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March 3, 2011
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| Just a few more words from Piedmont Realty's Don Miller from the nation's capital Tuesday, pictured here between Ackman-Ziff'sSimon Ziff and "Queen of Retail" Faith Hope Consolo during the national panel discussion at Bisnow's Washington Real Estate Summit. Last year, Piedmont issued an IPO that was priced under what the company hoped to get, Don says (it debuted at$14.50/share when it hoped to fetch $16 to $18, according to media at the time). But the results were a pleasant surprise as the stock had room to rise and ultimately did well, he says (on Tuesday, Piedmont's stock was nearly $20/share), and the REIT now has the ability to access "very favorable credit.? Dune Capital's Dan Neidich says he agonized over a dozen different things, but one of his big regrets was not pursuing more property in 2010. | |
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| At the event, we ran into Wood Partners' Leonard Wood Jr. He tells us the company is underway with a project called Alta Glenridge Springs, a 168-unit upscale apartment community in Sandy Springs. Leonard says the Atlanta market's lagging fundamentals make one factor hugely important for successful multifamily communities: location. Wood Partners expects 5% rent growth in Atlanta this year (with concessions at 1.5 months free) with rent growth also at 5% in 2012. | |
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| Amidst the rows of townhome-like structures on M Street is our humble HQ (the three-story sliver with Bisnow blue trim). This was the first time your Atlanta reporter got to gawk at not only our efficient and (almost) never boring operation, but also DC in general. | |
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| Our national real estate editor insisted that our Atlanta reporterJarred Schenke hang outside the third floor window overlooking the busy streets for a pic. (We hope she just liked the view.) Bisnownews staff from Houston, Dallas, and Atlanta gathered at HQ to plan its in-depth coverage of Bisnow's Washington Real Estate Summiton Tuesday, which had an audience of 1,300, a record for us. | |
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| Here we have Bisnow Houston reporter Catie Brubaker, national real estate editor Sibley Fleming, and Dallas reporter Tonie Auerstanding before the entryway into Bisneyland. It's complete with thevibe that you only thought they had at Facebook and Google. |
