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 TRENDS: What Is Innovative Living and Why Is It the Future?  Micro-units and co-living heralded as the "next big thing in urban living"

APARTMENT TRENDS: What Is Innovative Living and Why Is It the Future?  Micro-units and co-living heralded as the "next big thing in urban living" | Dylan Simon -- Kidder Mathews | Scoop.it
Recognizing these characteristics, we’re heralding micro units and co-living spaces as the next big thing in urban living. They’re attractive to young residents who haven’t yet accumulated wealth and who are willing to trade square footage for the all-important proximity to vibrant downtown areas. Such buildings often offer curated and organic social events, providing the community experience that many crave in otherwise impersonal city environments. And for landlords? The ability to cultivate a desirable environment in your building, generate strong demand, and achieve higher yield per foot than traditional leases.
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SEATTLE APARTMENT DEVELOPMENT: Mill Creek Announces Groundbreaking of Modera Broadway in Seattle ::  228 apartment homes in two buildings – including 10 live/work homes  and 9,125 square feet of re...

SEATTLE APARTMENT DEVELOPMENT: Mill Creek Announces Groundbreaking of Modera Broadway in Seattle ::  228 apartment homes in two buildings – including 10 live/work homes  and 9,125 square feet of re... | Dylan Simon -- Kidder Mathews | Scoop.it
Modera Broadway, under construction along Broadway at East Howell Street, will feature 228 apartment homes in two buildings – including 10 live/work homes – and 9,125 square feet of retail space
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SEATTLE APARTMENT DEVELOPMENT: Lincoln Property Company unveils design for 53-story Seattle tower with 568 residential units &104 parking spaces on five underground levels

The planned 53-story tower would have 568 units and 104 parking spaces on five underground levels.
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BELLEVUE MIXED-USE DEVELOPMENT: Plans emerge for massive 4.1M square foot development :: Cloudvue includes about 1.7M of offices, 515 “high income” residential units & 40k square feet of retail, re...

Cloudvue would be even larger than Elev8, with about 4.1 million square feet (up from 3 million square feet).

The plan includes about 1.7 million square feet of offices. About 515 “high income” residential units are planned, but whether condos or rentals isn't specified. About 40,000 square feet would be for retail, restaurants and public space.
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APARTMENT TECH NEWS: Older apartments need tech too -- how older apartment retrofits help compete in a tech-centric world of renters!

APARTMENT TECH NEWS: Older apartments need tech too -- how older apartment retrofits help compete in a tech-centric world of renters! | Dylan Simon -- Kidder Mathews | Scoop.it
“We’re in the middle of an amenity war, and brand-new properties hold the high ground,” says Sanders, who operates 1,749 apartment units across 11 communities, which are 40 years old on average. “Technology is one area where we can get the upper hand because it’s relatively easy to retrofit units with smart home systems.”

By installing features like smart locks, thermostats, lights, and door and window sensors in those existing units, Sanders has been able to gain her own ground in that amenity war, in the name of higher rents—a bump of 4%, on average, for those units.
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How the Recession of 2020 Could Happen: Whether you believe so or not -- its good to know the arguments!

How the Recession of 2020 Could Happen: Whether you believe so or not -- its good to know the arguments! | Dylan Simon -- Kidder Mathews | Scoop.it
The freeze-up in business confidence, caused in part by the trade war, could wind up affecting consumer confidence.
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In IPO filing, WeWork claims it can thrive in a recession as troubling indicator tanks stock market – funneling investment dollars into office space is a "new" recessionary tactic, to say the least

In IPO filing, WeWork claims it can thrive in a recession as troubling indicator tanks stock market – funneling investment dollars into office space is a "new" recessionary tactic, to say the least | Dylan Simon -- Kidder Mathews | Scoop.it
“Not only do we believe our business model mitigates the pressures of an economic recession, we also believe that our model could position us well in a downturn,” according to the filing. “An economic downturn may provide us an opportunity to further scale our platform at more attractive unit economics.
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In IPO filing, WeWork claims it can thrive in a recession as troubling indicator tanks stock market – funneling investment dollars into office space is a "new" recessionary tactic, to say the least

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RECESSION WATCH: What is an ‘inverted yield curve’ and why does it matter? -- Fear in the bond/equity markets good for the CRE markets

RECESSION WATCH: What is an ‘inverted yield curve’ and why does it matter? -- Fear in the bond/equity markets good for the CRE markets | Dylan Simon -- Kidder Mathews | Scoop.it
Investors are spooked by a scenario known as the “inverted yield curve,” which occurs when the interest rates on short-term bonds are higher than the interest rates paid by long-term bonds. What it means is that people are so worried about the near-term future that they are piling into safer long-term investments.
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RECESSION WATCH: What is an ‘inverted yield curve’ and why does it matter? -- Fear in the bond/equity markets good for the CRE markets

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WHERE TO INVEST IN MULTIFAMILY: The Strength Of Workforce Housing As An Investment Class

WHERE TO INVEST IN MULTIFAMILY: The Strength Of Workforce Housing As An Investment Class | Dylan Simon -- Kidder Mathews | Scoop.it
Essentially, workforce housing often appeals to those residents who earn too much income to qualify for subsidized affordable housing accommodations, but not nearly enough to satisfy the necessary income thresholds to purchase a home or rent the luxury apartments that have proliferated in recent years — a segment of the population that is only growing.
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WHERE TO INVEST IN MULTIFAMILY: The Strength Of Workforce Housing As An Investment Class

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PUGET SOUND OFFICE RENT GROWTH: Downtown Seattle Office Rent Growth Now Competing With Eastside Markets -- Bellevue CBD office rent growth bests Seattle

PUGET SOUND OFFICE RENT GROWTH: Downtown Seattle Office Rent Growth Now Competing With Eastside Markets -- Bellevue CBD office rent growth bests Seattle | Dylan Simon -- Kidder Mathews | Scoop.it
Market Stat: Near Term for the Neighborhood Is Still Rocky Though
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SEATTLE APARTMENT SALE: Majestic Bay in Des Moines sells for $18MM -- $222k/unit -- $201NRSF

SEATTLE APARTMENT SALE: Majestic Bay in Des Moines sells for $18MM -- $222k/unit -- $201NRSF | Dylan Simon -- Kidder Mathews | Scoop.it
Seattle, New Standard Equities, Weidner Apartment Homes, Federal Way, Des Moines, Majestic Bay Townhomes, Renton, Lynnwood
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SEATTLE APARTMENT SALE: Majestic Bay in Des Moines sells for $18MM -- $222k/unit -- $201NRSF

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APARTMENT DEVELOPMENT TRENDS: How Innovative Developers Are Finding Ways to Make Projects Work

APARTMENT DEVELOPMENT TRENDS: How Innovative Developers Are Finding Ways to Make Projects Work | Dylan Simon -- Kidder Mathews | Scoop.it
Now more than ever, developers are examining every part of their buildings and their businesses in search of new ideas (or new twists on old practices) that could make projects pencil. Their search for more and better-spent dollars has led to a rethink of everything they do, including whether today’s renter actually wants a home.
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SEATTLE APARTMENT SALE: Continental Properties sells 2nd + John for $39M -- $487,500/unit -- $700/NRSF

The new 80-unit 2nd & John Apartments, at 200 Second Ave. W. in Uptown, have sold for just over $39 million, according to King County records.
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SEATTLE APARTMENT SALE: Continental Properties sells 2nd + John for $39M -- $487,500/unit -- $700/NRSF

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SEATTLE APARTMENT RENT TRENDS: While for-sale housing market balances out, Seattle rent continues skyward in markets from Everett to Lakewood

SEATTLE APARTMENT RENT TRENDS: While for-sale housing market balances out, Seattle rent continues skyward in markets from Everett to Lakewood | Dylan Simon -- Kidder Mathews | Scoop.it

You’d be hard-pressed to find a city in the Puget Sound region that isn’t getting increasingly more expensive to rent in. Locales from Everett all the way down to Lakewood saw sizable year-over-year increases in median two-bedroom rent in August. The latter saw the highest increase of any city in the Seattle metro area, sitting around 4.5 percent, three times the national average.

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Want to know why Seattle is an a 20-year economic bull-run?  Data is the new oil ...

Want to know why Seattle is an a 20-year economic bull-run?  Data is the new oil ... | Dylan Simon -- Kidder Mathews | Scoop.it
Seattle stands out as an AI hotspot, largely due to a talent pool of engineers cultivated by the likes of Microsoft and Amazon as well as research institutions such as the University of Washington and the Allen Institute for Artificial Intelligence. And we’re not just talking about computer science and engineering majors. 
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APARTMENT RENT & OCCUPANCY TRENDS: Apartment Occupancy Rate Hits a New High This Cycle

APARTMENT RENT & OCCUPANCY TRENDS: Apartment Occupancy Rate Hits a New High This Cycle | Dylan Simon -- Kidder Mathews | Scoop.it
The average apartment occupancy rate in the U.S. rose to 96.2 percent in July, up 40 basis points from the year before, according to RealPage. That’s the highest the occupancy rate has been since 2000.

Average rents are also growing faster than inflation. “Annual rent growth for new resident leases is solid at 3.1 percent,” says Willett. But the high demand could be pushing rents higher more quickly, he notes. “Price growth isn’t pushing upward the same way that occupancy is.”
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APARTMENT DEVELOPMENT TRENDS: Developers in Major US Cities Bet on Surge in Co-living Apartment Demand

APARTMENT DEVELOPMENT TRENDS: Developers in Major US Cities Bet on Surge in Co-living Apartment Demand | Dylan Simon -- Kidder Mathews | Scoop.it

Coliving, similar to a college dorm suite with common areas, is taking off as more renters warm to the concept as a way to combat pricey rents in Miami and other major U.S. cities. The amount of U.S. coliving beds is expected to more than triple from 3,700 to 13,000 over the next few years, according to Cushman & Wakefield. There are currently 9,300 coliving beds under construction in the U.S. as growth in apartment rents outpace wage increases.Click here to edit the content

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Real Estate Roundtable Survey: Q3 Sentiment Balanced & Stable

Commercial real estate industry leaders continue to see balanced and stable economic market conditions, according to The Real Estate Roundtable’s 2019 Q3 Sentiment Index. The latest survey registered a score of 50, a one-point decrease from the previous quarter. Both the Current-Conditions Index of 53 and Future-Conditions Index of 48 for this quarter remained the same from the previous quarter, reflecting the stabilized real estate market conditions and the overall economy.
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Real Estate Roundtable Survey: Q3 Sentiment Balanced & Stable

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SEATTLE LAND SALE:  Unico sells SLU development site into new venture for $28M, which equates to $1,918 per land square foot -- showing a trend of land inching towards the $2,000 square foot mark!

The north end of the former Pemco headquarters block, at 330 Yale Ave N. in the Eastlake/South Lake Union neighborhood, has sold for $28.3 million, according to King County records.
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SEATTLE LAND SALE:  Unico sells SLU development site into new venture for $28M, which equates to $1,918 per land square foot -- showing a trend of land inching towards the $2,000 square foot mark!

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SEATTLE SEDU DEVELOPMENT: 108-Unit SEDU Residential Development in Seattle’s First Hill Neighborhood -- learn move about SEDUs at dylansimon.com

SEATTLE SEDU DEVELOPMENT: 108-Unit SEDU Residential Development in Seattle’s First Hill Neighborhood -- learn move about SEDUs at dylansimon.com | Dylan Simon -- Kidder Mathews | Scoop.it

Seattle has led in the amount of micro-housing developed since 2009. As of the third quarter of last year, Seattle had a total of 6,297 SEDUs, most of which range from between 240 to 320 square feet, according to the report by Jerrid Anderson of Kidder Mathews

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SEATTLE SEDU DEVELOPMENT: 108-Unit SEDU Residential Development in Seattle’s First Hill Neighborhood -- learn move about SEDUs at dylansimon.com

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CLASS A OFFICE DYNAMICS: Office Vacancy Reaches Lowest Level in 18 years in Second Quarter -- occupancy greatest in technology markets

CLASS A OFFICE DYNAMICS: Office Vacancy Reaches Lowest Level in 18 years in Second Quarter -- occupancy greatest in technology markets | Dylan Simon -- Kidder Mathews | Scoop.it
Meanwhile, technology firms continue to be the single biggest occupancy driver, representing 22 percent of all leasing activity in the second quarter, he notes. “As much as growth is broad, there is noticeably unusual growth in a few tech markets,” Anderson adds, citing as examples Seattle, the San Francisco Bay Area and Austin, Texas, which are among top 10 metros for highest office space absorption. “These cities are always ahead of the pack, but this cycle they’re very far ahead.”
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CLASS A OFFICE DYNAMICS: Office Vacancy Reaches Lowest Level in 18 years in Second Quarter -- occupancy greatest in technology markets

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Smart Tech Pays Off for Multifamily Operators -- Residents will pay more for digital amenities -- tech is not just for luxury rental anymore

Smart Tech Pays Off for Multifamily Operators -- Residents will pay more for digital amenities -- tech is not just for luxury rental anymore | Dylan Simon -- Kidder Mathews | Scoop.it

“We are pivoting away from bulk deals on technology services in order to offer more variety. Today, the technology changes so rapidly, the bulk deals can result in obsolete technology in multiple buildings.”

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Smart Tech Pays Off for Multifamily Operators -- Residents will pay more for digital amenities -- tech is not just for luxury rental anymore

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NATIONAL MULTIFAMILY REPORT: Yardi-Matrix releases its 2019 Summer/Mid-Year report, showing high renter-demand and positive rent growth across all segments

NATIONAL MULTIFAMILY REPORT: Yardi-Matrix releases its 2019 Summer/Mid-Year report, showing high renter-demand and positive rent growth across all segments | Dylan Simon -- Kidder Mathews | Scoop.it
Apartments aimed at the middle- and lower-class continue to thrive when it comes to rent growth. New supply is concentrated in the Lifestyle category but the largest demand comes from Renter-by-Necessity. Rents in this segment rose 3.8 percent year-over-year, while Lifestyle hit just shy of 3 percent.
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NATIONAL MULTIFAMILY REPORT: Yardi-Matrix releases its 2019 Summer/Mid-Year report, showing high renter-demand and positive rent growth across all segments

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APARTMENT INVESTMENT DYNAMICS: Multifamily Continues to Rule CRE -- factors leading to successful apartment investments continue to show resilience

APARTMENT INVESTMENT DYNAMICS: Multifamily Continues to Rule CRE -- factors leading to successful apartment investments continue to show resilience | Dylan Simon -- Kidder Mathews | Scoop.it
There are several drivers behind multifamily, few if any of which showing signs of abating. A plateauing homeownership rate, which has remained at 64.3%, low unemployment and millennial attitudes towards homeownership and renting are among these demand drivers. Then there are the Millennials, a group that continues to gravitate towards apartments even as they get older.
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APARTMENT INVESTMENT DYNAMICS: Multifamily Continues to Rule CRE -- factors leading to successful apartment investments continue to show resilience

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ECONOMIC TRENDS: Homeownership Rate Falls, particularly among Millennials --  proves further resilience for apartment investment market

ECONOMIC TRENDS: Homeownership Rate Falls, particularly among Millennials --  proves further resilience for apartment investment market | Dylan Simon -- Kidder Mathews | Scoop.it
According to the Census Bureau’s Housing Vacancy Survey (HVS), the nation’s homeownership rate in the second quarter of 2019 fell to 64.1%, the lowest since the third quarter of 2017. But it is sta…
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