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SEATTLE—In
the early 1990s, as Microsoft Corp. MSFT -0.92% co-founder Paul Allen began
placing large bets in the technology boom, he made a relatively small loan of
$20 million to an organization that was planning a giant park in Seattle.
A
coveted property in downtown Bellevue that’s ripe for redevelopment is on the
market.
LOS
ANGELES-GlobeSt.com has learned exclusively that multifamily investors are
making an aggressive push westward into Seattle, Phoenix, Los Angeles and San
Diego, according to Jones Lang LaSalle’s third-quarter 2012 West Coast
Multifamily Outlook
The
seven-story, 100-unit Muriel's Landing Apartments complex will open next week
in Seattle's University District.
Briar
Development, a real estate holding company for the Bellingham-based Haggen
family, has sold a portfolio of retail properties in Washington and Oregon for
$175 million to MGP X Properties LLC of San Diego
Goodman
Real Estate and Capri Capital Partners LLC announced Tuesday that they’re
buying the 25-story Tower 801 apartment building in downtown Seattle for $50.1
million
A
federal grand jury today indicted Michael R. Mastro and his wife Linda Mastro
on 43 counts of bankruptcy fraud, dramatically raising the stakes for the
Seattle developer, only recently arrested after eluding authorities for more
than a year.
The
spectacle of an 87-year-old Seattle developer and his wife — owner of a pair of
queen-sized diamond rings — being apprehended in the French Alps after leaving
behind a flock of American creditors couldn’t help but make international
headlines.
Sometimes
in commercial real estate, a lot of little numbers can add up to a big one.
Beacon
Capital Partners submitted plans last week for a shorter office tower for a
site at Northeast Eighth Street and 110th Avenue Northeast, a city of Bellevue
planner said.
BELLEVUE,
WA-Despite naysayers back in 2010, Cole Real Estate Investments went ahead with
its purchase of City Center Plaza here for $310 million from Boston-based
Beacon Capital Partners, a property that it said at the time was “a rare
opportunity.”
With
little, if any, new office space coming on line, and demand increasing, there’s
a good chance Skanska USA could start building the 400 Fairview office project
next spring even without a tenant lined up.
TIAA-CREF
acquired the Aspira Apartments at 1823 Terry Ave. in Seattle, WA for $165.67
million, or about $$510,000 per unit, from Urban Partners LLC, O'Connor Capital
Partners and Real Estate Capital Partners.
The
Washington chapter of commercial real estate group NAIOP named Wallace
Properties Developer of the Year. The awards were handed out Friday in
Bellevue.
A
300-unit apartment building is being planned for the site of the Phil Smart
Mercedes dealership at the corner of East Pike Street and Belmont Avenue in
Seattle
The commercial real
estate sector is improving, but investors need to be patient and not expect
“quick wins,” according to findings from Emerging Trends in Real Estate 2013,
which was jointly released by PwC and the Urban Land Institute (ULI).
A retail redevelopment
project under way in San Diego is converting a former police headquarters
complex into restaurants, shops and entertainment venues.
A booming tech sector
in San Francisco has made its office-building owners the envy of commercial
real-estate industry.
Now developers are
starting to move in.
The communities
surrounding college campuses have long been filled with houses catering to
students who have tired of living in dorms.
Mall giant General
Growth Properties Inc. is selling the Harborplace shopping center, the
centerpiece of Baltimore's downtown redevelopment in the 1980s, to
retail-property investor Ashkenazy Acquisition Corp.
North Dakota, an
epicenter of the nation's oil rush, is grappling with a scramble reminiscent of
the most-heated periods of the housing boom.
A large San Francisco
real-estate company is stepping back into the upper Midwest, snapping up one of
the tallest skyscrapers in Minneapolis for just over $200 million.
CHICAGO—Sandeep
Mathrani, the chief executive who has guided General Growth Properties Inc.'s
GGP -1.49% resurgence since it emerged from bankruptcy protection, has a
message for William Ackman: Back off.
Door-buster shoppers
will find more than just Wal-Mart Stores Inc. WMT -0.70% awaiting them at
midnight this Thanksgiving. Far more U.S. malls are opting this year to open at
midnight in a bid to keep pace with discount retailers and online shopping.
South Florida's
housing market continues to bounce back from a six-year slumber, but recovery
on the commercial side has been more sluggish.
For all the
difficulty and anguish of closing under-utilized public schools, the process is
likely to prompt excitement from at least one constituency in the city: real
estate developers.
WAHIAWA, Hawaii—The
trustee for hundreds of heirs to a large land tract here on Oahu island has
agreed to sell their inheritance to the state for preservation as farmland,
reversing a decadeslong trend of most such open land being developed.
On Manhattan's Fifth
Avenue, it seems as if the boom never ended.
Sandy left an uneven
path of destruction in lower Manhattan when it hit three weeks ago: The
superstorm hit harder on the eastern side, where some buildings may be closed
for months, while the more-modern buildings on the western waterfront bounced
back quickly from the flooding
A Texas land
developer has bought one of the largest tracts of land in Southern California
approved for development in a deal that signals that investors are once again
betting on housing tracts in exurban markets.
SHANGHAI—A
luxury apartment building that is one of the most visible casualties of China's
high-end property bust is up for auction in the northeast city of Dalian, after
a bank foreclosed on the property.
The
allure of Poland, once a star performer among Europe's real-estate markets, is
beginning to fade.
With
debt drama and economic uncertainties plaguing developed nations on both sides
of the Atlantic, investors sitting out on the sidelines are having a difficult
time choosing which corners of the market to dip their feet in.
Brazil
is the world’s 6th largest economy. The country is regarded as one of the best
performing real estate market. Statistics from Knight Frank’s Global House
Price Index, show Brazil as having the second highest annual house price
growth.
Last
year, over 41,000 MW were installed worldwide, of which 1,206 MW were made in
Latin America, 80% of which in Brazil and Mexico; followed by Honduras, 8.4%
with its farm at Cerro de la Hula; Argentina, 6.5%; Chile and the Dominican
Republic, both 2.7%; Costa Rica, 1%; and Colombia, Ecuador, Nicaragua, Peru and
Uruguay comprising the rest.
Spain
bad bank Sareb will open in December in an effort to clean up toxic real estate
assets of the nation's troubled banking sector. It will buy up to €60bn of
almost €200bn of bank bad debts accumulated since the housing market collapse.
Legislation
authored by Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) to
continue a successful, job-creating immigrant visa program was approved
Thursday evening by the U.S. House of Representatives. The bill, which already has passed the
Senate, now goes to the President’s desk for signing. The House vote was 412 to
3.
Conferences
March
12-15, 2013
Palais
des Festivals - Cannes - France
April
15-18, 2013
The
Ritz Carlton, Shanghai, China
June
25-27, 2013
Marina
Bay Sands, Singapore
October
7-9, 2013
Munich,
Germany
MultiFamily
SACRAMENTO-GlobeSt.com
has learned exclusively that Centerline Capital Group has provided $25.5
million in financing for three California-based multifamily properties, one in
Stockton and two in Sacramento.
No
property manager can execute perfectly but the "right" property
manager knows how to keep properties functioning and making money 24 hours a day,
365 days a year.
LOS
ANGELES-GlobeSt.com has learned exclusively that multifamily investors are
making an aggressive push westward into Seattle, Phoenix, Los Angeles and San
Diego, according to Jones Lang LaSalle’s third-quarter 2012 West Coast
Multifamily Outlook
The
seven-story, 100-unit Muriel's Landing Apartments complex will open next week
in Seattle's University District.
PORTLAND,
OR-Denver-based Cardinal Group Investments LLC purchased the RiverPlace Square
apartment community in downtown Portland for $77.5 million.
Goodman
Real Estate and Capri Capital Partners LLC announced Tuesday that they’re
buying the 25-story Tower 801 apartment building in downtown Seattle for $50.1
million
Active
in Multifamily? Join Leading Commercial Real Estate Executives at New Jersey
Apartment Summit
(CRE)
is pleased to confirm participation of Mack-Cali's Mitchell E. Hersh in The
Second Annual New Jersey Apartment Summit & Expo on November 27. 350+
active and innovative multifamily executives from New Jersey, New York,
Pennsylvania and other national regions are expected to attend the Tri-State's
leading multifamily summit for discussion, debate and networking.
Carlton
Grp Arranges $400M Construction Loan for Development of Tallest Residential
Bldg in the U.S.
Manhattan-based
Carlton Group has arranged the financing of $400 million for the institutional
real estate investment fund developing what will become the tallest residential
building in the United States - 432 Park Ave. in New York City.
BEVERLY
HILLS, CA-The multifamily sector is still flourishing as rents continue to rise
and renters demand new development. According to Meyers Research, a Kennedy
Wilson Co., which just released its latest trend report, national rent for
markets covered by RealFacts reached an all-time high of $1,042 per month in
the third quarter of this year, an increase of 4.8% from a year ago.
A
300-unit apartment building is being planned for the site of the Phil Smart
Mercedes dealership at the corner of East Pike Street and Belmont Avenue in
Seattle
SAN
DIEGO-With wide-open access to equity and debt this year, some analysts say
there is too much capital being raised for REIT investment, according to a panel
this week on capital markets during NAREIT’s REITWorld trade conference here.
SAN
DIEGO-Healthcare’s strong track record as a sector in which to invest should
continue, according to panelists at a general session on healthcare led by Ross
Nussbaum, managing director of UBS, during this week’s REITWorld trade
conference here.
REITs
Raise $60B YTD
WASHINGTON, DC-For the first
ten months of the year, REITs have raised a total $59.53 billion in public
equity and debt, according to NAREIT figures. That compares with a total of
$51.28 billion raised for the entire year of 2011--the industry’s record year
for capital raising.
Firms Restructure
as REITs
Faced with limited investment
opportunities as the global economy slows, a growing number of companies are
weighing changing their entire corporate structure to become real-estate
investment trusts.
An architectural gem in suburban New Jersey
where Nobel Prize-winning scientists once made groundbreaking discoveries is
under contract for just under $36 million.
Earlier this year, it looked as if the owner
of Las Vegas's Fashion Outlets mall was facing a problem: Its $107 million in
debt was nearing maturity, and the credit markets weren't strong enough to
refinance that entire amount.
Spain
bad bank Sareb will open in December in an effort to clean up toxic real estate
assets of the nation's troubled banking sector. It will buy up to €60bn of
almost €200bn of bank bad debts accumulated since the housing market collapse.
LOS ANGELES-The
number of Chinese investors putting their money into US real estate has seen a
dramatic uptick over the last few years, largely on the residential side, but
also on the commercial side.
The financial storm
in Europe is presenting opportunities for investors in U.S. properties as
hard-pressed real-estate companies and lenders sell assets.
CHICAGO-Gazing into
its collective crystal ball, members of the research team at Jones Lang
LaSalle's 2013 outlook media briefing, which took place Nov. 13, offered a
good-news, bad-news scenario
Limiting personal income-tax deductions and
other federal tax breaks, an idea gaining momentum as part of a fix for
America's budget crisis, would hit some parts of the country harder than
others, with a series of high-income blue states leading the way.
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