REAL ESTATE NEWS, TRENDS AND ANALYSIS

Thursday, September 12, 2012

DEALS Hilton Files for IPO of up to $1.25 Billion

Wall Street Journal; September 12, 2013

TRENDS AND ANALYSIS Developers Bet Big on Seattle

The Wall Street Journal; September 12, 2013

Hilton Worldwide Holdings Inc. has filed plans for an initial public offering of up to $1.25 billion in stock, as the giant hotel conglomerate aims to return to the public market after spending several years under private-equity ownership. Hilton, which was taken private by Blackstone Group in 2007 for more than $18 billion and an additional $7 billion in assumed debt, had recently enlisted banks to help ready a return to the public markets, The Wall Street Journal reported last month [READ MORE]

Seattle's growing technology sector is giving area developers grand visions. Developer Wright Runstad & Co., a locally owned office builder, is planning to start demolition on Monday to clear the way for the first phase of a massive 36-acre office and apartment development in Bellevue, Wash. First planned in 2007, the complex is the latest in a string of projects to move forward in the Seattle area [READ MORE]

HFF Arranges $580M Refi for Las Vegas' Miracle Mile Shops
CoStar Group; September 9, 2013

Flush With Cash and Making Deals, Investors from South Korea, Norway Targeting U.S. Real Estate
CoStar Group; September 11, 2013

HFF arranged a $580 million refinancing secured by the Miracle Mile Shops, a 501,522-square-foot elite mall located in the epicenter of the Las Vegas Strip. Claudia Steeb, Manny de Zarraga, Barry Brown, Gerry Rohm, and Bryan Levy with HFF arranged the 10-year, fixed-rate CMBS loan led by CantorCommercial Real Estate, with JP Morgan and Citigroup participating. [READ MORE]

A pair of recent high-priced investment property sales illustrates the growing interest from cross-border capital in U.S. commercial real estate. In the latest acquisition, an affiliate of Oslo-based Norges Bank which administers Norway's oil-based sovereign wealth fund, Government Pension Fund -Global (GPFG), has agreed to buy a stake in a New York City office trophy office tower for $684 million [READ MORE]

Domain Apartment Property Sells for $103M

Globestreet; September 11, 2013

As Housing Rebound Helps More Retirees Sell Homes, Investors Prep for Increased Demand for Senior Housing
CoStar Group; September 11, 2013

OAKLAND, CA-Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, has arranged the sale of Domain, a 264-unit, luxury, transit-oriented condominium rental community located in Oaklands award-winning City Center. The sales price of over $103,200,000 equates to approximately $391,000 per unit [READ MORE]

Senior housing investment sales, which have been slowly creeping up this year, could see a big boost in activity in the near future. Seeing this trend, several major public REITs are beginning to sell some of the their commercial assets, which are getting premium pricing in the current market, to raise money to redirect towards senior housing and care facilities, in expectation that the prices will rebound.