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Calendar
of Events
SMBA Income Property Lunch -
Vanishing Single Family Lot Supply - the Lot Availability Crisis
Thursday, September 5, 2013
Harbor
Club Bellevue
777
108th Ave - 25th Floor
Bellevue,
WA 98004
September
5, 2013
Tax Savings
Advice for Business Owners and Investors!
Join
us in a webinar covering some of the best strategies to reduce your taxes and
increase your wealth using simple investing and financial planning techniques!
Webinar is being hosted by a Nationally Recognized and published CPA!
Diane Kennedy Webinar - Great Blue Capital LLCgreatbluecapital.com
On September 5th you will have the option to learn from one of the smartest
and most published CPA’s in the field of wealth creation and preservation
through the application of tax savings strategies. I am looking forward to this
call with Diane...
RealShare Comes
to the Bay Area September 11
RealShare
is back in the Bay Area September
11th. Our half day event is covering
everything hot in the commercial real estate market and how you can realize the
best opportunities.
Topics
Include:
-
Development Trends and strategies in the greater Bay Area
-
Multifamily opportunities in leasing, investment, property management and
development
-
What's driving demand in office space and how tech tenants have shaped the
needs of corporate America across the country
September 18th
12410
SE 32nd Street
Bellevue,
Washington 98005
Tuesday, September
03, 2013
Thursday, September
19, 2013
Monday, October 14,
2013
Wednesday, November
06, 2013
Wednesday, November
06, 2013
Local
Fidelity
Mid Year Fact Sheet
The
second quarter results continue to highlight the earnings power of our title
business. The LPS acquisition will
create an even larger, broader, more diversified and recurring revenue base for
FNF going forward.
Redevelopment
of Seattle Times property will start immediately
The
new owner of The Seattle Times’ old headquarters building said Wednesday that
his company plans to start developing the property soon.
Hudson
Pacific pays $106.4 million for Met Park North
Spear
Street Capital has sold the Met Park North office building in Seattle's South
Lake Union, where Amazon.com has leased space, to Hudson Pacific Properties for
$106.4 million, records show.
Haggen
closing grocery stores in Bellevue and Shoreline
Bellingham
grocer Haggen Inc. is closing two Puget Sound-area stores — in Bellevue and in
Shoreline — in the next two months.
Real
estate developer, girlfriend guilty in tax evasion case
Former
real estate developer Winston Bontrager, 64, and his girlfriend Pauline
Anderson, 65, were convicted in a Seattle court Wednesday of 25 counts of tax
evasion.
Hazelrigg
indicted for tax evasion, fraud
Former
Bellevue developer and Michael R. Mastro creditor Thomas R. Hazelrigg III, 67,
has been indicted for tax evasion and Social Security fraud.
Redmond
Town Center sells retail component; changes in store
Investment
adviser DRA Advisors and JSH Properties Inc. of Bellevue has acquired the
retail portion of Redmond Town Center.
Zillow
shares dip after disappointing Q2 loss
Shares
in Zillow Inc. fell more than 8 percent in early Wednesday trading after the
Seattle online real estate company reported a second-quarter loss of $10.2
million, or a loss of 30 cents per diluted share, on Tuesday.
Seller's
market: home sales and prices rise; supply falls
Home
sales percolated higher in July, with pending sales, closed sales and prices
all substantially higher than the same month in the previous year in most
counties of Washington state.
Developer
gets preliminary OK for 7-story Seattle project already under way
A
Bellevue-based real estate company cut it close when it started building a
seven-story mixed-use project in Seattle without the city’s full OK.
High
price paid for former liquor warehouse in South Seattle
The
state’s old liquor distribution center in South Seattle sold for $104 a square
foot, one of the highest priced deals ever in King County, according to real
estate data company CoStar.
Lease
deal close for former Amazon HQ building
A
deal is close to have the Washington State Department of Commerce lease 13
floors of the historic Pacific Hospital building on Beacon Hill in Seattle,
which used to be headquarters for Amazon.com Inc.
Weyerhaeuser
home-building unit sale looms
Weyerhaeuser
Co. is generating lots of interest in the possible sale of its home-building
unit for an estimated price of more than $3 billion.
City
of Seattle may limit apartment projects in Pike/Pine area
At
least two groups are seeing red over a city plan that would rein in development
of big apartment buildings in the Pike/Pine part of Seattle’s Capitol Hill.
Downtown
Seattle modular apartment project on the fast track
Normally
it would take more than a year to construct a mid-rise apartment project in
downtown Seattle, but a crew from Charter Construction expects to do it in just
seven months.
Plans
by timber conglomerate Weyerhaeuser Co. to market its home-building unit,
valued at more than $3 billion, accelerated last week as prospective bidders
submitted preliminary expressions of interest in a deal, according to people
familiar with the matter.
Zillow
Inc. said it's buying StreetEasy, a real estate website in New York City, for
$50 million.
After
a 20-year hiatus, developers plan three new major office towers in Seattle’s
central business district. But traditional tenants aren’t expanding as rapidly
and there’s still plenty of vacant floors in landmarks like the Columbia
Center.
Only
one real estate group expressed interest this week in buying Tacoma’s top
development site, a nearly 6.5 acre parcel next to the University of Washington
branch campus
An
estimated 28 percent of Seattle homeowners were underwater on their mortgages
in the second quarter of this year, Zillow Inc. said in a research report.
Fidelity
Mid Year Fact Sheet
The
second quarter results continue to highlight the earnings power of our title
business. The LPS acquisition will
create an even larger, broader, more diversified and recurring revenue base for
FNF going forward.
The company's $4.4
billion global real-estate fund has agreed to acquire Industrial Developments
International Inc., an owner of 27 million square feet of warehouses,
distribution centers and other industrial property.
MINNEAPOLIS—The
Minneapolis-St. Paul commercial real estate market recorded a strong first half
of 2013 as the economy continued to improve and development activity
significantly increased,
Blackstone Group LP,
BX -0.26%one of the biggest real-estate owners in the U.S., is preparing to
sell billions of dollars of property, the latest sign that commercial property
values are back to levels not seen since the economic downturn.
For the first time
since November 2012, asking home prices decreased month-over-month, slipping
0.3 percent from June to July, Trulia reported.
Prices for
single-family homes climbed in 87 percent of U.S. cities in the second quarter
as the national housing recovery accelerated amid competition for a limited
number of properties on the market.
SAN DIEGO-Common
leasing incentives, such as free rent and generous tenant improvement
allowances are diminishing as the better class-A space are becoming scarce.
SACRAMENTO-After
balancing the budget earlier this year, State agencies with green on their
ledger actively sought to execute deferred real estate decisions and expand
their footprint in the Sacramento region accordingly.
CHICAGO—“We’re
expanding everywhere, especially the Midwest,” says Rajiv Trivedi, the
executive vice president and chief development officer for LQ Management, LLC,
which operates and provides franchise services to La Quinta Inns.
The industrial
markets in the city of Chicago and its immediate suburbs always attract notice.
But just over the state’s northern border, and still just within the city’s
metropolitan area, residents in Wisconsin towns like Kenosha and Pleasant
Prairie….
TAMPA, FL—Self-storage
properties are still a hot commodity in Florida. Quality Self Storage just sold
for $4.4 million.
An Abu Dhabi
government fund is nearing a deal to buy three Marriott International Inc. MAR
-0.12%hotels under development, say people familiar with the matter, a vote of
confidence in the company's new lifestyle brand that has been struggling to
gain traction.
PANORAMA CITY,
Calif.—On a recent Sunday, Spanish-speaking families swarmed the Panorama Mall
here in the outskirts of Los Angeles for an afternoon of Latino entertainment.
ONTARIO, Calif.—At a
500,000-square-foot warehouse here, newly arrived shipments of New Balance
shoes whiz down conveyor belts and spiral chutes to be scanned, sorted, packed
into larger boxes and shipped to far-flung destinations.
Two months ago, Miami
real-estate magnate Jorge Perez told city commissioners that he and his
partners planned to spend "way over a billion" dollars to build
hotels, shops and a marina on Watson Island, a tiny slice of land that sits in
Biscayne Bay between Miami and Miami Beach
In the troubled Blue
Hills neighborhood of Kansas City, Mo., a sprawling, weedy lot has become a
symbol of the risks of urban retail projects.
Some of the millions
of students heading back to college—and their parents—are finding a pleasant
surprise: Landlords nationwide are cutting rents because of an oversupply of
student housing in college towns.
Brookfield Office
Properties Inc. BPO.T +0.36%is poised to become the biggest office landlord in
downtown Los Angeles, a long-sterile area that is beginning to see a rebirth
from thousands of new apartments, a burst of hotel construction and even a
burgeoning restaurant scene.
Fidelity
Mid Year Fact Sheet
The
second quarter results continue to highlight the earnings power of our title
business. The LPS acquisition will
create an even larger, broader, more diversified and recurring revenue base for
FNF going forward.
FRANKFURT—German
property company Deutsche Wohnen AG DWN.XE +5.63%announced a takeover bid for
rival GSW Immobilien AG GIB.XE +0.46%in a transaction that would establish the
country's second-largest property group by market capitalization.
MADRID—Spanish
officials managing soured assets from the country's real-estate collapse
announced their first big property deal, choosing Miami-based private-equity
firm H.I.G. Capital to buy a majority stake in a package of 939 homes known as
Project Bull.
On a
sprawling patch of sand near downtown Abu Dhabi, thousands of workers are
building the foundations of a new $3 billion international airport terminal,
which planners believe will spark major real-estate development in the surrounding
area.
London's
Heathrow Airport is at a breaking point. Unable to meet enormous demand for
more flights, the U.K.'s biggest airport needs to undergo a significant
expansion to avoid losing its status as a European transport hub.
One
afternoon last month, a group of young Catholics sang and played instruments at
Brasilia's airport to welcome fellow Christians who were arriving to witness
the visit to Brazil of Pope Francis.
SHANGHAI—Strong
profit growth at China's largest property developer by sales signals that
demand in the crucial real-estate sector remains resilient, providing a prop to
a slowing Chinese economy.
An Abu Dhabi
government fund is nearing a deal to buy three Marriott International Inc. MAR
-0.12%hotels under development, say people familiar with the matter, a vote of
confidence in the company's new lifestyle brand that has been struggling to
gain traction.
PARIS—In
the empty corridors of the 40-floor Eqho tower in La Défense, the sprawling
business district on the western edge of Paris, a few chairs and desks sit
gathering dust.
SHANGHAI—Foreign
private-equity firms appear to be dipping their toes back into the residential
real-estate market in China, after a nearly four-year government campaign to
rein in sky-high housing prices curbed the appetite for investment in the local
housing market.
BEIJING—A
new financial center planned for Beijing, whose size would top London's Square
Mile and Manhattan's financial district combined, aims to defy doubters on the
sustainability of China's real-estate boom and the stability of its
overstretched banks.
MultiFamily
Fidelity
Mid Year Fact Sheet
The
second quarter results continue to highlight the earnings power of our title
business. The LPS acquisition will
create an even larger, broader, more diversified and recurring revenue base for
FNF going forward.
BUENA
PARK, CA-Brandywine Homes has closed escrow on its latest multifamily
development, a community of two-bedroom, single-level flats and two-story
townhomes located on 1.1 acres on Knott Ave.,
Cookie-cutter
apartment buildings are yesterday’s news for today’s under-30 crowd, one of the
largest cohorts of apartment renters in the market, according to Guy Hays,
president of locally based Legacy Partners Residential
A
recent report from the National Low Income Housing Coalition revealed a
shortage of approximately 4.6-million affordable units throughout the country,
based on the 10.1 million extremely low-income individuals in need of housing
MINNEAPOLIS,
MN-Investment activity is strong in Minneapolis-St. Paul due in part to
investors turning to second-tier cities for attractive returns on investment.
SOUTH
BEND, IN—Since at least early 2012, multifamily developments have attracted a
great deal of interest from investors, and that appeal has now spread out from
core markets to secondary and tertiary ones.
ATLANTA-The
Novare Group, Batson-Cook Development Co., and Ackerman & Co. are
partnering on a plan to build a new 26-story apartment tower near the Buckhead
MARTA station.
MIAMI—With
interest rates on the rise, and available product scarce, has the multifamily
market in South Florida finally reached a tipping point?
MIAMI—Moss
& Associates just won an $83 million construction contract on 400 Sunny
Isles. Demolition of the existing site began in July 2013 with groundbreaking
scheduled Aug. 2.
Private-equity
firm Blackstone Group LP BX +0.32%is making one of the biggest bets on rental
apartments since the financial crisis.
Reis
VP of Economics & Research, Dr. Victor Calanog, provides an update on the
apartment sector performance for the 2nd quarter of 2013.
After
years of delay, veteran developer Francis Greenburger has secured financing
that will enable him to move forward with a Helmut Jahn-designed downtown
Manhattan tower that he hopes will be one of his signature projects.
DISTRESSED
Fidelity
Mid Year Fact Sheet
The
second quarter results continue to highlight the earnings power of our title
business. The LPS acquisition will
create an even larger, broader, more diversified and recurring revenue base for
FNF going forward.
MIAMI—Multifamily
is still the darling of commercial real estate, even as buyer and seller
attitudes are improving. But could that change?
A
subprime deal came back to haunt Fabrice Tourre, a former Goldman Sachs trader,
when a federal jury in Manhattan found him liable for civil securities fraud.
When
a group led by veteran investor Barry Sternlicht paid nearly $2.8 billion in
2009 for the assets of failed commercial-real-estate lender Corus Bank, which
failed during the financial crisis, many of his competitors were sure he had
overpaid. Turns out they were wrong.
Real-estate
investment firm Hackman Capital Partners LLC is betting it can turn a sweet
profit by acquiring out of bankruptcy proceedings property and other assets
from the former Hostess Brands Inc. empire.
An
estimated 28 percent of Seattle homeowners were underwater on their mortgages
in the second quarter of this year, Zillow Inc. said in a research report.
Fidelity
Mid Year Fact Sheet
The
second quarter results continue to highlight the earnings power of our title
business. The LPS acquisition will
create an even larger, broader, more diversified and recurring revenue base for
FNF going forward.
One of the most important subsidiaries of the
Oak Brook-based Inland Real Estate Group of Companies, Inc. has just picked a
new chief executive officer.
Plans
by timber conglomerate Weyerhaeuser Co. to market its home-building unit, valued
at more than $3 billion, accelerated last week as prospective bidders submitted
preliminary expressions of interest in a deal, according to people familiar
with the matter.
Fidelity
Mid Year Fact Sheet
The
second quarter results continue to highlight the earnings power of our title
business. The LPS acquisition will
create an even larger, broader, more diversified and recurring revenue base for
FNF going forward.
North Korean leader Kim Jong Un
may unwittingly be playing a bit part in some of this year's bigger real-estate
deals.
IRVINE, CA-July’s national
unemployment rate fell short of expectations, prompting economists to entertain
the idea of a possible slowdown in job gains during the second half of the year
U.S. housing demand cooled off
considerably last month, according to Seattle online real estate company
Redfin.
Guests at the Generator in
Barcelona sip mojitos in the lounge, dine on tapas at the café, and take in the
Spanish sun from personal balconies. It may sound like a fashionable boutique
hotel, but visitors here are actually shacking up at a youth hostel.
PANORAMA CITY,
Calif.—On a recent Sunday, Spanish-speaking families swarmed the Panorama Mall
here in the outskirts of Los Angeles for an afternoon of Latino entertainment.
If you own California real estate
and are planning on deferring taxes when you sell your investment by purchasing
property in another State via a 1031 Exchange, be aware that California will
soon be tracking your future real estate transactions to determine if, at some
point, you owe California previously deferred State taxes.
…For the first time since the
financial crisis, the total value of residential and commercial construction
loans held by some 7,000 U.S. banks and thrifts ticked up on a quarterly basis….
