Posts
Calendar
of Events
RealShare
National Investment and Finance
DATE:
June 17-18, 2013
TIME:
06:00PM - 4:00PM
LOCATION:
The Westin Gaslamp Quarter, San Diego
SIOR
Spring World Conference
Wednesday,
May 01, 2013
NAR Mid-Year Meetings & Expo
Monday,
May 13, 2013
64th World Congress Taiwan
Friday,
May 24, 2013
Friday,
May 24, 2013
Local
Faces
of Sodo: The story of a changing Seattle neighborhood (slide show)
Investor
Chris Hansen. Arena. Seattle's Sodo district.
Have
the image?
Slide
it to one side of your mind.
Little-known
European fund plans three residential high rises on Seattle’s First Hill
For
a group that’s developing three skyline-changing high rises on Seattle’s First
Hill, the European pension fund called Alecta isn’t well-known around town.
Emeritus
socked with $23M California verdict
Seattle-based
senior-living center company Emeritus Corp. was hit with a $23 million verdict
by a Sacramento, Calif., jury last week in a case involving the death of an
81-year-old woman.
Schuster
Group plans second Belltown apartment tower next year
The
Schuster Group, a commercial real estate development company that is building
an apartment tower in Seattle’s Belltown, plans to start construction next year
on a second tower a block away, CEO Mark R. Schuster said.
$15M
cleanup of biotech parcel in Seattle’s South Lake Union is “shocking”
Workers
cleaning up a contaminated block in Seattle's South Lake Union neighborhood are
taking a page out of Ben Franklin’s playbook.
Financiers
worry Seattle’s apartment boom is overdone
Developers
will open more apartments in the Seattle area this year than they have in any
of the previous 20.
SEATTLE-US
ports must secure $3.6 trillion by 2020 for infrastructure improvements
competitive as global trade patterns change in the wake of the Panama Canal
Expansion
SEATTLE-As
GlobeSt.com previously reported, US ports must secure $3.6 trillion by 2020 for
infrastructure improvements competitive as global trade patterns change in the
wake of the Panama….
SEATTLE—Marcus
& Millichap Real Estate Investment Services, has arranged the sale of
Elliott Bayview Apartments, a 41-unit apartment building in Seattle.
Skanska
USA was one of the winners Monday when Seattle City Council members tipped
their hands on how they will vote on the the South Lake Union rezone.
SEATTLE—The
dynamic market for high quality apartment investments continues into 2013 as
CBRE represented Equity Residential’s $94 million sale of Archstone Belltown,
the 360-unit complex which sits in Seattle’s Belltown neighborhood.
On
Monday, members of the Seattle City Council spent about an hour tying up the
many loose ends of the South Lake Union rezoning process that will bring much
larger buildings and even more growth to the 340-acre neighborhood between
Denny Way and Lake Union
In
a matter of minutes, a Seattle City Council committee on Wednesday approved
plans for a 307-unit apartment project next to the Mount Baker light-rail
station.
For decades, the area
just south of San Francisco's City Hall was a grimy strip of aging midrise
buildings pockmarked with payday-loan shops and panhandlers. But over the past
two years, technology companies have gobbled up office space in the area, known
as Mid-Market.
Just a day after
closing on the $192 million acquisition of land in downtown San Francisco,
Boston Properties and Hines joined city officials for a ceremonial
groundbreaking of the Transbay Transit Tower…
Slowly but steadily,
the redeveloped World Trade Center site's signature 104-story tower is looking
less like a construction project and more like the tallest skyscraper on
Manhattan's skyline.
Businesses moved
slowly to fill office space in the first quarter, reflecting continued caution
about the economic recovery.
An additional 4
million square feet of office space was leased during the quarter, increasing
the amount of occupied space by just 0.12%, according to real-estate research
service Reis Inc. REIS -0.33%Asking rents increased 0.7% to $28.66 a square
foot annually, while the national office vacancy rate fell to 17% from 17.1%
Cambridge, Mass., the
home of MIT MITDD -12.50%and Harvard, is requiring real-estate developers to
set aside low-cost office space for new entrepreneurs and startups, which are
being edged out of the city's booming tech hub by high rents.
Blackstone Group LP
BX +1.67%wants to dive deeper into commercial-property lending.
The private-equity
giant is looking to bulk up Capital Trust Inc., CT -1.56%a publicly traded
commercial-mortgage lender it took control of late last year, becoming the
latest entrant into the growing field of nonbank commercial-mortgage lenders.
LOS ANGELES-The new
California law designed to add protection against predatory lawsuits will have
landlords and tenants taking a closer look at their commercial lease agreements
before it kicks in on July 1.
With real-estate
values on the upswing, the age-old battle between development and preservation
is heating up again in some cities. In El Paso, Texas, development has won the
latest skirmish.
Investors are paying
up to be in West Los Angeles.
A group led by
Tishman Speyer Properties LP has received multiple bids topping $660 a square
foot for a new office complex in Los Angeles's Playa Vista neighborhood, say
real-estate executives familiar with the bids.
The company that
pioneered the boutique hotel concept has become the spoils of a battle between
two big names in investing and real estate.
Despite the austerity
mood in Washington, President Obama's proposed budget would provide tax relief
to some foreign investors, a move the U.S. real-estate industry has been
seeking for years.
The American Land
Title Association (ALTA) reported $11.4 billion in title insurance premiums
written during 2012, up nearly 21 percent from 2011, according to the
association’s Year-End and Fourth-Quarter Market Share Analysis.
Watch
out Canary Wharf, Moscow City is rising.
Five
years after grinding to a halt during the global economic crisis, the ambitious
real-estate development in Moscow is fast becoming a reality. If all goes
according to plan, by the end of 2014 the Russian capital will hold claim to
four of the five tallest buildings in Europe.
Moscow
office-building owner O1 Properties was founded less than three years ago, but
the company already has raised hopes in the Russian real-estate business that
it will help overcome the industry's Wild West reputation.
Blackstone
Group LP BX -2.34%is upping the ante in Asia, looking to raise the largest
real-estate fund ever devoted to the region at a time when economic growth
there shows signs of slowing.
Europe
Morgan
Stanley's MS -2.67%real-estate fund business, which is trying to rebound from a
few tough years, has turned its attention to a new frontier: shop-starved
cities in Russia.
Survey:
European RE Investors Regain Confidence
I&P Real Estate
EUROPE - Real estate investors in Europe are
slowly regaining confidence and plan to increase investment in 2013, but a
desire for healthy returns could be reined in by shrinking credit markets,
according to a survey.
Union Investment's latest property investment
climate study shows a clear upward trend in confidence for Germany, France and
the UK for the first time since 2010, with Ireland surprisingly emerging on
investors' radar.
PIMCO
Sees Opportunity in European Commercial Property
By Sam Forgione
(Reuters) - The head of PIMCO's mortgage
credit portfolio management team said the firm is targeting direct commercial
real estate investments and non-securitized loans, which carry greater risk but
higher return potential.
KKR
Said to Debut Real Estate Fund with 500 Million
Bloomberg
Ralph Rosenberg, a former partner at Goldman Sachs Group Inc.,
joined KKR as head of real estate in 2011. In an interview in November,
he said KKR plans to invest in Europe and was bidding on deals in London
that would finance construction of rental.
Mexico
Mexico's New National Tourism Policy
By Mario Piana Y.
López Velarde,
Heftye y Soria, S.C.
As
promised in his presidential campaign, on February 13, 2013, the President of
Mexico, Enrique Peña Nieto, officially announced the new National Tourism
Policy, which determines the federal strategy on tourism matters. President
Peña has reiterated that development of the tourism industry will be one of the
priorities of his administration.
|
PREI Combines Industrial Funds;
Launches Publicly-Traded Fibra in Mexico
Fort Mills Times
MEXICO CITY --
Prudential Real Estate Investors-sponsored
Terrafina (BMV: TERRA13), has raised MXP8.3 billion (US$665
million) in its initial public offering, PREI® announced today. Terrafina is a Mexican real estate
investment trust known as a fideicomiso de bienes raíces, or Fibra.
PREI is the real estate investment management and advisory business of
Prudential Financial, Inc. (NYSE:PRU).
|
Luxury-goods
giant LVMH Moët Hennessy Louis Vuitton MC.FR +0.76%has a plan to mix class and
mass tourism in the heart of Paris.
With
the U.S. housing market recovering, some investors are looking across the
Atlantic for opportunities in the U.K. housing market, as well.
Seattle-based
Columbia Pacific will work with one of China’s largest real estate developers
to build retirement communities in Beijing, the companies said on Tuesday.
MÁLAGA,
Spain—Facing a bank eviction, Pepi Cáceres began to pack up her family's
belongings to move when they were spared at the last minute by a decree by the
leftist leadership of Andalusia, Spain's largest autonomous region.
MultiFamily
DENVER—Construction
has been started on a multifamily apartment community in the Denver Tech Center
that will offer residents luxury housing with easy access to employment,
restaurants, retail, and is set within the Cherry Creek School District, The
Picerne Group announced Tuesday.
Apartment
rents continued to rise in the first quarter, but signs are mounting that
landlords' leverage could be lessening as new supply floods the market and the
single-family housing market heals.
SEATTLE—Marcus
& Millichap Real Estate Investment Services, has arranged the sale of
Elliott Bayview Apartments, a 41-unit apartment building in Seattle.
HONOLULU—Plans
are in place and a contractor selected for an ultra luxury multifamily complex
called One Ala Moana. The project is located 1450 Ala Moana Boulevard.
LOS
ANGELES-If multifamily housing here was a weather report, the forecast would be
partly sunny. That’s the assessment of a new team at CBRE brought on to take
care of institutional clients in sales of large apartment properties in the
western U.S.
In
a matter of minutes, a Seattle City Council committee on Wednesday approved
plans for a 307-unit apartment project next to the Mount Baker light-rail
station.
DISTRESSED
Up
for grabs: a 76-foot deep cylindrical hole in the heart of Chicago.
First-round
bids are due April 23 on a soured loan backed by the site of what was once to
be the country's tallest skyscraper. About five years after construction
stopped on the planned 150-story Chicago Spire luxury residential tower, an
Irish government agency has put the note formerly held by the defunct Anglo
Irish Bank Corp. on the block.
LONDON—Tesco
TSCO.LN -1.16%PLC on Wednesday counted the cost of years of ambitious expansion
under former chief Terry Leahy, as the U.K. supermarket operator's profit for
the year was all but wiped out by payments to clean up its domestic business
and a charge related to its failed U.S. venture.
A
swath of the Los Angeles skyline is trading hands as office-tower owner
Brookfield Office Properties Inc. BPO.T -0.60%has reached a deal to buy MPG
Office Trust Inc., MPG -0.32%the largest office landlord in the city's
downtown, the companies said Thursday.
LPS'
"First Look" Mortgage Report: March
Month-End Data Shows Continued Decline in Delinquency Rate, Slight Drop in
Foreclosure Inventory
JACKSONVILLE, Fla., April 23,
2013 /PRNewswire/ -- Lender Processing Services, Inc. (NYSE: LPS), a leading
provider of integrated technology, data and analytics to the mortgage and real
estate industries, reports the following "first look" at March 2013
month-end mortgage performance statistics derived from its loan-level database
representing approximately 70 percent of the overall market.
Warning:
Property Foreclosures Ahead
Many small firms that own commercial
property are facing big trouble. The
problem is simple: Banks typically re-evaluate commercial mortgages every five
to 10 years.
Real-estate investment trusts enjoyed their
best quarter since the first three months of 2012, but the REIT sector
underperformed the broader stock market as investors developed a greater
appetite for risk.
For months, Jeff Blau, chief executive of
development giant Related Cos., talked to banks about financing Related's
planned 895-foot office tower on Manhattan's West Side.
A charged takeover battle for Cole Credit
Property Trust III, a private real-estate company with $8 billion in assets,
ended last week when Cole rejected a rival's bid to buy the company.
U.S. real-estate investment trusts are big in
Japan. That could turn into a problem for U.S. investors.
In a low-return world, the steady dividends
U.S. REITs provide have made them an investor favorite, especially in Japan,
where the central bank is going all out to end two decades of stagnation that
has left an aging population desperate for income.
NEW YORK CITY-All REITs are not created equal
was the main message conveyed by the illustrious speakers on the REIT Power
Panel, part of the RealShare Net Lease conference
A powerful congressional committee is
examining the tax exemption that real-estate investment trusts have enjoyed for
decades as part of its comprehensive review of the tax code.
WASHINGTON—A panel of top financial
regulators is targeting mortgage real-estate investment trusts as a potential
risk to the U.S. financial system, the latest example of Washington's growing
concern with market bubbles.
Regulators are casting a skeptical eye on a
fast-expanding corner of Wall Street amid worries about the risks posed by
mortgage real-estate investment trusts.
Citing a strong first-quarter performance by
its wood products division and a stronger housing market, Weyerhaeuser Co.
reported net earnings rose to $144 million, or 26 cents per diluted share, from
$9 million, or 2 cents per share a year earlier.
Some of the nation's largest housing-related
nonprofit organizations are delving into the for-profit world to protect
affordable housing.
Asking prices on single-family
homes rose in March, while high inventory flattened out rent prices, according
to Trulia’s Price and Rent Monitors.
Boom times are bringing rapid
growth to the North Dakota towns benefiting from oil shale: tens of thousands
of newcomers, thousands of new jobs, new tax revenues—and soaring real-estate
prices.
Investors in single-family rental
housing face the brightest prospects for steep returns in a string of cities in
the Midwest and South, many of which were hit hard in the economic downturn,
according to a study released Wednesday.
A year ago, Nate Nathan, an
Arizona land broker, struggled in vain to sell several hundred home sites in
Vistancia, a new-home community about 15 miles from downtown Phoenix. He listed
the lots for $54,000 apiece, but no buyers would offer more than $45,000.
A Colorado Springs, Colo., office
portfolio is testing investor concerns over federal spending cuts.
Corporate Office Properties Trust
OFC +1.25%—a Columbia, Md., real-estate investment trust and office landlord to
government agencies and defense contractors—is getting bids this month on 16
Colorado buildings.
The American Land
Title Association (ALTA) reported $11.4 billion in title insurance premiums
written during 2012, up nearly 21 percent from 2011, according to the
association’s Year-End and Fourth-Quarter Market Share Analysis.
Arthur Patterson received an
unusual request from a real-estate agent in February: Would he consider selling
his two-bedroom townhouse in Seattle's Ballard neighborhood to a buyer ready to
place an offer—even though the home wasn't on the market?
Mortgage lending is set to shrink
40 percent in 2014 compared to 2012, according to the Mortgage Bankers
Association. This follows after last year’s record profits for many lenders,
mostly attributed to a refinancing boom. But that refinancing boom appears to
be subsiding as refis are set to drop to their slowest pace since 2008.
PORTLAND, OR—Craig Reinhart,
Chris Elsenbach, and Matt Newstrom of Cresa Portland recently represented
Webtrends, a global leader in digital marketing intelligence—in a 64,676 SF
office lease
