• The ABCs of NMHC

    This past week, the National Multifamily Housing Council (NMHC) held its 2019 Annual Meeting in San Diego, CA. Considered the “Super Bowl” of networking for the apartment industry, this event draws thousands of apartment owners, investors, developers, lenders, brokers, and other industry professionals. Beyond the keynotes, panel discussions, and educational sessions, the real meat and

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  • Get the Cycle Right

    Humans (and, for that matter, computers programmed by humans) are horrible at predicting the future. When it comes to underwriting and valuing commercial real estate, we tend to overestimate upturns (expansion cycles) and, while we are in them, overestimate downturns (contraction cycles). How can we better underwrite apartment buildings over hold periods? When human intervention

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  • Built to Last

    As we enter into 2019, we do so with much uncertainty in a variety of markets – to name a few: political, economic, social, and capital. In the Seattle region, despite national or global headwinds / concerns, we’ve benefited from a near-endless stream of “good news” for almost the entire decade. The Great Recession is

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  • Five Themes for 2019

    It’s December and time to take stock of 2018 – another year that came and went in a flash. This past year was notably one of highs and lows, and in the apartment market, as of late, we are not used to hearing of lows. Seattle was named the nation’s fastest growing tech hub, yet,

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  • 3 Important Headlines

    There is simply so, so much noise in any given marketplace – especially those involving financial markets. Given the quantum of information available for consumption, we’ve trained ourselves to skim headlines, and from there glean conclusions – often to our detriment (or at least to the detriment of an objectively, predictably accurate conclusion). For example,

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  • PRESS RELEASE: John Winthrop Apartments in Seattle’s First Hill Neighborhood Sells for $18.2 Million

    October 30, 2018, Seattle, WA – Dylan Simon and Jerrid Anderson of Colliers International’s Seattle Multifamily Team closed the sale of The John Winthrop Apartments in Seattle’s First Hill neighborhood on Monday, October 29, 2018. The sales price of the apartment building was $18,220,000, equating to $230,633 per unit and approximately $425 per net rentable square

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  • New Ballgame

    We all generally read the same headlines – “The Market is Booming” and “Rents Are Skyrocketing” – almost immediately followed by, “The Sky is Falling” and “Rents are Plummeting”. In a truly rational world, little of what journalists (most of whom are inexperienced in any aspect of investing and/or economic analysis) write would matter. Yet,

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  • 2018 Fall Investor Forum Recap

    We can’t lie—we’re still feeling the pain of Dupre and Scott closing shop earlier this year, especially now that market dynamics are starting to shift and there isn’t data readily available to clarify exactly what is happening (beyond the dramatic headlines popping up everywhere). To answer that resounding question, we decided to use our annual

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