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RealShare's
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RealShare
Houston
April 30th at the Petroleum Club
DATE:
April 30, 2013
TIME:
07:30AM
LOCATION:
The Petroleum Club of Houston
Local
BOTHELL,
WA-Canyon Park Highlands II and III, a pair of life science research/office
buildings located on 30th Drive in Bothell, WA, have changed hands.
For
nearly a decade, a hospital building boom around Puget Sound has filled the
skyline with cranes, driven profits for architects and contractors, and helped
alter the region’s landscape.
Gerding
Edlen, a Portland-based company, bought the historic Dexter Horton Building in
downtown Seattle, company CEO Mark Edlen said Friday.
The
pace of multifamily investments in the greater Seattle area shot up 87 percent
last year, and that growth is expected to continue in 2013.
The
Seattle area dropped to No. 17 in the U.S. in the number of energy efficient
buildings in the city, falling from as high as No. 10 just a few years ago.
Office
space in downtown Bellevue is getting harder and harder to come by……
The
company that owns the Space Needle took to the airwaves on Tuesday to warn that
the proposed rezone of the South Lake Union neighborhood could result in the
construction of tall buildings that would block the views of the Needle and the
Olympic Mountains.
Security
Properties plans to start construction next year on a 316-unit apartment
project in the Spring District, a 36-acre development in Bellevue, company
Chief Development Officer John Marasco said Tuesday.
Two
office buildings in Seattle's Union Station tech office complex were sold
Wednesday for a total of $96.9 million.
Housing for college
students, long dominated by small players willing to put up with beer pong and
raucous parties, is attracting some of the biggest names in real-estate
development
The St. Louis
Cardinals have won the World Series twice in the past 10 years, and the team
draws more than three million fans annually to Busch Stadium.
A group of lenders
has agreed to make the first major construction loan for a condominium project
in the Miami area since the crash, marking a milestone in the recovery of
real-state financing market for condos.
Some of the country's
biggest banks were on pace to find a higher rate of past foreclosure mistakes
than regulators disclosed in January when they halted a review in favor of a
$9.3 billion settlement for homeowners.
Add
one more item to the list of products "made in China": debt backed by
commercial mortgages.
Lots
of real-estate funds that used piles of borrowed money to buy risky properties
got crushed during the financial crisis.
Hedge
fund Orange Capital LLC is trying to convince Strategic Hotels & Resorts
Inc. BEE +2.61% to liquidate its luxury properties, and its effort partly comes
down to simple math.
A stalled project in
Hollywood is set to finally get under way in a development that will test
demand for office space in the slowly gentrifying area.
Dan Gilbert, the
billionaire Detroit real-estate investor, has shown he likes a bargain—snapping
up downtown office properties for as little as $10 a square foot.
In the latest sign
that New York City's luxury market remains hot, the developer of Manhattan's
tallest residential tower said it has signed contracts to sell more than a
third of its luxury condo units two years before the building is set to be
completed.
U.S. shopping-mall
owners, already hit with store closures by longtime laggard Sears Holding
Corp., SHLD -1.02% are now pondering what steps to take if struggling chain
J.C. Penney Co. JCP -0.47% closes some of its 1,104 stores.
Now that KKRKKR
+0.68% & Co. has completed its seventh real-estate acquisition since 2011,
one theme in its property-investment strategy is becoming clearer: The New York
private-equity firm is joining the push into smaller markets in a search for
higher yields.
Detroit's most active
real-estate investor thinks he can teach the hobbled Motor City to walk…….
Historic
and picturesque Heidelberg seems an unlikely spot for an ambitious, ultramodern
sustainable-housing project.
Federal
investigators subpoenaed shopping center owner Kimco Realty Corp. KIM +0.14% in
a probe of alleged foreign bribery involving retailer Wal-Mart Stores Inc. WMT
-0.17%
TORONTO—After
an uneven year of sales in the U.S., Target Corp. TGT +0.74% is pinning its
hopes for growth on Canada, where it plans to open its first two dozen stores
in the next few weeks.
Add
one more item to the list of products "made in China": debt backed by
commercial mortgages.
While
the banking sector in Cyprus churns, the island's ailing real-estate industry
is casting a hopeful eye to a large gas discovery recently off the country's
southern coast.
Europe's
biggest real-estate fund manager has started making its first investments in
the U.S. market, in the latest sign of an increased appetite for risk among
some European investors.
HONG
KONG—With the government growing confident that it has halted the meteoric rise
in property prices, some of this city's biggest real-estate investors are
getting out.
SHANGHAI—When
Zhang Yuliang's property company struck a deal to buy and develop a residential
and hotel building in downtown Sydney, he had Chinese customers in mind.
MultiFamily
ANN
ARBOR, MI- Albert M. Berriz, the chief executive officer of McKinley, Inc. and
Daryl J. Carter, the chief executive officer of California-based Avanath
Capital Management, announced yesterday that the two companies had formed a new
partnership called “mckinley-avanath” to manage multifamily properties acquired
by Avanath.
MIAMI—The
multifamily market’s upward trajectory has given developers the confidence to
start building again. But with this comes an entirely new set of concerns, as
well as trends in construction.
SAN
FRANCISCO- Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have
seen a post teasing the announcement, but GlobeSt.com has learned that
Archstone Fox Plaza has sold to Essex Residential Property Trust. According to
Colliers International
MIAMI—Park
Colony, a 316-unit luxury garden apartment community in Hollywood, FL, has
traded hands. The multifamily asset is 95% occupied.
The
multifamily sector is still hot, and it doesn't seem like that's going to
change any time soon. That's the take of Jim McDevitt, president of Berkeley
Point, a multifamily capital solutions provider.
Construction
has started on one of Nashville, Tenn.'s first rental-apartment towers to be
built in about a decade.
WASHINGTON—The
construction cranes that have crowded this city's skyline for the past few
years were symbols of its red-hot apartment market. But now, the sight of them
could be an ominous sign of overbuilding.
DISTRESSED
Online
retailer Amazon.com Inc. AMZN +1.50% has helped enliven Seattle's South Lake
Union neighborhood where it moved its headquarters in 2010, pushing up property
values and sparking new construction.
MIAMI—Miami’s
real estate market is starting the year the same way it finished 2012: strong.
Rising sales and prices amid limited supply remains the storyline here.
PHOENIX-
Seattle-based Goodman Real Estate acquired two distressed multifamily
properties from Newport Beach, CA-based Sabal Financial Group, with plans to
upgrade them and add them to the area rental pool.
Distressed
Assets = 43% of Sales
IRVINE, CA-Foreclosure and short
sales account for 43% of US residential sales in 2012, according to a report
from RealtyTrac, an online marketplace for foreclosure properties.
Heat
Map Shows Foreclosure Hot Spots
IRVINE, CA-As GlobeSt.com
reported earlier today, foreclosure filings increased 2% nationally in February
from the previous month, reaching a 17-month high in Nevada and an even longer
time period in other states, according to a report by RealtyTrac, a locally
based online marketplace for foreclosure properties and real estate data.
BOTHELL, WA-Canyon Park Highlands II and III, a pair of
life science research/office buildings located on 30th Drive in Bothell, WA,
have changed hands. The buyer is Senior Housing Properties Trust, a Newton,
MA-based healthcare REIT, which paid $38-million, or $262-per-square-foot for
the 144,900-square-foot properties.
Related
and Corvex Target CommonWealth's Management
For four decades, New
York-based Related Cos. has been known primarily as a developer of apartments,
retail and offices.
REITs
Active in Healthcare Sector
LOS ANGELES-An increasing
number of REITs are exploring the healthcare sector for investment
opportunities, say several expert sources. The demand for properties in this
asset class continues to rise as institutional investors look for safe havens
in a post-recession environment.
MIAMI—Park
Colony, a 316-unit luxury garden apartment community in Hollywood, FL, has
traded hands. The multifamily asset is 95% occupied.
Sales of new homes are surging in
the U.S., far outpacing results for less expensive existing homes and creating
an unusual disparity in the housing recovery.
IRVINE, CA-There has been a lot of change in
the demographic profile of Southern California communities, which has in turn
impacted traditional grocery-anchored retail centers
Nearly every important set of
government and private-sector figures show a housing market on the rebound. The
recovery picked up steam in recent months with home sales jumping in January
and December.
The Dow Jones Industrial Average
has been hitting record highs, and the Labor Department last week reported that
employers added more jobs than expected.
Freddie MacFMCC +30.86% sued more
than a dozen of the world's biggest banks for alleged manipulation of interest
rates, in the first government-backed private litigation over the rate-rigging
scandal.
The foray by Big Money into the
single-family landlord business is becoming more sophisticated…..
The race is on for the
distinction of tallest tower on the West Coast, which hasn't seen any buildings
taller than 700 feet completed in two decades.
RE Blogs Education
Real estate developers, particularly in major
metros, often rely on putting significant projects together with the
acquisition of air rights from adjacent buildings that are zoned to build
taller than the air that they are using
The idea of managing a triple net (NNN) lease
property probably doesn’t make sense to a lot of real estate investors. After
all, the tenant has 100% responsibility for the maintenance of the property and
the owner simply receives a check on the first of the month, right?
“Like-kind” means I must exchange the same
type of property, such as an apartment building, for
another apartment building. No! Like-kind is an
unfortunate misnomer within the context of real property.
1031 exchanges are often called “like-kind
exchanges” because that is the language used in the tax code.
RE Videos and
Interactive
The average American paid 9.9% of their
income on state and local taxes during 2010, according to data from The Tax
Foundation. The state of New York ranked highest, with residents paying 12.8%
of their income on state and local taxes. The lowest: Alaska at 7.0%.
