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Damac Properties submitted the only bid for the 1.8-acre oceanfront property, where it plans to build a luxury residential tower.
Asset manager will move into City National Plaza, reduce its footprint by 22%.
The usual suspects, such as New York City, Los Angeles and Dallas/Ft. Worth, are leading the way.
Opportunistic and value-add strategies continue to be the focus for funds targeting multifamily investment.
Deal flow could moderate if banks become more conservative or if buyers demand higher yields.
The scarcity of single-family rentals should propel the sector forward.
The new finance project is a mixed-use building in Seattle.
Costs are up multiple times as deals go out the window.
"Approximately 20%-25% of a project goes to food and play. We don't see that number going back at all."
Suburbanization, consumer proximity, medtail and open-air retail top Phillips Edison's list.