Often I ask investors why they choose apartments as their product type of choice in commercial real estate. The answers vary far and wide from “that’s what I understand” to “I inherited these apartments and never sold”. Few investors have actually compared multifamily units against other product types.

Those professional investors that made such side by [...]

From time to time, commercial agents ask me if the time to invest in becoming a CCIM member and working toward the CCIM designation is really worth it. To which I say a resounding YES! The value of involvement in CCIM is immeasurable. CCIM is not only the most coveted and respected name in commercial [...]

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Digested From “Law Stops Smoking”
San Mateo Daily Journal (09/15/08) by Dana Yates

Last November, the Belmont City Council in California passed a law prohibiting smoking in apartments and condominiums and on their patio and yard areas. The far-reaching law gave apartment owners and condominium complexes 14 months to come [...]

Property owners take note! The Virginia Graeme Baker Pool and Spa Safety Act that was signed into law last December 2007 has a deadline of Dec. 19, 2008 to have your drains in compliance. This law requires each swimming pool or spa drain cover manufactured, distributed, or entered into commerce in the United States to [...]

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UNITS magazine reported a study on which California markets are a smart choice for Renters. Based on the premise that house pricing is still widely disproportionate to rents, the following areas are better for renters and thus apartment owners:
1. San Jose-Sunnyvale-Santa Clara (no surprise!)
2. San Francisco-Oakland- Fremont
3. Los Angeles-Long [...]

This year’s theme was the Treasures of the Carribean-  For a complete list of categories and award recipients, please click this link.  It was a fun night had by all!  Already looking forward to next year’s theme “Putting on the Ritz” !

Recently,
I learned about two off market Hotels for Sale, the first is in a major tourist city in Florida and the highlights are:

Asking Price: $19M, $140,741/key, $160/sq ft, Cap Rate 9.64% on Jan thru Jun 2008 Annualized numbers, with a 5% reserve.
135 suites, Built: 1999 on 0.92 acres.

Numerous documents available for review-

The second [...]

At the South Bay Apartment brokers meeting today the attendance was half of what is typical. I hope they are on vacation.  My comments to the group included that Contra Costa county has an average of 60 properties (16+unit multifamily) for sale on any given month.  Today, I reported that there were 116- almost double!  [...]

I had the opportunity to meet with Susan Nichols  ( Susan.Nichol@cpconsultant.com ) who is a representative for Commercial Property Consultants (CPC), a cost segregation firm based in Phoenix, AZ.   So what is cost segregation and how does it make you money?
Cost segregation may help owners of commercial real estate save significantly on their federal income [...]

In a recent CCIM marketing meeting, I presented the Commercial MasterMinds standard for marketing packages for commercial properties. The content of our marketing packages has been developed as a result of my experience and interviews with investors, both private and institutional, as well as lenders and other key folks. I received such a great response [...]

The EBEDA reported on the July numbers. While the report is not optomistic, it is important to note this is a normal part of the economic cycle. The highlights of the report:

* Unemployment increased, rising to 6.7 percent from 6.2 in June
* Professional & business services lost 300 jobs between June and July, far [...]

What a great gathering of Industry professionals and Titans of Industry!
Over 700 people in attendance- all for the purpose of helping those who need help in securing housing.
FYI: The Housing Industry Foundation (HIF) is a non profit charity supported by the apartment, real estate and building industries.  To learn more about HIF please visit www.HIFinfo.org