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 LENDING: Multifamily Borrowers Might Benefit from Better Terms with CMBS Loans versus Freddie Mac and Fannie Mae

APARTMENT LENDING: Multifamily Borrowers Might Benefit from Better Terms with CMBS Loans versus Freddie Mac and Fannie Mae | Dylan Simon -- Kidder Mathews | Scoop.it

CMBS lenders offered interest rates fixed roughly 250 basis points over the “swaps” rate on August 22 for loans equal to about 75 percent of the value of an apartment property. That tended to work out to an all-in interest rate a few basis points over 4.0 percent.

Those rates are lower than what Freddie Mac and Fannie Mae lenders typically offered in mid-August. Agency lenders offered 10-year loans fixed at 260 basis points over the yield on 10-year Treasury bonds on August 22 for loans equal to about 70 percent of the value of an apartment property.

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SEATTLE APARTMENT DEVELOPMENT: 256-Unit Residential Development Proposed by GGLO and AMLI on Seattle's emerging waterfront

SEATTLE APARTMENT DEVELOPMENT: 256-Unit Residential Development Proposed by GGLO and AMLI on Seattle's emerging waterfront | Dylan Simon -- Kidder Mathews | Scoop.it
Project documents also indicate that 7,658 square feet of commercial and retail space, as well as 7,065 square feet of amenity space, are included in the plans. 159 vehicle parking spaces, both below and at-grade will be part of the development upon completion.
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SEATTLE APARTMENT DEVELOPMENT: SU Development plans 23 story-twin towers with 365 units on Yesler Terrace

BCJ's program for the site is about the same. The two 23-story towers would rise from the site on the south side of Yesler, commonly called Block 6.1, which totals a little less than an acre.

The towers would be phased, with the north tower preceding the south. They would total about 365 units. Below in the podium would be around 10,000 square feet of retail/commercial space. About 248 parking spaces, both underground and structured, are also planned.

Both towers would have roof decks with around 8,000 square feet each. Total project size is around 360,000 square feet.
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Yield Curve Inversion Might Be Good for CRE Industry as investors look to more certain levels of return

Yield Curve Inversion Might Be Good for CRE Industry as investors look to more certain levels of return | Dylan Simon -- Kidder Mathews | Scoop.it
“The gap between the yields available on bonds and the yields available on real estate [is] very wide and very attractive,” he notes. “Investors that want to preserve their portfolio returns will probably switch out of bonds and into real estate because of the differential that’s opened up between the forward-looking returns on bonds and the forward-looking returns on real estate.”
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BELLEVUE APARTMENT DEVELOPMENT :: Pinnacle files first multifamily plan on its 11 acre Bellevue development site -- just one of many new projects planned in downtown Bellevue

BELLEVUE APARTMENT DEVELOPMENT :: Pinnacle files first multifamily plan on its 11 acre Bellevue development site -- just one of many new projects planned in downtown Bellevue | Dylan Simon -- Kidder Mathews | Scoop.it
The proposed six-story building would have 104 units; whether condominiums or rentals isn't specified.
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INVESTMENT TRENDS:  Office Investors Strategically Shift to Suburban Product -- How will this impact rents in suburban apartment buildings?  

INVESTMENT TRENDS:  Office Investors Strategically Shift to Suburban Product -- How will this impact rents in suburban apartment buildings?   | Dylan Simon -- Kidder Mathews | Scoop.it
Select suburban markets with strong job growth are seeing strong increases in investment activity.
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SEATTLE TECH NEWS: T-Mobile gets federal approval for merger with Sprint -- more great news for tech employment and regional growth on the Eastside

SEATTLE TECH NEWS: T-Mobile gets federal approval for merger with Sprint -- more great news for tech employment and regional growth on the Eastside | Dylan Simon -- Kidder Mathews | Scoop.it
After nearly a decade of foiled attempts to either buy or be bought by a rival wireless carrier, T-Mobile is one huge step closer to its goal.
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SEATTLE RENT GROWTH:  Strong Seattle job growth is leading to massive apartment absorption & rent growth back on track!

SEATTLE RENT GROWTH:  Strong Seattle job growth is leading to massive apartment absorption & rent growth back on track! | Dylan Simon -- Kidder Mathews | Scoop.it
For much of 2018, renters in the Seattle area saw flat and even declining rents as apartment supplies finally caught up with demand. But as new rental data shows, that was a fluke, not a trend.
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APARTMENT REDEVELOPMENT TRENDS: Redeveloping With Millennials in Mind

APARTMENT REDEVELOPMENT TRENDS: Redeveloping With Millennials in Mind | Dylan Simon -- Kidder Mathews | Scoop.it
Moving into 2020, Millennials desire flexibility not only in common areas but in resident units. Specifically, we’re seeing a shift from closed off, formal rooms to open-concept floor plans that allow plug & play for different concepts while accommodating multiple life and family stages. For example, the formal dining room with the classic chandelier lighting is considered all but dead in redevelopment. Residents prefer the blending of functionality and entertainment with the kitchen opening up to the living room or the dining room doubling as a study.
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APARTMENT RENT DYNAMICS: Multifamily Rents Continue to Rise Through July 2019 | Multifamily Executive Magazine

APARTMENT RENT DYNAMICS: Multifamily Rents Continue to Rise Through July 2019 | Multifamily Executive Magazine | Dylan Simon -- Kidder Mathews | Scoop.it
The national average multifamily rent rose $3 to $1,469 in July 2019, while year-over-year rent growth rose to 3.4%, up 10 basis points from June. According to the latest Yardi Matrix Multifamily National Report, this marks the 13th month in which rent has risen over 3% on a year-over-year basis.
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Architect report shows trade war hitting commercial real estate, as architectural billings continue to serve as a leading indicator of industry activity

Architect report shows trade war hitting commercial real estate, as architectural billings continue to serve as a leading indicator of industry activity | Dylan Simon -- Kidder Mathews | Scoop.it
“A growing number of architecture firms are reporting that the ongoing volatility in the trade situation, the stock market, and interest rates are causing some of their clients to proceed more cautiously on current projects,” the group’s chief economist says.
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REDMOND APARTMENT DEVELOPMENT: 88-unit apartment building planned in downtown Redmond -- site sold for nearly $100k/unit and $330 land square foot

Total project size, including the parking, is around 145,000 square feet. The 80 parking stalls will be both underground and structured. A retail/commercial bay with about 1,000 square feet will go on the building's south prow, toward Leary Way.
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MULTIFAMILY FINANCE: Interest Rate Cut Won’t Have Dramatic Impact on CRE, experts predict :: But what does 2020 hold?

MULTIFAMILY FINANCE: Interest Rate Cut Won’t Have Dramatic Impact on CRE, experts predict :: But what does 2020 hold? | Dylan Simon -- Kidder Mathews | Scoop.it
The quarter percentage point cut won’t have a significant impact on the commercial real estate industry, industry sources say.
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APARTMENT OWNER LEGISLATION: New ordinance requires owners to give notice to sell their building; expands penalties for non-compliance

APARTMENT OWNER LEGISLATION: New ordinance requires owners to give notice to sell their building; expands penalties for non-compliance | Dylan Simon -- Kidder Mathews | Scoop.it
The new legislation expands the policy to include buildings of two or more apartments
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Roadmap to Opportunity Zones :: Want the skinney on OZ regulations, take a look as timeframes are getting tight!

Roadmap to Opportunity Zones :: Want the skinney on OZ regulations, take a look as timeframes are getting tight! | Dylan Simon -- Kidder Mathews | Scoop.it
The clock is ticking for you to take advantage of the latest economic stimulus program. Do you have what it takes?
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