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RealShare's 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.
RealShare
PHILADELPHIA | Mar. 7 | Crystal Tea Room
DATE:
March 07, 2013
TIME:
07:30AM - 12:00PM
LOCATION:
Crystal Tea Room, Philadelphia
RealShare
Houston
April 30th at the Petroleum Club
DATE:
April 30, 2013
TIME:
07:30AM
LOCATION:
The Petroleum Club of Houston
Mipim - Palais des festivals,
Cannes, France
Please
join FIABCI, the International Real Estate Federation, at one of the premier
international real estate exhibitions and conferences in the world, MIPIM 2013.
MIPIM will take place 12-15 March 2013
at the Palais des Festivals, Cannes, France.
Local
Kemper
Development Co. has put under contract for purchase a key, corner property
adjacent to Bellevue Square.
Rents
and apartment projects are rising in Seattle, in sharp contrast to the
apartment market about 30 miles away.
Vulcan
Real Estate’s controversial plan to help the city of Seattle build a block of
housing and office space for nonprofits in South Lake Union is rife with
misunderstanding.
Hugo
Lingat Caingat, Jr., 59, of Bonney Lake, a former controller at the Aspen
Lodging Group in Tacoma, was sentenced to two years in jail for embezzling more
than $700,000 from the company.
A
240-unit apartment complex is being planned a block north of Gas Works Park in
Seattle, at Wallingford Avenue North and North 34th Street.
In
the middle of fast-changing Ballard, one developer is constructing wetlands and
planting vegetable gardens on land where it could have built many more
apartments or offices.
Word
of the planned fall groundbreaking of the long-delayed, 660-foot Fifth and
Columbia Tower got us to wondering about the status of two other proposed
downtown skyscrapers on hold since the Great Recession turned the office market
on its head.
A
planned $400 million, 43-story office tower at Fifth and Columbia streets in
downtown Seattle will include a luxury 184-room SLS hotel.
Emeritus
Senior Living says it plans to hire 1,000 veterans, and their spouses, over the
next five years.
Construction
started Wednesday on REO Flats, a seven-story apartment project on Seattle’s
Capitol Hill.
Seattle
City Councilmembers Nick Licata, Tom Rasmussen and Sally Bagshaw on Thursday
announced that they support shorter, slimmer towers for the waterfront blocks
in South Lake Union.
Unico
Properties of Seattle paid the Mack family a total of nearly $37.5 million for
the Logan Building and the South Arcade retail property next to Pike Place
Market in downtown Seattle, records show.
The
number of closed single-family home sales rose more than 30 percent in the last
month in Seattle compared with a year earlier, topping the national average of
a gain of about 12 percent.
More
of the blue will be washed out of Ballard’s collar this spring, when a luxury
hotel opens where the neighborhood’s first bowling alley once operated.
Amazon.com
already has planted its flag of domination in the online retail space. In 2012
— with three of the region’s largest real estate deals — it took a major step
toward creating its own real estate empire
Amazon.com Inc. said
it will build three new distribution centers in Texas, in the towns of Coppell,
Haslet and Schertz.
Bloomberg Bottom Line
Featured Marcus & Millichap’s Hessam Nadji,
GlobeSt.com Thought
Leader, Discussing:
The Markets
Recovering and Growing
How Job Growth is
Driving Commercial Real Estate Sectors
What Makes Office
Occupancy Different in This Recession
The murky world of
real-estate pricing by private-equity funds is about to become a little less
murky.
BRIDGEWATER,
NJ-Venture capital investment in the Garden State continued its decade-long
decline last year, totaling $429.3 million.
The hippest and
fastest-growing companies operating in New York are expanding in trendy
neighborhoods such as the Meatpacking District and Union Square. So why is
Scott Rechler busy buying towers in pinstriped Midtown?
Self-storage
facilities, those usually drab buildings on city outskirts where people stash
their old sofas, heirlooms and other keepsakes, are now the biggest-ticket
properties in commercial real estate—at least by one measure closely tracked by
investors.
Real-estate investor
Rockpoint Group and hotel operator Highgate Hotels bought Manhattan's Milford
Plaza Hotel for about $200 million in 2010.
In 2011, Rob Speyer
sat down for what he thought would be a brief meet-and-greet with Wang Shi,
chairman of China's largest residential developer, China Vanke Co.
The
global financial meltdown, housing shortage, poverty and the power crisis were
the issues discussed at the U.N. symposium on global housing organised by the
Global Housing Foundation and the U.S. Chapter of the International Real Estate
Federation (FIABCI-USA) in New York in October .
Secure
and well-protected property rights and accurate and accessible information for
lenders and borrowers can promote economic growth. This was the main message
from the 15 January 2013 forum,
TORONTO—The
once red-hot condominium market here is suddenly teetering, as sales plummet
and prices ease.
Holding
a fishing rod in one hand and filling your lungs with country air, the last
thing you might expect to find a minute's walk away is a coffee shop and a
clothing store.
MADRID—Reyal
Urbis SA, REY.MC +7.83% a real-estate firm that became a stock-market darling
before Spain's property boom went bust, said it would file for bankruptcy
protection in what could become the second-largest default in Spanish corporate
history.
MultiFamily
LOS ANGELES-Though
developer sentiment has wanted overall in the state, the multifamily and
industrial markets were both strong. The Allen Matkins/UCLA Anderson developer
survey breaks down the overall commercial real estate market.
HOUSTON-Recent
articles on GlobeSt.com have reported on a very robust multifamily sector in
Houston. Even as the development pipeline continues chugging along, creating
more and more units, the question becomes, will it be too much?
PALM
SPRINGS, CA-New product coming on the market may exert downward pressure on
multifamily rental rates, says Rick Graf, CEO of Pinnacle. Graf spoke with
Carrie Rossenfeld at the recent NMHC Apartment Strategies Conference here
SHERMAN
OAKS, CA-In an update to this morning’s exclusive story about the firm’s
purchase of the Plaza at Sherman Oaks, we detail the amenities and planned
renovations.
ATLANTA—Hanna
Capital is betting in the Carroll Organization. Hanna just made a long-term
strategic investment in the privately-held real estate company’s future growth.
Financial terms of Hanna's equity stake were not disclosed.
BofI
Federal Bank is one of our Thought Leader partners on Multifamily Leader.
Morgan Ferris, senior vice president income property lending, talked to us
about where he sees the multifamily market going for the coming year.
A
240-unit apartment complex is being planned a block north of Gas Works Park in
Seattle, at Wallingford Avenue North and North 34th Street.
Construction
started Wednesday on REO Flats, a seven-story apartment project on Seattle’s
Capitol Hill.
A
new report outlines the economic impact of the apartment industry in Washington
state and Seattle, where thousands of units are under construction.
LOS
ANGELES-Demonstrating the volatility of the Los Angeles multifamily market,
Vanguard Investments has listed for sale a portfolio of 14 apartment
communities in the Hollywod/Koreatown area here.
Secondary
multifamily markets are ripe for investment for smaller players, while the larger
institutions continue to focus on Class A assets in gateway markets.
ORLANDO—Wood
Partners has started construction on a 200-unit multifamily community located
in one of Orlando’s hottest neighborhoods. The Rialto is under development on a
5.95-acre site on Spring Lake at the entrance of Doctor
DALLAS-January's
national multifamily property statistics released by local AXIOMetrics Inc.
showed a slowdown in annual effective rent growth and a decrease in concession
values. Occupancy also took a slight hit, with the national occupancy rate
declining 7 basis points from 94.11% in December to 94.04% in January.
MIAMI—Last
week, we caught up with Elliott Throne, a director at HFF in Miami, to get his
take on the Southeast’s multifamily market. How does that compare to other
industry views?
A
once-troubled luxury condo project in Woodinville’s wine county has been sold
as an apartment property for $11.5 million more than what the sellers bought it
for about two and a half years ago.
DISTRESSED
Illinois
Gov. Pat Quinn signed into law a bill that will speed up foreclosures on
abandoned, vacant single-family homes and multifamily buildings in the state.
Such foreclosures will now get fast-tracked through the system.
For
all of 2012, servicers completed more than 850,000 loan modifications, while
the industry also continued to push for another foreclosure alternative—short
sales, according to recent data from HOPE NOW, an alliance of mortgage
servicers, investors, mortgage insurers, and nonprofit counselors.
From
a bank it came, and to a bank it will return.
In
2005, Townsend Inc., a local developer, purchased the former home of the
Federal Reserve Bank of Kansas City with a plan to convert it into
condominiums. But the project ended in foreclosure and, in an auction Monday,
another bank took control of the historic office building.
Around
seven years ago, Washington Mutual gutted its internal quality-control
department to allow the failed Seattle thrift to provide more loans to people
who wouldn't normally qualify for them.
Angel
investor group Keiretsu Forum Northwest made slightly fewer investments in 2012
than the group did in 2011, despite expanding the number of its local chapters
to six. But that drop may not be a bad thing
JERSEY
CITY, NJ-From his home office in Brooklyn, commercial mortgage brokerage
securities analyst Shlomo Chopp looks at CMBS loan statistics for New Jersey,
and tells GlobeSt.com about some worrisome numbers:
ORLANDO—Crocker
Partners just acquired two recently foreclosed Florida office parks. The
distressed assets acquisitions add more than 1.3 million square feet to the
company’s portfolio.
SAN FRANCISCO-In this UPDATE of our January
10 story, the locally based REIT has put a price tag on the
9.6-million-square-foot portfolio it is contributing to the newly crafted REIT.
SAN ANTONIO-Locally based American
Opportunity for Housing/American Agape Foundation Inc., operating under the
entity name AOH-Vantage at Fair Oaks LLC sold its 288-unit Vantage at Fair Oaks
to an Orange County, CA-based REIT
WASHINGTON, DC-January REIT returns are in
and they’re, well, ok. Still up but lagging behind the broader equity markets.
NEW YORK CITY-Michael Dell has visions of
taking his company private in a leveraged buyout valued at $24 billion. And
rumors in the wake of that momentous move are rippling through the industry
that this will spur a pre-recession-like flood of LBOs among REITs.
It's nice to know where you'll be
living next before you let go of the home you've been comfortable living in for
years. However, not only is this not possible for most repeat homebuyers, it
may not be the most financially prudent approach.
In
the middle of fast-changing Ballard, one developer is constructing wetlands and
planting vegetable gardens on land where it could have built many more
apartments or offices.
The hippest and
fastest-growing companies operating in New York are expanding in trendy
neighborhoods such as the Meatpacking District and Union Square. So why is
Scott Rechler busy buying towers in pinstriped Midtown?
The
number of closed single-family home sales rose more than 30 percent in the last
month in Seattle compared with a year earlier, topping the national average of
a gain of about 12 percent.
SAN
DIEGO-This year investors should expect an uptick in CMBS, rising about the $50
billion that was allocated last year, predicted Jimmy Board, senior vice
president at Jones Lang LaSalle. He spoke with us here recently at MBA's CREF
Multihousing Convention & Expo.
WASHINGTON,
DC-To hear Greg Leisch tell it, it has never been a better time to be in
commercial real estate than now. Leisch, president of Transwestern's Delta
Associates, was the keynote speaker at last evening's Trendlines
JERSEY
CITY, N.J.—On a recent Tuesday morning, Alan Dixon, an investment manager
originally from Canberra, Australia, stood in front of a four-story townhouse
here, one of the latest assets he purchased for his company's shareholders.
RE Blogs
Building owners and tenants who construct new
buildings or improve existing buildings often miss out on valuable tax
deductions at the time the building or improvement was originally placed into
service.
RE Videos
Bloomberg Bottom Line
Featured Marcus &
Millichap’s Hessam Nadji,
GlobeSt.com Thought
Leader, Discussing:
The Markets
Recovering and Growing
How Job Growth is
Driving Commercial Real Estate Sectors
What Makes Office
Occupancy Different in This Recession
PALM
SPRINGS, CA-New product coming on the market may exert downward pressure on
multifamily rental rates, says Rick Graf, CEO of Pinnacle. Graf spoke with
Carrie Rossenfeld at the recent NMHC Apartment Strategies Conference here
SAN
DIEGO-This year investors should expect an uptick in CMBS, rising about the $50
billion that was allocated last year, predicted Jimmy Board, senior vice
president at Jones Lang LaSalle. He spoke with us here recently at MBA's CREF
Multihousing Convention & Expo.
SAN DIEGO-Should investors be worried about
Freddie Mac's new due diligence requirements? Joe Derhake, president of Partner
Engineering and Science, Inc., and a GlobeSt.com Thought Leader broke down the
issue for us recently at the MBA's CREF/Multifamily Housing Convention &
Expo
NEW YORK CITY-Kenneth McCarthy, chief
economist at Cushman & Wakefield, gives a presentation on the overall
economy and how it impacts commercial real estate at a recent AIG-sponsored
business seminar. His wide-ranging discussion touches on everything from the
national unemployment situation to trends in the commercial real estate
industry.
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