Sherman said, since the pandemic, he's been looking to buy office properties, a sector where he hasn't seen many active buyers, given the questions over remote and hybrid work's long-term impact.
South Florida is somewhat of an anomaly, as companies continue to relocate there, Sherman said, fueling demand for office space. But in other places, the outlook is cloudier.The level and depth of distress in any property type is impossible to ascertain. But most market observers aren't predicting a repeat of the global financial crisis fallout for commercial real estate in the late 2000s.
, CEO of Bethesda, Maryland-based real estate consulting company RCLCO LLC, said in the past month or two, it's become a more commonly held view there will be distress. For example, in the multifamily market, which has been on fire during the pandemic, deals that closed at high values and low capitalization rates won't necessarily see distress but are pricing so differently now than they did less than a year ago. It's become more difficult to refinance or get construction financing, Ducker added, which may present opportunities.
But Thomas said he remains bullish on suburban office's future — given demographic shifts to the suburbs and an increasing unwillingness to commute long distances multiple days a week — and is looking for opportunities.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DallasBizNews - 🏆 525. / 51 Read more »