retail real-estate empire built by the Taubman family of Michigan, gathered
with local officials and business leaders in Hanam City, South Korea, to
celebrate the groundbreaking of a massive mall the company is building there.
SEOUL—A
record number of foreign tourists visiting South Korea in recent years has
fueled in Seoul what property developers are calling the biggest hotel boom in
the country's history. But some industry participants say an overreliance on
visitors from China and Japan leaves South Korea vulnerable to future
overcapacity.
As
the Chinese economy continues to boom, Chinese are looking abroad to spend
money on real estate.
TOKYO—Some
of Japan's pension funds are moving into the country's newly hot real-estate
market in search of higher profits.
As
Europe slowly recovers from its worst financial downturn since World War II,
tensions are intensifying in Germany, France and the U.K. over new efforts to
regulate rents
MultiFamily
MIAMI—Cranes
are again rising over this city, as the poster child for the real-estate
collapse enjoys a new condominium boom fueled by foreign investors looking to
park their money in U.S. real estate.
BEAVERTON,
OR-HFF has closed the sale of Waterhouse Place, a 279-unit, garden-style
multi-housing community here. HFF marketed the property on behalf of the
seller, a joint venture between Guardian Real Estate Services and a value-added
fund advised by UBS Global Asset Management.
I
reflect on my visit to the 2008 Urban Land Institute Fall Meeting in Miami,
when a deep financial gloom was setting-in and 22,200 condos were shiny-new,
but very vacant
IRVINE,
CA-Creative new concepts in senior housing will be the key to catching the big
wave of approximately 10,000 Baby Boomers a day turning 65, according to Manny
Gonzalez, principal with KTGY Group Inc., a locally based architecture and
planning firm
After
World War II, insurance giant MetLife Inc. MET +0.77% transformed 80 acres of
land in Manhattan into two sprawling apartment complexes with more than 11,000
units for returning veterans.
DISTRESSED
WASHINGTON,
DC-Two separate reports add to the growing picture of health that is commercial
real estate finance
SAN
FRANCISCO-While there are many encouraging signs of recovery in the commercial
real estate market ranging from rising property values to increasing mortgage
originations, investors should be aware that there is also a great deal of CRE
debt set to reach maturity in the next several years…
IRVINE,
CA-While overall US foreclosure activity is down 23% year-to-date through
October 2013, foreclosure activity on homes in the $5 million-plus value range
is up 61% from the same time period in 2012….
A
tax break for struggling mortgage borrowers ends Jan. 1 and that could mean big
tax bills -- and financial hits for their neighbors.
KKR
KKR -0.30% & Co. expects to complete raising a $1.5 billion real-estate
fund this week, say people familiar with the firm, the latest sign that some
large investors are regaining an appetite for riskier real estate.
REITs’
Involvement in Net Lease Growing
LOS ANGELES-REITs are becoming
increasingly more attracted to net lease transactions as the sector proves
itself stable, Michael Weil, president of American Realty Capital, tells Carrie
Rossenfeld in this EXCLUSIVE video interview during RealShare Net Lease West.
The
Pros and Cons of REITs
MIAMI—Where are the
opportunities and challenges for commercial real estate REITs? What’s the
long-term outlook for the REIT sector?
REIT
Sectors to Watch in 2014 and Beyond
MIAMI—Some say now is not the
right time for REITs—that it’s time to reduce REIT holdings. Others say now is
the perfect time. Who’s right?
REIT
Grabs $53M Net Leased Portfolio
MIAMI—Lexington Realty Trust
aquired a portfolio of 10 retail locations leased to BluePearl Veterinary
Partners, a 24-hour emergency pet care provider. The sale price is $52.6
million.
ARC
Healthcare REIT Will Trade on National Exchange
NEW YORK CITY-Having told
investors this past summer that AR Capital LLC was moving away from non-traded
net lease REITs, Nicholas Schorsch said late Friday afternoon that a non-traded
REIT…
Commercial
Property Prices Rise 1%
NEWPORT BEACH, CA-Commercial
property prices have virtually remained the same, rising only 1% in November,
reports Green Street Advisors Inc., an independent research, trading and
consulting firm concentrating on REITs….
A
Remarkable Story
A bit of history . . . I was a
newly minted NYSE REIT chief financial officer in 1994, and I had the pleasure
of attending a dinner during a NAREIT conference hosted by Wells Fargo’s real
estate banking team.
NEW YORK CITY-The metro area
economy has outpaced both expectations and the nation in recovering from the
downturn, a level of performance that tops the list of six megatrends for the
city, Delta Associates’ Alexander Paul said in a presentation…..
Some of the nation's largest
banks will offer loans that don't conform to new gold-standard lending
definitions under sweeping mortgage regulations set to take effect next month,
reversing course after industry leaders had earlier suggested that banks might
further curtail lending.
PALO ALTO, CA-Crowdfunding
platforms are proving to be highly popular among individual investors
interested in commercial real estate transactions.
DENVER-Following historic
seasonal trends, October home sales edged 2.8% lower than September, but still
pushed 2.2% higher than sales in October 2012, RE/MAX reports. Median home
prices were 11.9% above prices seen last October.
Few things are as consistent in
the U.S. home-building industry as the annual hope trade, in which investors
bid up the stocks of home builders each winter in anticipation of a robust
spring season for home sales.
CHICAGO—Retail builders have
spent many of the post-recession years just getting by on smaller projects such
as luxury-oriented retail, which retained much of its demand, but 2014 may have
something better in store.
SANTA ANA, CA-A new trend of
certain industrial properties being repositioned as retail and showroom
properties is emerging in Orange County.
IRVINE, CA-Maximus Advisors
reports that just three metros have cut payrolls over the past six months,
although the firm’s acceleration index has lost steam over the past two months,….
December 3, 2013
ALTA reported title insurance premium volume
rose 14 percent during the third quarter of 2013 when compared to the same
period a year ago.
WASHINGTON, DC-Offering more evidence of
normalizing markets five years after the capital markets collapse, defeasance
is back as a going concern.
NEW YORK CITY-With retail properties
accounting for 19% of total US investment sales volume year-to-date, Jones Lang
LaSalle is predicting a 20% increase in transaction volume next year….
Luxury home builder Toll Brothers Inc. TOL
-1.15% caters to affluent customers who typically aren't deterred by price
increases. But even the wealthy have their limits.
IRVINE, CA-Reducing real estate costs is the
top motivator for workplace change initiatives, according to Rick Cleveland,
managing director, research and strategy, for Cushman & Wakefield.
The strength of the housing recovery was a
welcome surprise this year. If forecasters are correct, the sector is finally
ready to start picking up the rest of the economy in 2014.
That's because the market is changing in
important ways.
RE Blogs Education
LOS ANGELES-When considering net lease
investments, go with a company rather than a particular property for the best
strategy, Gordon DuGan, CEO and director of Gramercy Property Trust, told
Carrie Rossenfeld in this EXCLUSIVE video interview during RealShare Net Lease
West.
Ronald L. Bueing, Partner at Pivotal Law
Group, PLLC;
Many remote sellers breathed a sigh of relief
when the U.S. House of Representatives failed to take action on the Marketplace
Fairness Act passed by the U.S. Senate last year.
Job Opportunities
UBS GLOBAL REAL ESTATE
Asset Manager
(SOUTHLAKE, TX)
HFF, L.P.
Real Estate Analyst
(NEW YORK, NY)
CBRE
Sr. Managing Director, Regional Facilities
Management, West Region
(LOS ANGELES, CA
ULI
Director, Resiliency
(WASHINGTON, DC)
