Dylan Simon -- Colliers International
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Seattle Metro Report: December 2018

Seattle Metro Report: December 2018 | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Tacoma, WA had the largest monthly rental growth rate, up 5.2%. with Redmond, WA close behind at 5.1% last month, making it the second fastest growing.

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Dylan Simon -- Colliers International
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 $3M 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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Real-Estate Funds Have a Problem: Too Much Cash

Real-Estate Funds Have a Problem: Too Much Cash | Dylan Simon -- Colliers International | Scoop.it
Private real-estate fund managers, sitting on record amounts of cash, are finding it increasingly difficult to spend all that money within the deadlines they promised investors.
Dylan Simon's insight:

Private real-estate fund managers, sitting on record amounts of cash, are finding it increasingly difficult to spend all that money within the deadlines they promised investors.

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A Private Equity Firm Has Sold 14,000 East Coast Apartments For Over $3B This Year

A Private Equity Firm Has Sold 14,000 East Coast Apartments For Over $3B This Year | Dylan Simon -- Colliers International | Scoop.it
A Private Equity Firm Has Sold 14,000 East Coast Apartments For Over $3B This Year
Dylan Simon's insight:

"It's a great time to be a seller," Sigmon said. "There's not enough product to meet demand. It just continues to be unbelievable the responses brokers are getting and where the pricing is going. It continues to go higher." 

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Greystar plans 20-story student housing tower in Seattle's U District

Greystar plans 20-story student housing tower in Seattle's U District | Dylan Simon -- Colliers International | Scoop.it
reystar is proposing a 20-story building in the University District at the southeast corner of 12th Avenue Northeast and Northeast 42nd Street, the city's Early Outreach for Design Review Project Blog states. It will have approximately 250 units of housing.
Dylan Simon's insight:

Greystar is proposing a 20-story building in the University District which will have approximately 250 units of housing.

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Google will open new Seattle campus this summer, just across the street from Amazon’s headquarters

Google will open new Seattle campus this summer, just across the street from Amazon’s headquarters | Dylan Simon -- Colliers International | Scoop.it
Later this year, the search giant will begin moving into its massive new South Lake Union campus that has been under construction for nearly two years.
Dylan Simon's insight:

The campus, first announced in 2016 and developed by Vulcan, consists of two blocks with 607,000 square feet of office space and 149 apartments. Google also leased a third nearby block just a few months ago.

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KW Group's comment, March 23, 10:00 AM
http://www.kwdelhi6.com/
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Residential Rent Growth Hits 10-Month High in U.S.

Residential Rent Growth Hits 10-Month High in U.S. | Dylan Simon -- Colliers International | Scoop.it
According to Zillow's February 2019 Real Estate Market Report, residential rent prices grew at their fastest rate in 10 months in February 2019, reaching 2.4 percent year-over-year appreciation.
Dylan Simon's insight:

According to Zillow's February 2019 Real Estate Market Report, residential rent prices grew at their fastest rate in 10 months in February 2019, reaching 2.4 percent year-over-year appreciation.

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Report: San Francisco, Seattle Poised for “Century of Biology”

Report: San Francisco, Seattle Poised for “Century of Biology” | Dylan Simon -- Colliers International | Scoop.it
Among CBRE’s Top-10 Fastest Growing Life Sciences Markets, Seattle ranked first in employment growth.
Dylan Simon's insight:

Among CBRE’s Top-10 Fastest Growing Life Sciences Markets, Seattle ranked first in employment growth.

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WeWork's Rapid Expansion Includes Seattle

WeWork's Rapid Expansion Includes Seattle | Dylan Simon -- Colliers International | Scoop.it
Locally, the company grew from four locations at the end of 2017 to 12 today. By the end of the year, WeWork expects to have 22 locations in the Seattle and Bellevue area.
Dylan Simon's insight:

Locally, the company grew from four locations at the end of 2017 to 12 today. By the end of the year, WeWork expects to have 22 locations in the Seattle and Bellevue area.

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TruAmerica Aims to Hit $1B in Acquisition Volume This Year

TruAmerica Aims to Hit $1B in Acquisition Volume This Year | Dylan Simon -- Colliers International | Scoop.it
This goal matches the firm’s strong acquisition activity in 2018, which hit $960 million. As it has since its inception, TruAmerica will continue to target class-B apartment product, but this year, the firm will also enter new markets in the mid-Atlantic as well as secondary markets on the West and East Coasts.
Dylan Simon's insight:

TruAmerica will continue to target class-B apartment product, but this year, the firm will also enter new markets in the mid-Atlantic as well as secondary markets on the West and East Coasts.

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New Skyline Planned for Seattle Waterfront Gives Post-Viaduct View

New Skyline Planned for Seattle Waterfront Gives Post-Viaduct View | Dylan Simon -- Colliers International | Scoop.it
Building Heights Could Double Along Elliott Bay Amid Larger Revitalization, Freeway Demolition
Dylan Simon's insight:

Building Heights Could Double Along Elliott Bay Amid Larger Revitalization, Freeway Demolition

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Rockwood Markets New $1.25B Commingled Fund with Bay Area and Seattle as Primary Investment Markets

Rockwood Markets New $1.25B Commingled Fund with Bay Area and Seattle as Primary Investment Markets | Dylan Simon -- Colliers International | Scoop.it
Fund XI has a value-add investment strategy, and it will be looking for assets that can deliver net IRRs in the range of 12 percent to 14 percent.
Dylan Simon's insight:

Fund XI has a value-add investment strategy, and it will be looking for assets that can deliver net IRRs in the range of 12 percent to 14 percent.

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Design meeting for 98 units near Roosevelt Station

The Roosevelt light rail station is slated to begin service in 2021
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The Roosevelt light rail station is slated to begin service in 2021

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A Rapidly Growing Population: Boomer Renters 

A Rapidly Growing Population: Boomer Renters  | Dylan Simon -- Colliers International | Scoop.it
According to a recent study by RENTCafe, the number of renters over the age of 60 grew by 43% in the last decade. It’s expected that by the year 2035 seniors will account for one third of the U.S. rental market and become the second largest group of renter households.
Dylan Simon's insight:

According to a recent study by RENTCafe, the number of renters over the age of 60 grew by 43% in the last decade. It’s expected that by the year 2035 seniors will account for one third of the U.S. rental market and become the second largest group of renter households.

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Seattle Reaches $16 Billion in Investment Sales Volume in 2018

Seattle Reaches $16 Billion in Investment Sales Volume in 2018 | Dylan Simon -- Colliers International | Scoop.it
Its relative affordability compared to regions like the San Francisco Bay Area, plethora of talent and clusters of innovative, technology-based companies have driven up investment in recent years, with investment sales volume hitting a record for the past decade in 2018.
Dylan Simon's insight:

Its relative affordability compared to regions like the San Francisco Bay Area, plethora of talent and clusters of innovative, technology-based companies have driven up investment in recent years, with investment sales volume hitting a record for the past decade in 2018.

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60 SEDUs planned near Pike-Pine corridor

60 SEDUs planned near Pike-Pine corridor | Dylan Simon -- Colliers International | Scoop.it
triplex at 1415 Belmont Ave. sold in January for $1.9 million. Now the owner, Belmont 0119 LLC, has filed to redevelop with a seven-story building with up to 60 small efficiency dwelling units, or SEDUs.
Dylan Simon's insight:

 A triplex at 1415 Belmont Ave. sold in January for $1.9 million. Now the owner, Belmont 0119 LLC, has filed to redevelop with a seven-story building with up to 60 small efficiency dwelling units.

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Fueled by Strong Economy, U.S. Labor Force Defies Projected Declines

Fueled by Strong Economy, U.S. Labor Force Defies Projected Declines | Dylan Simon -- Colliers International | Scoop.it
With more people in the workforce than expected, the economy might be able to grow faster without pushing up inflation in a way that would warrant interest rate increases by the Fed.
Dylan Simon's insight:

With more people in the workforce than expected, the economy might be able to grow faster without pushing up inflation in a way that would warrant interest rate increases by the Fed.

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Kemper Development updates plan for Bellevue Square expansion

Kemper Development updates plan for Bellevue Square expansion | Dylan Simon -- Colliers International | Scoop.it
High-profile office tower proposals have been sprouting in downtown Bellevue, and now come plans for even more residential towers.
Dylan Simon's insight:

High-profile office tower proposals have been sprouting in downtown Bellevue, and now come plans for even more residential towers.

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First look at Frank Gehry's ‘anonymous' Building X for Facebook in Redmond

The five-story structure will have about 351,000 square feet of office and lab space.
Dylan Simon's insight:

The five-story structure will have about 351,000 square feet of office and lab space. 

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How’s the economy? Count the cranes to find out

How’s the economy? Count the cranes to find out | Dylan Simon -- Colliers International | Scoop.it

Seattle was the top city in the United States on the latest index, with 59 cranes. Only Toronto, one of two Canadian cities on the list (Calgary is the other), had more, with 104.

Dylan Simon's insight:

The towering cranes that rise above development sites can be a useful financial indicator. Seattle was the top city in the United States on the latest index, with 59 cranes. Only Toronto  had more, with 104.

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Former Chase Building in Downtown Seattle to be Replaced with 150,000 SQFT Mixed-Use Project

Former Chase Building in Downtown Seattle to be Replaced with 150,000 SQFT Mixed-Use Project | Dylan Simon -- Colliers International | Scoop.it
Masterworks plans to construct a nine-story hotel with 270 rooms along with three levels — totaling 70 units — of residential located above the hotel.
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Masterworks plans to construct a nine-story hotel with 270 rooms along with 70 units of residential located above the hotel.

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Seattle Approves Sweeping Measure to Boost Housing Development

Seattle Approves Sweeping Measure to Boost Housing Development | Dylan Simon -- Colliers International | Scoop.it
The plan, which touches 27 neighborhoods, is among the largest rezoning of the city in one fell swoop in recent history. It was structured to create a building boom by allowing developers to work on a larger scale and generate more homes, which is hoped to alleviate Seattle's dearth of affordable places to live
Dylan Simon's insight:

The plan, which touches 27 neighborhoods, is among the largest rezoning of the city in one fell swoop in recent history. It was structured to create a building boom by allowing developers to work on a larger scale and generate more homes, which is hoped to alleviate Seattle's dearth of affordable places to live.

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First look: Images of three-skyscraper Bellevue project emerge

First look: Images of three-skyscraper Bellevue project emerge | Dylan Simon -- Colliers International | Scoop.it
The previously announced project by Vancouver, British Columbia-based Onni Group of Cos., will have three 600-foot-tall towers totaling 1,289 residences, 896,000 square feet of office space, 317 hotel suites and 2,318 underground parking stalls
Dylan Simon's insight:

The previously announced project by Onni Group will have three 600-foot-tall towers totaling 1,289 residences, 896,000 square feet of office space, 317 hotel suites and 2,318 underground parking stalls

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First Condo Conversion Project in Seattle in More Than 10 Years Hits the Market

First Condo Conversion Project in Seattle in More Than 10 Years Hits the Market | Dylan Simon -- Colliers International | Scoop.it
Designed to meet an increasing demand for entry-level, for-sale housing in the Seattle metro, Magma Equities has completed its multimillion-dollar condominium conversion of a 52-residence community in Kirkland, WA.
Dylan Simon's insight:

Designed to meet an increasing demand for entry-level, for-sale housing in the Seattle metro, Magma Equities has completed its multimillion-dollar condominium conversion of a 52-residence community in Kirkland, WA.

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Co-Living Companies Attract Investor Dollars

Co-Living Companies Attract Investor Dollars | Dylan Simon -- Colliers International | Scoop.it
Co-living properties in cities with high housing costs are getting increasing attention from investors
Dylan Simon's insight:

As co-living properties prove successful in gateway markets, they are attracting more investor money.

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CRE’s Tailwinds and Headwinds for 2019

CRE’s Tailwinds and Headwinds for 2019 | Dylan Simon -- Colliers International | Scoop.it
Gregg Gerken, head of Commercial Real Estate for TD Bank, explains how current economic and demographic trends are shaping investment and finance in the industry's four main asset classes.
Dylan Simon's insight:

"Whether as a result of wage- and job-growth patterns, the changing priorities among a new generation of households or some combination of those variables, there continues to be opportunity for investors in the multifamily market."

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Seattle Metro Report: March 2019

Seattle Metro Report: March 2019 | Dylan Simon -- Colliers International | Scoop.it
Check out Zumper’s latest Seattle Metro Rent Report for March 2019 to see the most and least expensive cities and cities with the fastest growing rents.
Dylan Simon's insight:

Tacoma, WA had the fastest growing rent since this time last year, up 15.7%

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