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CoStar News Scoop: Chicago Hedge Fund Behind Huge BeltLine Project

APRIL 26, 2018|TONY WILBERT CoStar News

 

Chicago Hedge Fund Backs New City's BeltLine Plans

Andy Bluhm's Delaware Street Capital Identified as Owner of Former Georgia Power Site

CoStar News Scoop: Savannah Firm to Build Element in Downtown Atlanta

Savannah Firm to Develop Element Hotel Near College Football Hall of Fame

Hos. Management Buys Site at Marietta and Mills Streets for 157-Key Hotel

For full story, click here.

CoStar News Scoop: Boston Properties Bests Rivals With $616 Million Winning Bid for Santa Monica Business Park

Boston Properties Bests Rivals With $616 Million Winning Bid for Santa Monica Business Park

Deal would be one of the largest-ever office sales in Los Angeles County history.

Click here for the full scoop from CoStar News Los Angeles market reporter Jacquelyn Ryan.

BREAKING: Developer Plans Atlanta's 1st 'Airbnb Hotel'

By Tony Wilbert, CoStar News (For full story on CoStar.com, click here.)

Airbnb's expansion into the hotel business has prompted plans for Atlanta's first boutique lodging geared solely toward travelers who book short stays online.


RCC, LLC of Atlanta has filed plans to develop a nine-story, boutique hotel with 98-110 keys in Atlanta's Old Fourth Ward. The hotel would be designed specifically to attract Airbnb users. RCC's representative John Schiavone heads Catholic Construction Services, and as such, is the director of real estate for the Roman Catholic Archdiocese of Atlanta. It is unclear exactly what role the Catholic Church would play in the planned development.

For full story on CoStar.com, click here.

Does Jeff Bezos Love D.C. or What?

Enough said.

Post Proxy Flight Merely "A Point in Time," Former CEO Says

David Stockert, who replaced John Williams as CEO of Post Properties, could have held a grudge against Williams for trying to oust Stockert shortly after he took the reins of the multifamily REIT. But Stockert did not, and he continues to acknowledge the transformational role Williams played in the national apartment market. Williams, was was CEO of Preferred Apartment Communities, died suddenly on April 16, 2018.

Read the story here; from +CoStar Group.

 

Preferred Apartments Pays $60.9 Million for Tucker Asset

By Tony Wilbert, CoStar News - Click here to read full story.

The first-quarter numbers are in, and Decatur's dominance of multifamily sales continues in 2018.

Preferred Apartment Communities (PAC) paid $60.9 million, or $196,465 per unit, for the 310-unit Green Park Apts. at 2037 Weems Road. The seller was 360 Residential, an Atlanta multifamily developer founded by Jeff Warshaw and Clark Butler.

BREAKING: @Urvaksh Karkaria Bolts Business Journal

Atlanta Business Chronicle just lost its top reporter. Urvaksh Karkaria, who broke several major stories in the past year - including news of Facebook's plans to build a huge data center in Atlanta's exurbs, quit yesterday.

He starts later this month as the Atlanta correspondent for Automotive News.

For more details, read this story from TalkingBizNews.

 

 

 

 

Industrial Real Estate CEO: 1st Round of Tariffs Impact "Minimal"

Larry Callahan, CEO, Pattillo Industrial Real Estate

A team of CoStar News reporters, led by Jacquelyn Ryan in Los Angeles, takes a look at the potential impact of President Trump's new tariffs on Chinese imports on America's booming industrial real estate market. The story starts and ends with commentary from Atlanta's own Larry Callahan, CEO of Pattillo Industrial Real Estate.

Click here to read the story.

COSCO Development (under Hong Kong flag) Passes Savannah's Historic District on way to Georgia Ports Garden City Terminal - May 2017

Right now, Callahan is not too worried about the impact of President Donald Trump’s posturing on trade.

"I do not believe that the first impact of tariffs (and retaliatory tariffs) has been fully priced into assets like industrial real estate," he said. "And I would argue that the impact of a first round of tariffs on the pricing of industrial real estate is minimal."

 

CoStar Group Appoints Dan Beyers Executive Editor of Growing International News Operation

WASHINGTON, April 5, 2018 /PRNewswire/ -- CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, today announced that Dan Beyers has joined the Company as Executive Editor and Vice President.  An excellent business journalist and longtime news editor for The Washington Post, Beyers will oversee CoStar's global news operation, which spans offices in the United States, Canada, United Kingdom and Germany and includes more than 40 journalists.

(PRNewsfoto/CoStar Group, Inc.)...

"Dan has tremendous experience and will be leading our effort to build a world-class news organization and establish CoStar as the industry's most-read and most-respected source for commercial real estate news," said Andrew Florance, CoStar Group Founder and Chief Executive Officer.  "He has been a veteran news presence at The Washington Post, having served in a number of reporting and editing capacities at the newspaper where he earned a reputation for taking on challenges facing the print-based industry and helping it transition to the digital age, while upholding the highest journalistic standards."

While at The Washington Post, Beyers served as founding editor of Capital Business, a subscription-based publication launched by The Post in 2010 to sharpen its focus on the region's business community. He spun off new online verticals from that coverage to expand The Post's digital presence, and launched Top Workplaces, an annual publication and live event aimed at the metropolitan area's top employers. As a reporter and editor, he helmed beats including technology, government, education, local business and national industries.

Beyers' appointment is a significant milestone in CoStar's expansion of its award-winning news team, which added more than a dozen experienced business journalists located across the U.S. and in key international locations in the past year. The growing team allows CoStar to better tailor coverage for its readers, offering even greater insights into the markets and issues that matter to them. The expansion is part of a major initiative to enhance the company's role as the industry's leading source of commercial real estate information and data, building on its already established reputation as a trusted, insightful news resource for commercial real estate. 

Beyers will be based in CoStar's corporate headquarters in Washington, DC and report to Lisa Ruggles, Senior Vice President of Global Research.

About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with over 5 million monthly unique visitors per month. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties.  CoStar Group's websites attracted an average of approximately 34 million unique monthly visitors in aggregate throughout 2017. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,700 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that the company's expansion of its news team does not produce the expected results, including better tailored coverage, greater insights and establishing CoStar as the industry's most-read and most-respected source for commercial real estate news.  More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2017, which is filed with the SEC, including in the "Risk Factors" section of that filing, as well as CoStar's other filings with the SEC available at the SEC's website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE CoStar Group, Inc.

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