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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.
Local
EBay
Inc. signed a lease for 53,000 square feet, or three full floors, in the
21-story One Bellevue Center.
The
134-unit Langara apartment complex in Issaquah has been bought by Matteson
Companies for $28.2 million.
Public
records show that Kilroy Realty has bought the Westlake/Terry property, where
Microsoft is a tenant, for nearly $170 million.
Over
the last month or so, Wright Runstad & Co. President Greg Johnson has said
his company is close to selling part of the Spring District in Bellevue to a
residential development company.
State
Farm Insurance is mulling expanding its operations in the Tacoma area,
including looking at the downtown 12-story former headquarters of Russell
Investments, largely vacant since Russell moved out in 2010.
Frank
Stagen, who developed the Starbucks Corp. world headquarters and coined the
neighborhood phrase SoDo where the building is located, is dead at 78.
Weyerhaeuser
Co., citing an improving housing market, reported fourth-quarter and fiscal
2012 earnings and revenues both rose, and both beat analysts' expectations.
Seattle's
commercial real-estate market was one of the "most active in the
country" in the fourth quarter, according to a new report.
Seattle
was among 10 cities reporting home price gains in November, with area prices up
7.4 percent year over year, according to the latest report from the
S&P/Case-Shiller Home Price Indices.
LOS
ANGELES-Dallas-based Axiometric’s jobs/multifamily-permitting report showed
that Los Angeles ranked fifth among the top 10 MSAs for multifamily property
permitting for trailing 12 months ending November, 2012. According to the
report, permits for 8,582 units were issued in the L.A. market.
Amazon.com Inc. said
it will open its third fulfillment center in California, a 1
million-square-foot center in Tracy, which is near San Francisco.
Super Bowl XLVII
still is more than a week away, but New Orleans hotels already have scored big
with rates three times their average.
A real-estate
development company headed by a former Miss Reno Rodeo sold a controlling stake
in six Las Vegas-area shopping centers in a deal that reflects growing investor
appetite for commercial property in weak markets.
In 1988, a farmer and
schoolteacher named Elizabeth Banks agreed to donate a rolling 138-acre plot of
land in Montgomery County, Md., to Johns Hopkins University in an attempt to
shield the property from large-scale development by turning it into a low-slung
research campus.
The Federal Housing
Administration has come to the rescue of nursing-home operators that are having
a tough time obtaining traditional financing for mortgage loans.
The
German agency in charge of property belonging to the state is looking to sell
concrete bunkers built during the Nazi era to real-estate developers.
SINGAPORE—An
increased surcharge the Singaporean government has assessed on most foreign
buyers to try to tamp down soaring property prices threatens to rattle
Singapore's uneasy relationship with many of its rich foreigners while giving
Americans an edge in one of Asia's hottest property markets.
Surrounded
by winding streets with names like Cloth Fair, Cowcross Street and Hosier Lane,
London's Smithfield Market is steeped in history. Meat and livestock have been
traded for more than a thousand years on the site, which also was where
Scottish revolutionary hero William Wallace was executed in 1305.
MultiFamily
LOS
ANGELES-Dallas-based Axiometric’s jobs/multifamily-permitting report showed
that Los Angeles ranked fifth among the top 10 MSAs for multifamily property
permitting for trailing 12 months ending November, 2012. According to the
report, permits for 8,582 units were issued in the L.A. market.
The
134-unit Langara apartment complex in Issaquah has been bought by Matteson
Companies for $28.2 million.
FORT
WORTH-Presenters at the 24th annual Tarrant County Commercial Real Estate
Forecast on Jan. 24 offered a consistent message to the 575 participants who
showed up: Fort Worth is doing fine with jobs and the economy, as is Texas.
Trends and predictions did differ between sectors, however.
New-home
construction jumped in December to the highest level in more than four years, a
trend that bodes well for the economy and jobs.
PALM
SPRINGS, CA-Despite talk of an “apartment bubble” at conferences on each coast
and in closed-door investor meetings, the multifamily market is in no danger of
being overbuilt, according to research from Jones Lang LaSalle and other
industry experts.
Officials
of development company Harbor Urban this week announced that asset management company
Carlyle Group will become an equity partner in two new in-city apartment
projects.
EAST
BRUNSWICK, NJ-The combination of strong rental demand and short supply will be
the catalysts for a continued multi-family boom in New Jersey this year.
DISTRESSED
LAGUNA
BEACH, CA-GlobeSt.com has learned exclusively that locally based Dornin
Investment Group has acquired two Western US properties: Tenaya Quail East, a
three-building, 54,112-square-foot distressed office, retail, flex and
industrial commercial property….
A
new worry is threatening the rally in the rebounding market for commercial
mortgage-backed securities: Property owners have started to pick up the pace of
resolving problems with distressed loans.
The
former Trump condominium-hotel project in Fort Lauderdale, Fla., has stood
vacant since 2009, when its developer defaulted on a heavy debt load before
opening the newly built project. This year, it might be sold to its third
owner.
ROSEVILLE,
CA-Westwood Financial Corp. has just foreclosed on a defaulted loan the firm
purchased that had been in receivership on Woodcreek Plaza, a
23,112-square-foot retail center here
A
Philadelphia office tower is set to sell for nearly double the price it fetched
three years ago, an example of the eye-popping returns that some real-estate
investors are posting even in markets that haven't fully recovered.
Citi
Takes Top Spot in REIT Equity Deals
Citigroup Inc. C +0.38% became
the top equity underwriter for real-estate investment trusts in 2012, grabbing
the No. 1 spot from Bank of AmericaMerrill Lynch, the longtime leader of the
business.
Nontraded
REIT Merges With Public One
Spirit Realty Capital Inc. SRC
+1.84% agreed to be acquired by Cole Credit Property Trust II in an unusual
deal in which a nontraded real-estate investment trust is merging with a public
REIT.
Retailer demand for space at U.S.
shopping centers slowed in the fourth quarter amid sluggish economic and employment
growth, Reis Inc. (REIS) said.
By the end of 2012, it was
observed that rental rates of apartments were shooting up in the U.S. However,
home owners have to consider revising their rental agreements as more renters
are moving toward buying a house as the charges are crossing budget thresholds.
There was a big jump in short
sales in the Puget Sound area in 2012 as lenders increasingly allowed homeowners
to sell their properties for less than the amount owed to avoid foreclosures.
Less than two years after
embarking on a painful retreat from home lending, Bank of America Corp. BAC
-3.86% is girding for a new run at the U.S. mortgage business. Whether that
gamble pays off will depend in large measure on how long the mortgage market's
run of record profits continues.
The number of Puget Sound area
closed single-family home and condominium sales rose 15 percent in 2012 over
the prior year, while the dollar value of sales rose 19.6 percent, according to
a year-end report from the Northwest Multiple Listing Service.
The US economy closed out 2012 in
a somewhat disappointing manner. Third quarter GDP growth was revised upward to
a 3.1% growth rate, above the economy’s long ‐run potential.
RE Blogs
Real Estate Exchanges are the “flagship” of
the IRC §1031 practice, and certainly the more well known of the tax deferred
exchange structures.
The US economy closed out 2012 in
a somewhat disappointing manner. Third quarter GDP growth was revised upward to
a 3.1% growth rate, above the economy’s long ‐run potential.
