“Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are even incapable of forming such opinions.”
-Albert Einstein
SEPTEMBER 16, 2013.
IN THIS WEEK’S ISSUE:
As Housing Rebound Helps More Retirees Sell Homes, Investors Prep for Increased Demand for Senior Housing …………………… 1
Institutional Players Jockeying To Lead Single-Family Rentals…………………………………………………………………………………………… 4
Flush With Cash and Making Deals, Investors from South Korea, Norway Targeting U.S. Real Estate ……………………………………. 6
Blackstone Taking Hilton Worldwide Public ……………………………………………………………………………………………………………………… 9
Hines Forming Third Public REIT, Seeking to Raise $2.5 Billion …………………………………………………………………………………………. 9
Kilroy Realty Raising $250 Mil.; Looks To Dispose of $450 Mil. in Assets ………………………………………………………………………….. 10
Steadfast REIT Passes $1 Billion in Assets; Forms a New Apartment REIT……………………………………………………………………….. 10
Kennedy-Wilson Funding a $450 Mil. Pipeline ……………………………………………………………………………………………………………….. 10
Summit Hotel Tidying Up Finances To Make a Run at $165 Mil. More in Properties ……………………………………………………………. 11
Capital Markets Report: HFF Arranges $580M Refi for Las Vegas‟ Miracle Mile Shops ……………………………………………………….. 11
Capital Markets Round-Up ………………………………………………………………………………………………………………………………………….. 12
Furniture Brands Files for Chapter 11; To Close 32 Facilities …………………………………………………………………………………………… 12
Tesco Selling Fresh & Easy to Yucaipa; 50 Stores To Close ……………………………………………………………………………………………. 14
Facility Closures & Downsizings …………………………………………………………………………………………………………………………………… 14
Forest City, QIC Complete Mall Joint Ventures ………………………………………………………………………………………………………………. 15
Google Signs Lease for Former Mayfield Mall ………………………………………………………………………………………………………………… 15
As Housing Rebound Helps More Retirees Sell Homes, Investors Prep for Increased Demand for Senior Housing
Relatively Affordable Senior Unit Prices Attracting Buyers, REITs Allocating More Funds for Property Acquisitions
Senior housing investment sales, which have been slowly creeping up this year, could see a big boost in activity in the near future. Investors in the sector see senior living assets continuing to benefit from the ongoing recovery in housing, which is making it easier for older owners to sell their homes in anticipation of moving to a senior housing facility.
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.
Sales volume of senior multifamily housing properties, including assisted living and congregate care facilities, in the first half of this year is ahead of volume in the first half of last year – $1.59 billion vs. $1.18 billion, according to CoStar COMPs records.
However, per unit sales prices have been trending down since peaking in the third quarter of 2011 from about $88,000/unit to $58,000, according to CoStar COMPs.
HCN LEADING THE CHARGE
One of the biggest players in the market, Health Care REIT Inc. (NYSE:HCN), completed the $745.2 million final phase of the Sunrise Senior Living property portfolio acquisition this past summer. The REIT‟s aggregate $4.3 billion investment in Sunrise Senior Living includes 120 wholly-owned properties and five properties owned in joint ventures with third parties.
Read more:
a little about me and my expertise – video
LAND SPECIALIST – LAND EXPERT – INVESTMENT BROKER – ARIZONA
https://www.youtube.com/watch?v=PPs3kpKR4nY
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell) 602-778-5110 (office direct).
Thank You
Walter
Walter Unger CCIM
Associate Broker
Kasten Long Commercial
2821 E. Camelback Road, Suite 600
Phoenix, AZ 85016
Cell: 520-975-5207
Direct: 602-759-1202
Office : 602-445-4141
Fax: 602-445-4188
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