Commercial Real Estate Leaders Converge at Connect Texas Multifamily 2022
When it comes to commercial real estate, it’s good to be in Texas. That was the overarching theme throughout the day of the Dallas conference, which featured six panel discussion with various Texas-based commercial real estate professionals.
While the economic climate for multifamily development in much of the country is tepid due to rising interest rates, supply chain issues and high inflation, a number of panelists said Texas has weathered the storm.
Chris Finlay from Lloyd Jones LLC spoke about the challenging financial market, “It’s pretty mild. There is very little over-leveraged debt…we’re in pretty good shape…I don’t see any distress.”
Jay Porterfield from PGIM Real Estate gave his assessment, “This cycle feels so different. We should be in decline but we haven’t had that shock effect.”
And Sandra Taylor from SL Taylor Investments said, “Texas is insulated from the macro-economy because of migration into the state. We don’t have coastal prices, we have lots of land and an entitlement process that is relatively faster than most states.”
All the speakers and panelists reiterated the point that, as long as people keep coming and demand for housing stays strong, Texas will not suffer a jarring downward cycle.
Over the next two days we’ll feature the explosive Build-For-Rent industry and the following day we’ll hear from one of the leaders in the 3rd party debt broker world.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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