Posts
Calendar
of Events
Summer
Social & Golf Tournament and/or Post Golf Networking Event
NAIOP-WA
August
11th
9:00AM-6:00PM
Newcastle,
WA
Washington's Best
Workplaces
PSBJ
8/14/2014
4:30PM-8:00PM
Seattle,
WA
August
Cocktail Connect
CREW-Seattle
8/19/2014
5:00PM-8:00PM
Bellevue,
WA
Building the Resilient City:
Risks and Opportunities (2-Day)
ULI
9/4/2014
TBD
San
Francisco, CA
RealShare:
Bay
Area
9/4/2014
8:00AM-12:00PM
San
Francisco, CA
September
Luncheon
CREW-Seattle
9/11/2014
11:30AM
Seattle,
WA
September
Cocktail Connect
CREW-Seattle
9/16/2014
5:00PM-8:00PM
Seattle,
WA
2014
September Breakfast Meeting
NAIOP-WA
9/17/2014
7:00AM-9:00AM
Seattle,
WA
2014
Housing Summit (Master Builders Association of King & Snohomish Counties)
Master
Builders
9/23/2014
7:30AM-11:30AM
Bellevue,
WA
Commercial
& Multi-Family Chapter Meeting & Networking
REIA-Seattle
9/25/2014
6:00PM-9:00PM
Seattle,
WA
24th Annual Investor Real
Estate Conference (3-Day Event)
PREA
9/30/2014
TBD
Los
Angeles, CA
Western
Division Conference
ICSC
10/1/2014
TBD
San
Diego, CA
2014
October Community Enhancement Event
NAIOP-WA
10/4/2014
7:30AM
Seattle,
WA
Development
'13: The Annual Meeting for Commercial Real Estate (2-Day Event)
NAIOP
10/7/2014
TBD
San
Diego, CA
Take the
Opportunity to Get Howard Roth’s Perspective
As
an industry veteran, look for sound advice and meaningful discussion when
Howard speaks at RealShare NEW YORK on October 9 at the Roosevelt Hotel
RealShare
APARTMENTS
DATE:
October
15-16, 2014
LOCATION:
Westin
Bonaventure
404
S Figueroa St
Los
Angeles, CA 90071
CCIM
Thrive Fall Conference October 21-22, 2014 Los Angeles, CA
The
CCIM Institute, the premier provider of commercial real estate education, has
teamed up with GlobeSt.com for CCIM Thrive, Oct. 21–22 at the Westin
Bonaventure in Los Angeles. Register to join our national audience of real
estate professionals looking to implement best business practices in an effort
to thrive in an ever competitive marketplace.
Be ahead of CRE
trends
Looking
for market information and the latest news? We have a power-packed agenda at
RealShare NEW JERSEY on September
11.
Town
Hall: Economic Growth Update
Hear
industry leaders exploring the future of the market. With incentives in play,
what creates a balance between retention and growth?
New
Development, Redevelopment and Repositioning: The Full Update
Local
For
local firm, LA Live deal was warm-up to $300M+ Seattle project
Seattle-based
American Life can turn its attention to developing a hotel/office complex next
to CenturyLink Field now that it has completed construction of a $172 million
development next to LA Live in Los Angeles.
Small
site, big tower: Hotelier eyes 50-story downtown Seattle project
No
wonder Stanford Hotels Group paid so much money for such a small site. The
company's planning to build a 50-story tower on the one-third acre parking lot
at Fifth and Stewart in downtown Seattle.
Onni
wants taller towers in return for saving green space in South Lake Union
A
Vancouver-based developer proposing what would be downtown Seattle’s largest
residential complex has offered to save the so-called Seattle Times park if it
is granted extra height on two of the four towers
Pacific
Place mall sold for $271M
Seattle
shopping center Pacific Place was sold Monday for $271 million, or more than
$774 a square foot, believed to be a record price per square foot for large
malls in this area. Developers are donating $14 million from sales proceeds to
United Way.
Rising
on Seattle's waterfront: 11-story residential tower
Gerding
Edlen plans to build an 11-story residential tower on Seattle's waterfront with
construction starting in mid-2015 at the earliest, company President Kelly
Saito said Monday.
Not
apartments? Buyer of prime Seattle waterfront site is going with condos
Kevin
Daniels said Friday that he plans to buy an old brick building next to
CenturyLink Field and develop a condominium project there.
Real
estate developer brings new apartment project to (the) Market
A
group called Brick Road Holdings LLC is planning a 160-unit residential project
near the Pike Place Market, city of Seattle records show
What
will Seattle's new waterfront look like? New center will show you
It's
hard to imagine what Seattle's new $1 billion waterfront will look like when
you consider there has been talk of new parks, a pedestrian promenade and even
a swimming pool barge.
Just
like that, 9 office buildings are for sale in Seattle area
Walton
Street Capital is selling a large group of office buildings in the Puget Sound
region, company spokesman Eric Mogentale said Wednesday.
Not
so different after all: Pemco puts longtime South Lake Union HQ up for sale
When
it comes to real estate, Pemco Insurance isn't so different after all.
National
Even as U.S.
employment pushes past its prerecession levels, employers are remaining frugal
when it comes to office space.
San Francisco's
housing shortage is growing more acute as the city's tech engine gains steam,
but that is doing little to ease residents' longtime resistance to real-estate
development.
The Justice
Department and Citigroup Inc. C -1.10% are close to a deal for the bank to pay
about $7 billion to settle allegations it sold shoddy mortgages in the run-up
to the financial crisis, according to people familiar with the matter.
Stephen Ross's
Related Cos. is known for embarking on megasize development projects in New
York such as the $15 billion Hudson Yards project on Manhattan's West Side.
Demand for industrial
and office space in parts of Northern California has been on the rise, due
mainly to the rapid growth of the technology sector. Now another business group
is jockeying for space: the automotive industry.
Private-equity firm
Golden Gate Capital has reached a deal to purchase a majority stake in Green
Street Advisors Inc., a research firm in the commercial-property industry,
Green Street executives said Tuesday.
Later this year in
Sarasota, Fla., Taubman Centers Inc. TCO +0.18% will do something that is
rarely seen these days in the retail world: open a new regional mall.
Martin Ringlein
recently moved his business to Crystal City in Washington's Virginia suburbs,
but that is about all he has in common with the defense agencies and government
contractors that for years dominated this area of boxy, low-slung office
buildings.
MetLife Inc. MET
-0.52% is getting industrial.
The insurer is
planning a series of new developments of warehouse and distribution space in
eight projects around the U.S., totaling at least six million square feet.
Soaring property
values in New York neighborhoods once associated with crime and poverty are producing
healthy profits for developers who jumped in early.
HOUSTON–Transwestern recently appointed
Micheal Palmer to the company’s tenant advisory services group as senior vice
president. In this role, the 27-year veteran will assist industrial property
occupants.
A new group of lenders has begun to target
properties valued at $10 million and less, and that is good news for mom and
pop landlords and small-business owners.
General Electric Co. GE +0.04% is about to
strengthen its ties to downtown Cincinnati in the latest sign that urban
centers in the Rust Belt are becoming more attractive to U.S. corporations.
From the 15th floor of the new Westin hotel
in Portland, Maine, the highest point in the city, the view looks pretty good
for a pair of hotel investors who completely remade the nearly century-old
property.
LOS ANGELES—The retail market is benefiting
from boosted confidence, illustrated by several new retail leases inked
throughout the city. Kennedy Wilson recently closed the four retail lease
transactions in Los Angeles submarkets, including Hollywood, Santa Monica and
Westchester.
IRVINE, CA—Deciding whether to stay in their
current space or relocate is a decision tenants shouldn’t take lightly. PM
Realty Group’s second-quarter Orange County office market report shows what
other industry executives have been saying….
NEWPORT BEACH, CA—The ports are one of the
reasons the Southern California industrial market attracts so many developers,
including REDA Bascom Ventures.
At the conclusion of a five-day Trade Mission to China, the International
Real Estate Federation – U.S. Chapter (FIABCI-USA) and the China Institute of
Real Estate Appraisers & Agents (CIREA) agreed to form a Permanent Select
Committee on doing business between the United States and China.
The
owner of the giant Bahamas resort complex known as Atlantis has completed a
$1.9 billion recapitalization of the hotel and gambling destination and will
replace the hotel manager shortly before a rival resort is poised to open
nearby.
When
Milan launched a wholesale redevelopment of its skyline more than a decade ago,
it set in motion a building spree that changed the face of Italy's business
capital, with sleek new office space soaring over centuries-old church spires.
MILAN—Italian
banks are trying to unload billions of euros of distressed property loans at
prices that have so far failed to lure investors.
Puerto
Rico's deepening economic troubles have punished investors and made life hard
for many locals. But one group has been encouraged by the opportunities it
sees: real-estate investors.
Many
foreign investors that have shown up in Italy to buy property from financially
stressed governments and institutions have been discouraged by the slow pace of
sales.
SHANGHAI—LaSalle
Investment Management has raised $1 billion this year to invest in real-estate
assets in Asia, in the latest sign that investors are making bolder bets in
areas that are still enjoying strong growth.
GE Capital
is bulking up in Canada.
The
financing arm of General Electric Co. GE +0.75% this month purchased a $530
million portfolio of commercial mortgages tied to 16 Canadian properties from
Bank of America Corp. BAC +1.56%
PARIS—Mall
king David Simon's plan to build a retail real-estate empire in Europe similar
to the one his family built in the U.S. took a big step with the planned €7.2
billion ($9.68 billion) merger between France's Klépierre SA and Dutch rival
Corio CORA.AE +0.43% NV.
MultiFamily
Apartment
landlords continued to push through hefty rent hikes in the second quarter,
squeezing U.S. households that already are struggling financially after four
years of steady increases.
TAMPA,
FL—Twice the purchase price. That’s the story behind the sale of Lexington
Court, a once-distressed multifamily project in Tampa, FL. The $1.3 million
sale price equals $30,952 per unit, or $52.01 per square foot—that’s double the
purchase price.
Cleveland's
longtime dream of developing its Lake Erie waterfront took a step forward last
month when its City Council approved plans for a $700 million development.
PHOENIX—Steve
Jaffe, executive vice president and general counsel to BH Properties, a Los
Angeles-based firm that specializes in acquiring and repositioning challenged
or distressed real estate properties, speaks exclusively with GlobeSt.com about
value-add industrial and multifamily markets.
IRVINE,
CA—As GlobeSt.com reported last week, spring housing numbers from Case-Shiller
and the FHFA index grew, and the latest trends including increased home sales,
moderated pricing levels, decreased mortgage rates and improved inventory, according
to Rick Sharga, EVP of Auction.com.
TAMPA,
FL—Blue Rock Partners has been running hard on the multifamily development
front—and HFF is helping it secure financing to keep pressing. HFF arranged an
$8.5 million refi for Blue Rock’s The Park at Chesterfield.
Rising
on Seattle's waterfront: 11-story residential tower
Gerding
Edlen plans to build an 11-story residential tower on Seattle's waterfront with
construction starting in mid-2015 at the earliest, company President Kelly
Saito said Monday.
Not
apartments? Buyer of prime Seattle waterfront site is going with condos
Kevin
Daniels said Friday that he plans to buy an old brick building next to
CenturyLink Field and develop a condominium project there.
Condo
Builders Fuel Land Rush in Miami
MIAMI—At
the height of the real-estate boom in 2006, Ugo Colombo, an Italian-born
developer, bought a stake in an empty plot of land along the Miami River,
facing Biscayne Bay, in a deal that valued the site at roughly $25 million.
Home
Builders Venture Into Urban Areas
A
top executive of Lennar Corp. LEN -1.17% recently joined with officials from
Weehawken, N.J., to celebrate the completion of the home builder's newest
condominium complex, a luxury building across the Hudson River from New York
City
DISTRESSED
TAMPA,
FL—Twice the purchase price. That’s the story behind the sale of Lexington
Court, a once-distressed multifamily project in Tampa, FL. The $1.3 million
sale price equals $30,952 per unit, or $52.01 per square foot—that’s double the
purchase price.
PHOENIX—Steve
Jaffe, executive vice president and general counsel to BH Properties, a Los
Angeles-based firm that specializes in acquiring and repositioning challenged
or distressed real estate properties, speaks exclusively with GlobeSt.com about
value-add industrial and multifamily markets.
An
investment group backed by John Paulson, George Soros, Michael Dell and
Christopher Flowers stands to gain more than $3 billion from a bet made on a
failed lender during the depths of the financial crisis.
NorthStar Realty Finance Corp. NRF +0.62% is
in exclusive talks to purchase Griffin-American Healthcare REIT II, a large
owner of senior housing, skilled nursing facilities, hospitals and other
properties, according to two people familiar with the negotiations.
A little-known U.S. telecom company has hit
upon a creative strategy that could help the industry shield billions of
dollars from tax collectors.
Wall Street firms this year have been
enjoying a surge in fees from a robust crop of stock offerings, but
underwriters that focus on public U.S. real-estate investment trusts have
largely been sitting out the party.
The Port of Houston is sizzling, and not just
because it is summer in Texas.
Houston leads all but three U.S. metropolitan
areas in the construction of industrial space, with more than 4.7 million
square feet under way. And the rent for industrial properties rose faster there
than in any other market in the year through March.
Commercial real-estate values in June rose by
about 0.5% to levels 10% above their 2007 peak, according to the Green Street
Commercial Property Price Index
LOS ANGELES—“Transit oriented
mixed-useproperty development truly is the beginning of something much bigger
here in Los Angeles and in the surrounding Southern California region
LOS ANGELES—Commercial real estate
investments have outperformed other investment classes since the “Great
Recession” on a risk-adjusted basis
WASHINGTON—A broad measure of U.S. home sales
climbed for the third consecutive month in June, hitting the highest level
since October as the housing market gained steam after a monthslong slump.
Money from China has been a top driver of
some housing markets, especially in coastal cities such as San Francisco and
Los Angeles.
BUENA PARK, CA—As more young people are
receiving higher education and are attracted to cities, fewer are entering the
industrial labor pool, making increased automation a necessity for distribution
centers, John C. Morris, Cushman & Wakefield’s
Transit agencies in the U.S. looking to expand
rail lines are getting into the real-estate-development business to raise
revenue.
RE Blogs Education
MIAMI—If you want an alternate view on
sale-leasebacks, ask the attorneys that work out the details. GlobeSt.com
caught up with Joseph M. Marger, a partner at the law firm Reed Smith, to get
his thoughts on the state of the sale-leaseback market in part one of this
two-part interview.
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