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RealShare
Orange County
DATE:
August 22, 2013
TIME:
02:00PM - 07:30:00PM
LOCATION:
Hyatt Regency Irvine
RealShare
National Investment and Finance
DATE:
June 17-18, 2013
TIME:
06:00PM - 4:00PM
LOCATION:
The Westin Gaslamp Quarter, San Diego
RealShare
APARTMENTS 2013
October
24 - Westin Bonaventure, Los Angeles
Local
For
now, mega multifamily developer Equity Residential plans to develop only about
half of a prime piece of property it owns in downtown Seattle.
Construction
began this week on another high-rise apartment complex in downtown Seattle.
A
rumor among commercial real estate insiders is that developer Urban Visions is
buying the four-story Columbia Building at 1516 Second Ave. in downtown Seattle.
The
median price of King County houses sold in April increased 11 percent to
$400,000, according to data released Monday by the Northwest Multiple Listing
Service.
An
Eastside commercial building that was once owned by Michael R. Mastro sold this
week for just under $3.5 million, public records show.
PORTLAND,
OR—CRE banking firm George Smith Partners, Los Angeles, has lined up $38.9
million in construction financing on behalf of its client, Salpare Bay, LLC.,
for the development of Phase I of The Residences at Yacht Harbor.
Seattle
is the fifth-most competitive U.S. market when it comes to bidding for homes
and the most competitive market outside of California, according to Redfin.
Pillar
Properties, a subsidiary of Seattle company R.D. Merrill, hadn’t planned to
sell the Noble, a recently completed apartment building in the Wallingford
neighborhood
Is
Seattle’s Ballard neighborhood ready for a fancy boutique hotel? Debera and
James Riggle are betting it is, because this month they opened a stunning one.
Beacon
Capital Partners LLC dove into the Seattle area in 2007 by buying up some of
the city's largest towers.
MUKILTEO,
WA—Colliers International Seattle has completed the sale of On the Green at
Harbour Pointe Apartments to Security Properties for a price of $49,550,000 or
$168,537 per unit.
SEATTLE-Those
who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing
the announcement, but GlobeSt.com has learned that RealNetworks Inc. is moving
its Seattle headquarters to new office space in Home Plate Center later this
year.
SEATTLE—GID
Development Group, a privately-held real estate organization headquartered in
Boston, is breaking ground on its 41-story residential project located at 2030
8th Avenue in downtown Seattle
Now
what do I do with all this property that I paid too much for?
That’s
a question that Chris Hansen may be asking in the aftermath of the National
Basketball Association’s Wednesday decision to keep the Sacramento Kings in
Sacramento.
Kemper
Freeman's Kemper Development Co. said it plans to add 2 million square feet of
retail, office, hotel, residential, dining and entertainment space to its
Bellevue Collection in Bellevue, in an expansion it values at $1.2 billion.
Equity
Residential made a huge profit on an old Seattle waterfront building, selling
it this week for $32.5 million.
After
10 years, the Port of Bellingham is formally launching the sale of nearly 11
acres of waterfront land for private development.
Cornish
College of the Arts is studying whether to build a 19-story residential project
near its downtown Seattle headquarters.
A glitzy Manhattan
real-estate crowd gathered in March to join Barry Sternlicht, chief executive
of Starwood Capital Group, at a party celebrating the launch of condo sales at
the Baccarat Hotel & Residences, a new development across from the Museum
of Modern Art.
Tire maker Goodyear
Tire & Rubber Co. GT -0.31%is scheduled to cut the ribbon Thursday on a
glassy new headquarters in Akron, Ohio, after nearly a century at a sprawling
complex about a half-mile away.
TAMPA, FL—Landmark at
Largo Crossing, a 304-unit multifamily complex in the central Pinellas County
city of Largo, has a new owner.
In the latest sign
that financing is starting to flow again in smaller markets, several commercial
banks have originated a $150 million construction loan to finance Village at
Meridian, a mixed-used development in suburban Boise, Idaho.
A New York judge on
Tuesday removed a potential obstacle to a plan for selling the Empire State
Building as part of a giant public offering, ruling that a share-buyout
provision in the plan doesn't violate the law.
AKRON, OH- SenQuest
Senior Living, the senior housing division of Los Angeles-based Titan Real Estate
Investment Group, Inc., has announced their acquisition of Liberty Residence I
and II, a 137-unit senior residential community in Wadsworth, Ohio, for $12
million
Some of the hedge
funds that made fortunes in the housing-market crash are now betting on the
recovery of Fannie Mae FNMA -0.70%and Freddie Mac, FMCC -1.49%the
government-controlled mortgage giants.
WASHINGTON—Federal
budget cuts are taking a toll on the office parks that have mushroomed for
years in the capital's suburbs, along with the retailers and restaurants that
depend on government workers.
Just like clockwork,
after ending 2012 on an upswing, commercial real estate pricing softened in the
first three months of 2013, according to the latest findings from the CoStar
Commercial Repeat Sale Indices (CCRSI).
Once a symbol of
suburban dominance, office parks from California to New Jersey are being
reimagined as little cities.
Hoping to stave off
suburban blight, local officials in more than a dozen communities have approved
plans for developers to turn aging corporate parks into urban-style complexes
with amenities including apartments, stores, movie theaters, bike paths and
office space.
With over 1,000
stores across the U.S. and Puerto Rico, retailer J.C. Penney Co. JCP -1.32%has
long been viewed as a possible real-estate play.
Starwood Capital
Group is in talks to buy seven U.S. shopping malls from Westfield Group WDC.AU
-1.95%for more than $1 billion, a deal that would mark the latest in a flurry
of big-ticket acquisitions of retail property.
Morgan Stanley MS
+1.13%is trying to revive its flagship real-estate program after suffering huge
losses during the financial crisis.
The Mall of America
in Bloomington, Minn., one of the largest shopping centers in the world, has
landed public subsidies to help finance its expansion.
Harvard University
pocketed a small profit this month when it sold a historic 19th-century
building complex in Watertown, Mass., providing evidence that investor and
tenant appetites for suburban office space are gaining momentum.
BERLIN—The
firm that owns more rental apartments than any other closely held company in
Germany is getting nearer to an initial public offering, hoping to cash in on
rising rents and demand for a stock with the potential to offer attractive
yields in a low-interest-rate environment.
Booming
Asian demand for raw materials has helped transform Perth, the capital of
resource-rich Western Australia, from backwater to bona fide city, pushing
commercial-property prices and rental rates skyward.
The
rebuilding of downtown Christchurch is starting to show some progress, more
than two years after an earthquake killed 185 people and caused over $34
billion in damage.
Back
in the 1990s, Mitsui Fudosan Co. 8801.TO +2.46%was one of the few Japanese
real-estate companies that stuck with its U.S. investments and didn't retreat
with big losses when that market collapsed.
RIO
DE JANEIRO—Amid numerous construction projects under way in this city that is
racing to get ready to host the 2016 Summer Olympics, a developer is hoping to
break ground soon on the first Donald Trump-branded project in Brazil: a $2.5
billion office complex.
Shares
of Klépierre SA, LI.FR -0.74%one of the largest owners of European retail
property, have been trading near their 52-week high even as the Continent's
flailing economy has kept a lid on consumer spending at the Paris-based
company's shopping centers.
HUEHUETOCA,
Mexico—Hardly anyone turns up nowadays at a Homex HOMEX.MX +10.60%sales center
for low-income homes in this dusty town north of Mexico City. On a recent
Saturday, a banner promising "well-being" flapped in the wind near a
sign that read "a new life awaits you." Even the lone saleswoman on
duty, Carolayn León, says she no longer believes in her employer after several
missed paychecks.
HONG
KONG—China Everbright Bank Co. 601818.SH -0.32%and the property unit of
Hopewell Holdings Ltd. 0054.HK -3.56%have joined a recent influx of Hong Kong
initial public offerings.
MultiFamily
An
apartment complex in suburban Chicago was saved from the clutches of
gentrification by a private real-estate investment trust formed to buy and
protect affordable housing.
CHICAGO-
Prime Property Investors announced on Friday that they have sold Deer Valley
Luxury Apartment Homes, a Class A community of 224 apartments in north-suburban
Lake Bluff, to California-based Steadfast Income REIT for $28,600,000.
SACRAMENTO—The
nation’s largest public pension fund has brought on a partner to help it manage
its multifamily investments.
TAMPA, FL—Landmark at
Largo Crossing, a 304-unit multifamily complex in the central Pinellas County
city of Largo, has a new owner.
The
apartment sector's biggest mystery these days: What will Lehman do?
Earlier
this year, the estate of Lehman Brothers Holdings Inc. sold apartment-building
owner Archstone to competitors Equity Residential EQR +1.34%and AvalonBay
Communities Inc. AVB +1.33%As part of the deal, Lehman got about 10% stakes in
the two firms, currently valued at about $4 billion, which it had to hold for
150 days.
IRVINE,
CA-For GlobeSt.com Thought Leader Auction.com, multifamily is still an
important sector, as made apparent by its recent three-day event that resulted
in $125 million in transactions.
COSTA
MESA, CA-Mill Creek Residential has broken ground on three multifamily
communities in Glendale, Laguna Niguel and Irvine.
Construction
of new homes fell in April amid a big drop in the volatile apartment sector.
But building permits hit their highest levels in nearly five years, a sign that
the housing rebound—while choppy—still appears to be on course.
DISTRESSED
Condo
Site Lives Again
As the housing market recovers,
bidders are emerging for the note on the stalled Chicago Spire condominium
property, once slated to be North America's tallest building.
Mortgage
Bond Poised to Set a Dubious First
The booming market for
commercial-mortgage-backed securities is on the verge of passing a dubious
milestone: losses on a class of bonds that have been popular with investors for
the big returns they promised.
Malls,
Storage Lead REITs
Real-estate investment trusts
reported robust earnings for the first quarter, as a slowly improving economy
allowed landlords to raise rents.
Health-Care
Owners Shun Nursing Homes
Some of the nation's largest
health-care landlords are pulling back from nursing homes on concerns they will
be less profitable in an era of steep Medicare and Medicaid cuts.
REITs
Set to Sail
In recent months, businesses
that don't look like real-estate businesses at first glance—like owners of
casinos and billboards—have petitioned government regulators to become real-estate
investment trusts in a search for tax savings.
CHICAGO-
Prime Property Investors announced on Friday that they have sold Deer Valley
Luxury Apartment Homes, a Class A community of 224 apartments in north-suburban
Lake Bluff, to California-based Steadfast Income REIT for $28,600,000.
The
commercial real estate recovery and performance vs. alternative investments
Publicly
traded REITs/conditions and outlook
Capital
markets/interest rates outlook
Looking
for to buy some land, office buildings, warehouses, shopping center or hotel
investment properties and want less chance of being out bid by a REIT?
Data-center
owners, once darlings of real-estate investors, are beginning to get spurned by
Wall Street.
The
two largest data-center real-estate investment trusts—Digital Realty Trust Inc.
DLR -1.50%and Dupont Fabros Technology Inc. DFT -1.31%—underperformed the
broader REIT market in the first quarter.
Empire
State Building IPO Plan Is Approved
Stakeholders in the private
company that owns the Empire State Building have approved a plan to sell the
iconic tower as part of an initial public offering, according to a regulatory
filing on Wednesday.
NEW YORK CITY-Having gone largely
into eclipse following the 2008 capital markes crisis, CMBS is all but walking
on sunshine these days
SAN DIEGO-GlobeSt.com has learned
exclusively that the first quarter of 2013 showed better-than-expected activity
in terms of commercial real estate transactions nationwide.
Once a symbol of
suburban dominance, office parks from California to New Jersey are being
reimagined as little cities.
Hoping to stave off
suburban blight, local officials in more than a dozen communities have approved
plans for developers to turn aging corporate parks into urban-style complexes
with amenities including apartments, stores, movie theaters, bike paths and
office space.
Home Depot Inc. HD +2.56%is
joining the herd with a bullish call on the U.S. housing recovery, a reversal
from years of preaching caution on a real-estate rebound.
The 40-story office tower at 120
Broadway, occupying a full city block just a stone's throw from Wall Street,
looks much as it has since its completion in 1915.
Home prices surged during the
first quarter at their fastest pace in nearly seven years, the latest sign of a
sustained warm-up in an economic recovery that has otherwise been marked by
starts and stops.
Chief executives of public
real-estate companies got big compensation raises in 2012, but the median
year-over-year increase was the lowest since the downturn.
A weeklong selling spree in the
mortgage-bond market got a reprieve Wednesday, but only after prices fell to
their lowest levels in more than a year as investors grappled with rising
interest rates.
RE Blogs Education
LOS ANGELES-The story of every cycle has
defined chapters. The book that will canonize the present cycle is still being
written, and we are rapidly moving through the third chapter.
The competition is
intensifying for 650 Madison Ave., a 27-story, green-glass office building near
the southeast corner of New York's Central Park, with some bids coming in for
more than $1.3 billion, say real-estate executives familiar with the bidding.
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