Yet another sign the economy is recovering

Even though this investment news doesn’t directly impact Portland multifamily real estate I’ve included it because it speaks to the general improvement beginning in the overall economy.  I’ve personally seen a huge surge in interest in Vancouver apartments in the last month.  

 From: Retail Traffic Apr 13, 2010 10:59 AM  

Bed, Bath & Beyond’s announcement last weekthat it plans to open 60 new stores in fiscal 2010 highlighted a change in attitude that’s slowly taking place among national retail chains. While most national retailers spent 2009 trying not to drown, a brighter outlook for U.S. economy and better pricing on available space has led to an increase in expansion announcements in 2010.   

Meanwhile, children’s apparel seller Gymboree has doubled the number of stores planned for its new off-shoot Crazy 8 up to 100 from previously announced 50. And Urban Outfitters Inc. decided to launch a new concept next year that will focus on the always popular bridal market.  This year, leasing activity might rise 5 percent year-over-year, according to some experts. But the growth will be concentrated among a few key sectors, including discount stores, furniture sellers and fast-food operators.  (more…)

REIT Investing Skyrockets

Sam Zell’s Equity Residential has invested over half a billion dollars recently in portfolio additions…but they are also upgrading a number of their units and repositioning others.  These are irrefutable signs that they see enhanced rents around the corner.  For those of you who don’t know who Sam Zell is…he’s so rich that when Trump stands next to him…the Donald looks like just another guy having a bad hair day life.

My suggestion:  Read the article, then contact us to start acquiring additional multifamily assets for your portfolio! 503.577.1034

Apartment REITs Go On The Offensive

By Brad Berton, 03.16.10, 11:24 AM EDT

Equity Residential signals recovery with pace-setting deals.

How do some of the smartest real estate outfits begin buying and building again after a major economic collapse? Suddenly.

Adding to its recent $475 million purchase of apartment high-rise properties from the troubled Macklowe family, Equity Residential ( EQR – news - people ) has paid $45 million for an apartment complex rental community a mile from the beach in tony Del Mar, Calif., Forbes has learned. San Diego County real estate records of the deal, which closed Jan. 12, indicate the seller was DMG Associates, a company headed by developer Stuart R. Posnock. The complex, called Del Mar Ridge, includes 181 apartments built in the 1990s.

The Chicago-based apartment giant, headed by billionaire Samuel Zell, hasn’t disclosed the purchase price of this deal in SEC filings. For a company with an $11 billion stock market value, that’s not surprising. But at nearly $250,000 per apartment, Equity Residential’s deal in Del Mar is a significant outlay. (more…)