Dylan Simon -- Kidder Mathews
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Dylan Simon -- Kidder Mathews
I specialize in the sale of apartment buildings in Seattle and the greater Puget Sound region.  I focus on the sale of both apartment buildings and developable land ranging from $1M to $100M. I am passionate about real estate investment and development, economics, technology and urbanism. Through brokerage I assist apartment investors and developers in achieving the highest possible levels of return and build an advisory relationship that lasts ownership life-cycles instead of just a transaction.
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APARTMENT MARKET LENDING DYNAMICS :: Interest-Only Loans May Prove Risky―Eventually, even though all is rosy right now

APARTMENT MARKET LENDING DYNAMICS :: Interest-Only Loans May Prove Risky―Eventually, even though all is rosy right now | Dylan Simon -- Kidder Mathews | Scoop.it

The commercial mortgage industry is blessed with almost optimal conditions. Demand is boosted by a plethora of equity sources chasing deals that keeps transaction volume high. Low interest rates have increased demand for refinancing from borrowers that want to lock in long-term debt at low rates. 

It would be a mistake, however, to believe nothing can go wrong.

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APARTMENT MARKET LENDING DYNAMICS :: Interest-Only Loans May Prove Risky―Eventually, even though all is rosy right now

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SEATTLE-AREA APARTMENT SALE :: ConAm Sells Avery at the Reserve in Federal Way for $90M / $225k per unit / $258 NRSF

SEATTLE-AREA APARTMENT SALE :: ConAm Sells Avery at the Reserve in Federal Way for $90M / $225k per unit / $258 NRSF | Dylan Simon -- Kidder Mathews | Scoop.it
Encore features 401 units in one-, two- and three-bedroom floorplans that average 887 square feet. According to Yardi Matrix, the property is 91.8 percent occupied with tenants paying an average of $1,497. The property is located on a 39.2-acre site
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SEATTLE-AREA APARTMENT SALE :: ConAm Sells Avery at the Reserve in Federal Way for $90M / $225k per unit / $258 NRSF

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COMMERCIAL REAL ESTATE CAPITAL :: Real Estate Private Equity Fundraising Tumbles in Q4 2019 -- investor struggle to find yield

COMMERCIAL REAL ESTATE CAPITAL :: Real Estate Private Equity Fundraising Tumbles in Q4 2019 -- investor struggle to find yield | Dylan Simon -- Kidder Mathews | Scoop.it
Real estate funds closed in the fourth quarter of 2019 totaled $18 billion, the Wall Street Journal reported, citing data from Preqin. That’s down from the $47 billion raised in the third quarter and was the slowest quarter since 2013.
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COMMERCIAL REAL ESTATE CAPITAL :: Real Estate Private Equity Fundraising Tumbles in Q4 2019 -- investor struggle to find yield

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APARTMENT MANAGEMENT TIPS ::  Five winter don'ts for multifamily property managers -- this couldn't be more timely for Seattle apartment managers!

APARTMENT MANAGEMENT TIPS ::  Five winter don'ts for multifamily property managers -- this couldn't be more timely for Seattle apartment managers! | Dylan Simon -- Kidder Mathews | Scoop.it
Five winter don'ts for multifamily property managers-
By Jack DevedjianThe Habitat CompanyFrom frigid temperatures and piles of snow to burst pipes and icy sidewalks, danger can lurk around every corner of a Chicago apartment property during winter. But, with some advance planning and a focu
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APARTMENT MANAGEMENT TIPS ::  Five winter don'ts for multifamily property managers -- this couldn't be more timely for Seattle apartment managers!

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SEATTLE JOB GROWTH :: Kaiser Permanente investing $1 billion in three Puget Sound projects ... with $750M directed in First Hill & Yesler Terrace

SEATTLE JOB GROWTH :: Kaiser Permanente investing $1 billion in three Puget Sound projects ... with $750M directed in First Hill & Yesler Terrace | Dylan Simon -- Kidder Mathews | Scoop.it
Kaiser Permanente shares details of $1 billion Puget Sound investment that will bring new projects to Seattle's Yesler Terrace and to Everett.
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SEATTLE JOB GROWTH :: Kaiser Permanente investing $1 billion in three Puget Sound projects ... with $750M directed in First Hill & Yesler Terrace

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SEATTLE APARTMENT DEVELOPMENT :: Seattle black-owned company to develop part church property in CD -- CONGRATS to GardnerGlobal for its commitment to the Central District!

SEATTLE APARTMENT DEVELOPMENT :: Seattle black-owned company to develop part church property in CD -- CONGRATS to GardnerGlobal for its commitment to the Central District! | Dylan Simon -- Kidder Mathews | Scoop.it
GardnerGlobal said Monday it is under contract to buy Mount Calvary Christian Center's parking lot and teen building at 1429 23rd Ave., across the street from the congregation's church building. GardnerGlobal subsidiary Onpoint Real Estate will lead development of the six-story, mixed-income project with community space.
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SEATTLE APARTMENT DEVELOPMENT :: Seattle black-owned company to develop part church property in CD -- CONGRATS to GardnerGlobal for its commitment to the Central District!

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APARTMENT DEVELOPMENT DYNAMICS :: RealPage Reports a Surge in Scheduled Apartment Completions in 2020

APARTMENT DEVELOPMENT DYNAMICS :: RealPage Reports a Surge in Scheduled Apartment Completions in 2020 | Dylan Simon -- Kidder Mathews | Scoop.it

Occupancy Hits Near-Record Level, and Rents Rise

Apartment occupancy at the end of 2019 stood at 95.8 percent. Since leasing is always seasonally slow in the fourth quarter, that figure is off from the rate of 96.3 percent posted in the third quarter. Still, late 2019 occupancy topped the year-earlier reading of 95.4 percent.

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APARTMENT DEVELOPMENT DYNAMICS :: RealPage Reports a Surge in Scheduled Apartment Completions in 2020

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SEATTLE TECH SCENE:  Funding to Seattle-area startups reaches record $3.5 billion in 2019, up 20% y-o-y

SEATTLE TECH SCENE:  Funding to Seattle-area startups reaches record $3.5 billion in 2019, up 20% y-o-y | Dylan Simon -- Kidder Mathews | Scoop.it
The massive cash influx — up 20 percent from 2018 —  was driven by mega-deals for billion-dollar startups such as Convoy, Outreach, Auth0, Icertis, and others, as well as a flurry of other deals (385 in total, up from 348 in 2018). There were seven deals in excess of $100 million, compared to four last year.
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SEATTLE TECH SCENE:  Funding to Seattle-area startups reaches record $3.5 billion in 2019, up 20% y-o-y

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CREFC Miami 2020 :: Business Is Booming, but No One can Stop Talking About the Risks ... the bankers and the lawyers are nervous, should investors be?

CREFC Miami 2020 :: Business Is Booming, but No One can Stop Talking About the Risks ... the bankers and the lawyers are nervous, should investors be? | Dylan Simon -- Kidder Mathews | Scoop.it
But most recession chatter swirled around the limitless subject of the risks that could bring the ten-year expansion to a halt. That talk isn’t new — as the slightly punchy real estate lawyer said, it’s been the seventh inning for three or four years now. But the list of potentially game-ending snags has rarely seemed more abundant.
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CREFC Miami 2020 :: Business Is Booming, but No One can Stop Talking About the Risks ... the bankers and the lawyers are nervous, should investors be?

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How Can Developers Fend Off the NIMBY Crowd? Be Patient and Just as Local ... examples that its not just Seattle where development is proving more difficult to entitle land!

How Can Developers Fend Off the NIMBY Crowd?  Be Patient and Just as Local ... examples that its not just Seattle where development is proving more difficult to entitle land! | Dylan Simon -- Kidder Mathews | Scoop.it

The suation is so bad in some California communities that the state in 2017 enacted SB 35, a law that lets developers fast-track getting certain approvals from communities that have fallen show to state-mandate home building guidelines if the project can meet affordable housing requirements and other standards. “The goal of SB 35 is to get projects unstuck in communities that are not meeting their housing goals,” California state Sen. Scott Wiener, who sponsored SB35, told the San Francisco Chronicle.

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How Can Developers Fend Off the NIMBY Crowd?  Be Patient and Just as Local ... examples that its not just Seattle where development is proving more difficult to entitle land!

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SEATTLE AREA APARTMENT SALES :: Phoenix Realty, Hanover Acquire 2 Seattle-Area Properties for $79M, portfolio totals 361 units

SEATTLE AREA APARTMENT SALES :: Phoenix Realty, Hanover Acquire 2 Seattle-Area Properties for $79M, portfolio totals 361 units | Dylan Simon -- Kidder Mathews | Scoop.it
Citing the strong local economy and population growth, joint venture partners Phoenix Realty Group and Hanover Real Estate Investors have acquired two apartment communities in the Kent, Wash., submarket for $79 million in a value-add play. Lake Meridian and Royal Firs, with a total of 361 units, were owned by the same individual who sold the Seattle area-properties as a portfolio.
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SEATTLE AREA APARTMENT SALES :: Phoenix Realty, Hanover Acquire 2 Seattle-Area Properties for $79M, portfolio totals 361 units

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COMMERCIAL REAL ESTATE LENDING :: CRE originators are getting ready for a busy year in 2020, with abundant capital flow

COMMERCIAL REAL ESTATE LENDING :: CRE originators are getting ready for a busy year in 2020, with abundant capital flow | Dylan Simon -- Kidder Mathews | Scoop.it
"Buoyed by low interest rates, strong property markets and rising property values, commercial and multifamily mortgage banking firms expect a solid year in 2020," said Jamie Woodwell, MBA's Vice President Commercial Real Estate Research. "Most anticipate strong appetites from lenders and borrowers and expect overall levels of mortgage borrowing and lending to increase.
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COMMERCIAL REAL ESTATE LENDING :: CRE originators are getting ready for a busy year in 2020, with abundant capital flow

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APARTMENT DEVELOPMENT TRENDS :: Multifamily Permits and Starts Continue to Climb, signaling continued vibrancy in the apartment sector

APARTMENT DEVELOPMENT TRENDS :: Multifamily Permits and Starts Continue to Climb, signaling continued vibrancy in the apartment sector | Dylan Simon -- Kidder Mathews | Scoop.it
Multifamily permits reached 524,000 units in the year-ending November, the most the market has issued since 2015. This volume was 4.4% greater than the October showing and jumped 16.4% over year-ago figures. Annual multifamily permit volumes have averaged at about 500,000 units over the past four months, well over the average of 430,000 units the market has seen since mid-2016.
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APARTMENT DEVELOPMENT TRENDS :: Multifamily Permits and Starts Continue to Climb, signaling continued vibrancy in the apartment sector

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APARTMENT MANAGEMENT PRACTICES :: Appealing to the Modern Renter’s Economic Mind, from industry expert Lynn Owen

APARTMENT MANAGEMENT PRACTICES :: Appealing to the Modern Renter’s Economic Mind, from industry expert Lynn Owen | Dylan Simon -- Kidder Mathews | Scoop.it
Today’s world is all about convenience and speed—we are all looking for ways to make our lives easier and more efficient and it is no different for the modern renter. It is up to multifamily operators to ensure they are delivering a leasing and living experience that not only meets the demands of today but exceeds the expectations of tomorrow.
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APARTMENT MANAGEMENT PRACTICES :: Appealing to the Modern Renter’s Economic Mind, from industry expert Lynn Owen

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UPDATES FROM THE APARTMENT INDUSTRY'S LARGEST ANNUAL EVENT :: Apartment Investors Share Tactics for Shifting Market

UPDATES FROM THE APARTMENT INDUSTRY'S LARGEST ANNUAL EVENT :: Apartment Investors Share Tactics for Shifting Market | Dylan Simon -- Kidder Mathews | Scoop.it

Multifamily assets maintain high status among investors, second perhaps only to industrial assets. A new investor class taking greater interest in the sector is foreign capital, a trend that is still in its early stages.

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UPDATES FROM THE APARTMENT INDUSTRY'S LARGEST ANNUAL EVENT :: Apartment Investors Share Tactics for Shifting Market

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Multifamily Pros Work to Unlock the Value of Historic Buildings

Multifamily Pros Work to Unlock the Value of Historic Buildings | Dylan Simon -- Kidder Mathews | Scoop.it
Landmark buildings often sit on some of the most desirable locations in their markets. That especially true as developers return to once-neglected downtowns and waterfronts in cities from Brooklyn, N.Y., to Nashville, Tenn. Because a historic designation typically prevents demolition, the only way that owners can tap the value of their properties is through renovation.
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Multifamily Pros Work to Unlock the Value of Historic Buildings

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MULTIFAMILY LENDING ::  Intense competition for apartment loans has Non-Agency Lenders scuffling for Agency Market Share

MULTIFAMILY LENDING ::  Intense competition for apartment loans has Non-Agency Lenders scuffling for Agency Market Share | Dylan Simon -- Kidder Mathews | Scoop.it
The multifamily market becomes more and more liquid every year — projected to reach $390 billion in originations in 2020, up from a mere $250 billion just a few years ago in 2015, according to projections released by the Mortgage Bankers Association (MBA) in September 2019. Together, Fannie Mae and Freddie Mac, the government-sponsored enterprises that guarantee a tidal wave of multifamily debt, are poised to corner just over 40 percent of the market this year.
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MULTIFAMILY LENDING ::  Intense competition for apartment loans has Non-Agency Lenders scuffling for Agency Market Share

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SEATTLE TECH JOB GROWTH :: Convoy continues rapid growth with 100 hires in 2 months -- one of my FAVORITE "efficiency" companies continues rapid tech-hiring in Seattle!

SEATTLE TECH JOB GROWTH :: Convoy continues rapid growth with 100 hires in 2 months -- one of my FAVORITE "efficiency" companies continues rapid tech-hiring in Seattle! | Dylan Simon -- Kidder Mathews | Scoop.it
Company co-founder and Chief Technology Officer Grant Goodale said Convoy currently has more than 900 employees. Founded in 2015, Convoy raised a $400 million Series D round in mid-November, driving the digital freight network’s valuation to $2.7 billion. At the time of the funding round, Chief Product Officer Ziad Ismail said the companywide headcount was about 800.
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SEATTLE TECH JOB GROWTH :: Convoy continues rapid growth with 100 hires in 2 months -- one of my FAVORITE "efficiency" companies continues rapid tech-hiring in Seattle!

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What Keeps Multifamily Investors Up at Night?  A recent poll shows one common concern ... cash flow!

What Keeps Multifamily Investors Up at Night?  A recent poll shows one common concern ... cash flow! | Dylan Simon -- Kidder Mathews | Scoop.it

Their number one concern was property-level cash flow, he says. “It makes sense of course. When properties are trading at such low cap rates owners need to be right about their assumptions.”

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What Keeps Multifamily Investors Up at Night?  A recent poll shows one common concern ... cash flow!

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SEATTLE TECH JOBS :: Seattle’s ExtraHop expects $100M ARR in 2020, IPO the following year -- just one of 100s of thriving Seattle start-ups!

SEATTLE TECH JOBS :: Seattle’s ExtraHop expects $100M ARR in 2020, IPO the following year -- just one of 100s of thriving Seattle start-ups! | Dylan Simon -- Kidder Mathews | Scoop.it
Today we’re continuing our series on companies that have reached the $100 million annual recurring revenue (ARR) threshold, or are about to. ExtraHop is the company of the day, a Seattle-based firm that deals with cloud analytics and a portion of the security world called “network detection and response.”
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SEATTLE TECH JOBS :: Seattle’s ExtraHop expects $100M ARR in 2020, IPO the following year -- just one of 100s of thriving Seattle start-ups!

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SEATTLE APARTMENT DEVELOPMENT :: Carmel, Encore show final design for 227-unit building on First Hill

Encore Architects is designing the project, now apparently called The Victor.
Units will range from open one-bedrooms to two-bedrooms. Some units will have balconies or terraces and two levels of underground parking, with 131 stalls, will be accessed from the alley to the north. There will be 184 bike stalls, too.

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SEATTLE APARTMENT DEVELOPMENT :: Carmel, Encore show final design for 227-unit building on First Hill

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WHAT TO EXPECT IN CRE INVESTMENT IN 2020 :: Top 10 CRE Investment Predictions for 2020

WHAT TO EXPECT IN CRE INVESTMENT IN 2020 :: Top 10 CRE Investment Predictions for 2020 | Dylan Simon -- Kidder Mathews | Scoop.it
At this moment, 2020 looks well positioned for further growth for commercial real estate, albeit perhaps not as much as the pace seen in the last few years. Following are 10 investment predictions for the year that will help shape this year’s growth.
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WHAT TO EXPECT IN CRE INVESTMENT IN 2020 :: Top 10 CRE Investment Predictions for 2020

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MULTIFAMILY LENDING :: Freddie Mac: Originations Will Hit $390B in 2020 -- agencies expect continued investment in apartments will help them continue to provide debt liquidity

MULTIFAMILY LENDING :: Freddie Mac: Originations Will Hit $390B in 2020 -- agencies expect continued investment in apartments will help them continue to provide debt liquidity | Dylan Simon -- Kidder Mathews | Scoop.it
Freddie Mac is expecting continued growth in the multifamily market throughout 2020. In its just-released Multifamily 2020 Outlook report, the government-sponsored enterprise predicted that final numbers from 2019 will show the multifamily market in the U.S. finishing 2019 with solid rent growth and only modest vacancy rate increases, despite an increased amount of supply.
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MULTIFAMILY LENDING :: Freddie Mac: Originations Will Hit $390B in 2020 -- agencies expect continued investment in apartments will help them continue to provide debt liquidity

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VIDEO: Mark Zandi, Moody's Chief Economist on the Real Estate Economy in 2020 -- which property types will be the winners, which the losers

VIDEO: Mark Zandi, Moody's Chief Economist on the Real Estate Economy in 2020 -- which property types will be the winners, which the losers | Dylan Simon -- Kidder Mathews | Scoop.it
Zandi, chief economist for Moody's Analytics, believes the office market should start discounting for progressively slower job growth. Here's what else he said about the real estate economy in 2020.
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VIDEO: Mark Zandi, Moody's Chief Economist on the Real Estate Economy in 2020 -- which property types will be the winners, which the losers

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Apartment Outlook 2020: Riding the Zenith -- Multifamily remains a red-hot asset class for buyers and sellers alike

Apartment Outlook 2020: Riding the Zenith -- Multifamily remains a red-hot asset class for buyers and sellers alike | Dylan Simon -- Kidder Mathews | Scoop.it
Commercial real estate in general has become a much more discovered asset class and a bigger part of portfolios, and multifamily is the easiest to understand and has the best liquidity. Everyone from high net worth to the family
office and private equity are allocating larger percentages as they search for yield because they are so yield starved in other investment alternatives.”
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Apartment Outlook 2020: Riding the Zenith -- Multifamily remains a red-hot asset class for buyers and sellers alike

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