Posts
Real-estate calendar
Click here to connect to the Northwest’s Real Estate Calendar
Local
Fidelity National Financial Company Fact Sheet First Quarter 2012
Greystar Buys Bothell Apartment Complexes for $91M
BOTHELL, WA-King County records revealed that Greystar has acquired two neighboring multifamily properties in Bothell this week for an amount of $91 million.
South Lake Union apartment complex planned
Developers Equity Residential and Touchstone are planning a seven-story, 223-unit apartment complex in South Lake Union at a site bounded by Fairview Avenue North, Minor Avenue North and John and Thomas streets.
Goldman Sachs unit loses control of 11 Seattle-area buildings
Whitehall Street Global Real Estate, the real estate division of Goldman Sachs, has lost control of 11 Seattle and Bellevue office buildings.
Office Sector Shows Sluggish Growth
Other areas with strong tech sectors that showed improvement included San Jose, Seattle, Austin and Denver, Reis said. Those markets have all seen rents rise between 2% and 4% in the past year, the firm said.
Colorado hotel firm buying Seattle Hilton Hotel
R.C. Hedreen Co. is selling the Seattle Hilton Hotel to a Colorado-based hotel company for approximately $60 million.
Hotel Vintage Park Seattle sold for $32.5 million
The Hotel Vintage Park Seattle in downtown Seattle has been sold for $32.5 million to Pebblebrook Hotel Trust Pebblebrook Hotel Trust Latest from The Business Journals Pebblebrook Hotel Trust picks up hotels in Seattle, PortlandPortland's Hotel Vintage Plaza sold for .5MPebblebrook Hotel Trust buys hotels in Seattle, Portland Follow this company , a publicly traded real estate investment trust in Bethesda, Md.
Commercial Real Estate Leader Colliers International Expands Southeast Presence
BIRMINGHAM, Ala. and SEATTLE, July 16, 2012 /PRNewswire via COMTEX/ -- Colliers International today announced the addition of a Birmingham, Ala., office to its global operations. As part of the firm's ongoing commitment to enhancing client services, Colliers continues to expand upon its already significant presence in the southeast. The Birmingham office is among 15 others that the firm has established since 2010.
Seattle-area office markets strengthen, Colliers says
Driven by Amazon.com’s robust growth, the downtown Seattle office market continued to strengthen during the second quarter, with the vacancy rate sliding to 13.76 percent, according to a new report from the Seattle real estate firm Colliers International Colliers International Latest from The Business Journals Hillwood invests million in Southeast MemphisCommercial real estate firms hiring, despite marketSandner plans partnership with Colliers International Follow this company .
Ezralow Seeks Approval for Madison of Bellevue Apartments
BELLEVUE, WA-A real estate developer from California is planning to construct a new apartment complex in Bellevue's Crossroads area. Calabasas, California-based The Ezralow Co. is seeking design review approval from Bellevue city planners for its proposed 106-unit Madison of Bellevue apartment complex.
Commercial Real Estate Heads to Seattle for the Every Building Conference & Expo
WASHINGTON, DC, Jun 22, 2012 (MARKETWIRE via COMTEX) -- WHAT: BOMA International's Every Building Conference & Expo is the premier education and networking conference for commercial real estate professionals. Nearly 50 session, five tracks, top experts = the industry's best education. Tracks include asset management, high performance buildings, leadership and more.
Downtowner Apartments in Seattle Trades for $12M
SEATTLE-Goodman Real Estate has paid $12.56 million for Downtowner Apartments, a 240-unit complex in the Seattle's International District. The Seattle firm has bought the multifamily property from a general partnership based in New York.
National
Malkins Change IPO Terms
The family that controls the Empire State Building has changed the structure of the proposed initial public offering of the skyscraper partly in response to investor concerns that the family was getting better tax treatment than they were.
A Shore Bet on Long Island
Allen Rosenberg is getting a second chance to achieve his dream of owning an oceanfront Long Island luxury hotel about 30 miles from New York City.
Apartment Rents Rise At Fastest Pace Since 2007
MarketWatch – Don’t miss these top real estate stories – Rents, mortgage rates, condo rentals, Libor, and housing inventory.
Why Investors Are Suddenly Bullish on Office Real Estate
It should come as no surprise that the commercial real estate sector most sensitive to unemployment is office; that’s where people work.
Slow job growth has helped a little, but really only in the trophy, coastal markets, so it may come as a surprise that investors are suddenly bullish on the sector.
Why Investors Are Suddenly Bullish on Office Real Estate
It should come as no surprise that the commercial real estate sector most sensitive to unemployment is office; that’s where people work.
Slow job growth has helped a little, but really only in the trophy, coastal markets, so it may come as a surprise that investors are suddenly bullish on the sector.
Blackstone to Shed Office Empire
Private-equity firm Blackstone Group LP is preparing to unload its portfolio of U.S. office buildings, a move that would signal that one of the property sector's most active buyers is moving into a selling phase as top office markets recover.
Torchlight Doubles Down in Greenwich
In early 2007, when the downturn was but a few wisps of clouds in an otherwise blue sky, it seemed like a no-brainer for a venture of Antares Investment Partners and a Goldman Sachs Group Inc. fund to buy a Greenwich, Conn., office building for $130 million and pack it with hedge funds and other financial-services companies.
Office Sector Shows Sluggish Growth
Propelled by its booming technology sector, San Francisco saw office rents grow faster than any other U.S. market in the second quarter, according to a new report.
Brennan Investment Grabs National Industrial Portfolio for $155M
There’s little that pleases commercial real estate investors more than a fully leased building, and Brennan Investment Group L.L.C. just snapped up 20 of them in one fell swoop. In a joint venture with London-based Shariah-compliant bank Gatehouse Bank plc, the private real estate investment firm acquired a national industrial portfolio from an affiliate of AIC Ventures.
Buyers line up for Accelerated Commercial Real Estate’s Latest Offering
Aggressive property marketers Accelerated Commercial Real Estate is successful again with the quick sale of Pinnacle East Corporate Center a 17,000 sq. ft. office property at 8955 E Pinnacle Peak Rd, Scottsdale with competing buyers placing bids. Phoenix has seen its fair share of disillusionment in the property market in recent years as buyer interest has slowed and become very discretionary.
International
China Real-Estate Market Shows Improvement
BEIJING—China's battered real-estate market appears to be turning around, strengthening an important pillar of growth and reducing the chances that China's slowing economy will stall in the second half of the year
Emirate's New Boom Is Hotel Rooms .
DUBAI—This tiny emirate, renowned for building a ski slope in a shopping mall and man-made islands in the shape of a palm tree, is still recovering from a spectacular property-market collapse that scuttled many similarly extravagant projects.
Great Heights, Low Returns
DUBAI—The Burj Khalifa, more than 60% taller than any other building in the world, has firmly established itself as an international landmark—it even played a starring role in the latest "Mission Impossible" blockbuster.
Once 'Bold' Nakheel Tries a New Approach
DUBAI—Nakheel PJSC, Dubai's most prolific real estate developer before the crash, described itself in a corporate video during the boom as being "in the business of being bold."
Abu Dhabi Closes Glitz Gap With Dubai
When it comes to entertainment, shopping and over-the-top diversions, Abu Dhabi has lagged behind fellow emirate Dubai.
But a New York property developer and an Abu Dhabi government fund aim to narrow the glitz gap with a new shopping complex, five-star hotels and fine dining on Abu Dhabi's Al Maryah Island.
Marriott Makes Room for Chinese Clients
Marriott International Inc. MAR -5.97%has plenty of swanky hotels in New York, Boston and by its headquarters near Washington. But it eschewed such predictable locations for analyst presentations last month and instead held the meetings in Shanghai and Beijing.
Developer Wagers on Germany's Attraction
BERLIN—The developer of a nearly billion-dollar retail-housing complex is betting that Germany will remain a haven for investors and global retailers in turbulent economic times.
MultiFamily
Apartment Rents Rise At Fastest Pace Since 2007
MarketWatch – Don’t miss these top real estate stories – Rents, mortgage rates, condo rentals, Libor, and housing inventory.
Morningside Starts $60M Wheaton Apartments
WHEATON, IL-The Chicago-based Morningside Group, a developer of retail and multifamily properties in Illinois and Michigan, will break ground today on Wheaton 121. The $60 million property received approval early this month from the local City Council to move forward.
A Rocky Mountain Low
DENVER—Developers of a posh Four Seasons hotel-and-condominium project have come up with an effective strategy for turning around condo sales in a tough market: cut prices by as much as 60%.
PREI, Urban Pacific Turn Dirt on 52-Story Condo High-Rise in San Francisco Hotspot
With apartment vacancies dropping quarter after quarter, San Francisco is primed for new product and Principal Real Estate Investors and Urban Pacific Investors LLC are preparing to deliver. The partners just broke ground on One Rincon Hill Phase II, which will add 299 rental units to the increasingly popular South of Market District.
Ezralow Seeks Approval for Madison of Bellevue Apartments
BELLEVUE, WA-A real estate developer from California is planning to construct a new apartment complex in Bellevue's Crossroads area. Calabasas, California-based The Ezralow Co. is seeking design review approval from Bellevue city planners for its proposed 106-unit Madison of Bellevue apartment complex.
REIT BEAT
Investors Downshift on Real-Estate Stocks
Real-estate stocks that were hot at the start of the year lost some steam during the spring, an indication of growing volatility in property stocks.
Five REIT IPOs That Are Doing Well
CHARLOTTESVILLE, VA-Amid news that REIT performance slipped in June and that IPOs in general have been lagging since Facebook’s public debut, SNL offers a hopeful statistic: Since the end of June, five of the 17 REIT IPOs completed since December 31, 2009 have beaten the SNL US REIT Equity index on a total-return basis
Distressed
A Shore Bet on Long Island
Allen Rosenberg is getting a second chance to achieve his dream of owning an oceanfront Long Island luxury hotel about 30 miles from New York City.
Goldman Sachs unit loses control of 11 Seattle-area buildings
Whitehall Street Global Real Estate, the real estate division of Goldman Sachs, has lost control of 11 Seattle and Bellevue office buildings.
Highly Distressed Multifamily Beauty in the Eye of the Beholder
MIAMI-I’ve been writing about distressed assets for years--and I've witnessed some interesting strategies and even more interesting deals. But late, I’ve seen a string of so-called “highly distressed” assets in multifamily, industrial and office. It was the multifamily deals that really got my attention
RE Trends
Housing Prices Rise, but Not for Everyone
By S. MITRA KALITA And NICK TIMIRAOS
As more U.S. housing markets improve, an adage about what matters in real estate is proving true: location, location, location.
Click here to connect to the Northwest’s Real Estate Calendar
Local
Fidelity National Financial Company Fact Sheet First Quarter 2012
Greystar Buys Bothell Apartment Complexes for $91M
BOTHELL, WA-King County records revealed that Greystar has acquired two neighboring multifamily properties in Bothell this week for an amount of $91 million.
South Lake Union apartment complex planned
Developers Equity Residential and Touchstone are planning a seven-story, 223-unit apartment complex in South Lake Union at a site bounded by Fairview Avenue North, Minor Avenue North and John and Thomas streets.
Goldman Sachs unit loses control of 11 Seattle-area buildings
Whitehall Street Global Real Estate, the real estate division of Goldman Sachs, has lost control of 11 Seattle and Bellevue office buildings.
Office Sector Shows Sluggish Growth
Other areas with strong tech sectors that showed improvement included San Jose, Seattle, Austin and Denver, Reis said. Those markets have all seen rents rise between 2% and 4% in the past year, the firm said.
Colorado hotel firm buying Seattle Hilton Hotel
R.C. Hedreen Co. is selling the Seattle Hilton Hotel to a Colorado-based hotel company for approximately $60 million.
Hotel Vintage Park Seattle sold for $32.5 million
The Hotel Vintage Park Seattle in downtown Seattle has been sold for $32.5 million to Pebblebrook Hotel Trust Pebblebrook Hotel Trust Latest from The Business Journals Pebblebrook Hotel Trust picks up hotels in Seattle, PortlandPortland's Hotel Vintage Plaza sold for .5MPebblebrook Hotel Trust buys hotels in Seattle, Portland Follow this company , a publicly traded real estate investment trust in Bethesda, Md.
Commercial Real Estate Leader Colliers International Expands Southeast Presence
BIRMINGHAM, Ala. and SEATTLE, July 16, 2012 /PRNewswire via COMTEX/ -- Colliers International today announced the addition of a Birmingham, Ala., office to its global operations. As part of the firm's ongoing commitment to enhancing client services, Colliers continues to expand upon its already significant presence in the southeast. The Birmingham office is among 15 others that the firm has established since 2010.
Seattle-area office markets strengthen, Colliers says
Driven by Amazon.com’s robust growth, the downtown Seattle office market continued to strengthen during the second quarter, with the vacancy rate sliding to 13.76 percent, according to a new report from the Seattle real estate firm Colliers International Colliers International Latest from The Business Journals Hillwood invests million in Southeast MemphisCommercial real estate firms hiring, despite marketSandner plans partnership with Colliers International Follow this company .
Ezralow Seeks Approval for Madison of Bellevue Apartments
BELLEVUE, WA-A real estate developer from California is planning to construct a new apartment complex in Bellevue's Crossroads area. Calabasas, California-based The Ezralow Co. is seeking design review approval from Bellevue city planners for its proposed 106-unit Madison of Bellevue apartment complex.
Commercial Real Estate Heads to Seattle for the Every Building Conference & Expo
WASHINGTON, DC, Jun 22, 2012 (MARKETWIRE via COMTEX) -- WHAT: BOMA International's Every Building Conference & Expo is the premier education and networking conference for commercial real estate professionals. Nearly 50 session, five tracks, top experts = the industry's best education. Tracks include asset management, high performance buildings, leadership and more.
Downtowner Apartments in Seattle Trades for $12M
SEATTLE-Goodman Real Estate has paid $12.56 million for Downtowner Apartments, a 240-unit complex in the Seattle's International District. The Seattle firm has bought the multifamily property from a general partnership based in New York.
National
Malkins Change IPO Terms
The family that controls the Empire State Building has changed the structure of the proposed initial public offering of the skyscraper partly in response to investor concerns that the family was getting better tax treatment than they were.
A Shore Bet on Long Island
Allen Rosenberg is getting a second chance to achieve his dream of owning an oceanfront Long Island luxury hotel about 30 miles from New York City.
Apartment Rents Rise At Fastest Pace Since 2007
MarketWatch – Don’t miss these top real estate stories – Rents, mortgage rates, condo rentals, Libor, and housing inventory.
Why Investors Are Suddenly Bullish on Office Real Estate
It should come as no surprise that the commercial real estate sector most sensitive to unemployment is office; that’s where people work.
Slow job growth has helped a little, but really only in the trophy, coastal markets, so it may come as a surprise that investors are suddenly bullish on the sector.
Why Investors Are Suddenly Bullish on Office Real Estate
It should come as no surprise that the commercial real estate sector most sensitive to unemployment is office; that’s where people work.
Slow job growth has helped a little, but really only in the trophy, coastal markets, so it may come as a surprise that investors are suddenly bullish on the sector.
Blackstone to Shed Office Empire
Private-equity firm Blackstone Group LP is preparing to unload its portfolio of U.S. office buildings, a move that would signal that one of the property sector's most active buyers is moving into a selling phase as top office markets recover.
Torchlight Doubles Down in Greenwich
In early 2007, when the downturn was but a few wisps of clouds in an otherwise blue sky, it seemed like a no-brainer for a venture of Antares Investment Partners and a Goldman Sachs Group Inc. fund to buy a Greenwich, Conn., office building for $130 million and pack it with hedge funds and other financial-services companies.
Office Sector Shows Sluggish Growth
Propelled by its booming technology sector, San Francisco saw office rents grow faster than any other U.S. market in the second quarter, according to a new report.
Brennan Investment Grabs National Industrial Portfolio for $155M
There’s little that pleases commercial real estate investors more than a fully leased building, and Brennan Investment Group L.L.C. just snapped up 20 of them in one fell swoop. In a joint venture with London-based Shariah-compliant bank Gatehouse Bank plc, the private real estate investment firm acquired a national industrial portfolio from an affiliate of AIC Ventures.
Buyers line up for Accelerated Commercial Real Estate’s Latest Offering
Aggressive property marketers Accelerated Commercial Real Estate is successful again with the quick sale of Pinnacle East Corporate Center a 17,000 sq. ft. office property at 8955 E Pinnacle Peak Rd, Scottsdale with competing buyers placing bids. Phoenix has seen its fair share of disillusionment in the property market in recent years as buyer interest has slowed and become very discretionary.
International
China Real-Estate Market Shows Improvement
BEIJING—China's battered real-estate market appears to be turning around, strengthening an important pillar of growth and reducing the chances that China's slowing economy will stall in the second half of the year
Emirate's New Boom Is Hotel Rooms .
DUBAI—This tiny emirate, renowned for building a ski slope in a shopping mall and man-made islands in the shape of a palm tree, is still recovering from a spectacular property-market collapse that scuttled many similarly extravagant projects.
Great Heights, Low Returns
DUBAI—The Burj Khalifa, more than 60% taller than any other building in the world, has firmly established itself as an international landmark—it even played a starring role in the latest "Mission Impossible" blockbuster.
Once 'Bold' Nakheel Tries a New Approach
DUBAI—Nakheel PJSC, Dubai's most prolific real estate developer before the crash, described itself in a corporate video during the boom as being "in the business of being bold."
Abu Dhabi Closes Glitz Gap With Dubai
When it comes to entertainment, shopping and over-the-top diversions, Abu Dhabi has lagged behind fellow emirate Dubai.
But a New York property developer and an Abu Dhabi government fund aim to narrow the glitz gap with a new shopping complex, five-star hotels and fine dining on Abu Dhabi's Al Maryah Island.
Marriott Makes Room for Chinese Clients
Marriott International Inc. MAR -5.97%has plenty of swanky hotels in New York, Boston and by its headquarters near Washington. But it eschewed such predictable locations for analyst presentations last month and instead held the meetings in Shanghai and Beijing.
Developer Wagers on Germany's Attraction
BERLIN—The developer of a nearly billion-dollar retail-housing complex is betting that Germany will remain a haven for investors and global retailers in turbulent economic times.
MultiFamily
Apartment Rents Rise At Fastest Pace Since 2007
MarketWatch – Don’t miss these top real estate stories – Rents, mortgage rates, condo rentals, Libor, and housing inventory.
Morningside Starts $60M Wheaton Apartments
WHEATON, IL-The Chicago-based Morningside Group, a developer of retail and multifamily properties in Illinois and Michigan, will break ground today on Wheaton 121. The $60 million property received approval early this month from the local City Council to move forward.
A Rocky Mountain Low
DENVER—Developers of a posh Four Seasons hotel-and-condominium project have come up with an effective strategy for turning around condo sales in a tough market: cut prices by as much as 60%.
PREI, Urban Pacific Turn Dirt on 52-Story Condo High-Rise in San Francisco Hotspot
With apartment vacancies dropping quarter after quarter, San Francisco is primed for new product and Principal Real Estate Investors and Urban Pacific Investors LLC are preparing to deliver. The partners just broke ground on One Rincon Hill Phase II, which will add 299 rental units to the increasingly popular South of Market District.
Ezralow Seeks Approval for Madison of Bellevue Apartments
BELLEVUE, WA-A real estate developer from California is planning to construct a new apartment complex in Bellevue's Crossroads area. Calabasas, California-based The Ezralow Co. is seeking design review approval from Bellevue city planners for its proposed 106-unit Madison of Bellevue apartment complex.
REIT BEAT
Investors Downshift on Real-Estate Stocks
Real-estate stocks that were hot at the start of the year lost some steam during the spring, an indication of growing volatility in property stocks.
Five REIT IPOs That Are Doing Well
CHARLOTTESVILLE, VA-Amid news that REIT performance slipped in June and that IPOs in general have been lagging since Facebook’s public debut, SNL offers a hopeful statistic: Since the end of June, five of the 17 REIT IPOs completed since December 31, 2009 have beaten the SNL US REIT Equity index on a total-return basis
Distressed
A Shore Bet on Long Island
Allen Rosenberg is getting a second chance to achieve his dream of owning an oceanfront Long Island luxury hotel about 30 miles from New York City.
Goldman Sachs unit loses control of 11 Seattle-area buildings
Whitehall Street Global Real Estate, the real estate division of Goldman Sachs, has lost control of 11 Seattle and Bellevue office buildings.
Highly Distressed Multifamily Beauty in the Eye of the Beholder
MIAMI-I’ve been writing about distressed assets for years--and I've witnessed some interesting strategies and even more interesting deals. But late, I’ve seen a string of so-called “highly distressed” assets in multifamily, industrial and office. It was the multifamily deals that really got my attention
RE Trends
Housing Prices Rise, but Not for Everyone
By S. MITRA KALITA And NICK TIMIRAOS
As more U.S. housing markets improve, an adage about what matters in real estate is proving true: location, location, location.
