Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
SIOR Chicago Presents Panel on State of the Capital Markets
More than 60 members and guests attended the Chicago Chapter of The Society of Industrial and Office Realtors’ (SIOR) fall Speaker Series luncheon at Gibsons Restaurant in Rosemont, IL. Ryan Moen, SIOR, principal and co-founder of Versa Real Estate Services, moderated a panel discussion featuring Krista Casper, SVP at Associated Bank; Michael Tenteris, executive managing director at Cushman & Wakefield; and James Postweiler, executive managing director at Newmark. The discussion focused on the state of the capital markets in commercial real estate.
Key takeaways included the following:
- Interest rates have taken a toll on underwriting in all asset classes
- Multiple banking relationships have never been more important, as many non-traditional lending sources have evaporated and the CMBS market is frozen
- Most active buyers today are all-cash or low levered
- The large transaction market is non-existent
- Re-trading deals has been common this year, typically 10-30%
- Auction sites are seeing some success with the rapid speed of execution.
Pictured, from left: Ryan Moen with capital markets panelists Michael Tenteris and James Postweiler.
- ◦Financing
