CRE Leaders Expect Investment Sales Slowdown to Lift Later in 2023 (VIDEO)
Industry leaders across the finance and services spectrum of commercial real estate are in agreement on one thing: the likelihood of a near-term uptick in transaction volume for investment sales is pretty low at the moment. That was the consensus among leaders interviewed by Connect CRE at the National Multifamily Housing Council’s (NMHC) recent Annual Meeting in Las Vegas.
“We’re almost through Q1 and it’s been pretty slow, similar to Q4 of last year,” Lument CEO James P. (Jim) Flynn told Connect CRE. “So I don’t expect it to pick up here. Modest in the second quarter as people start to look at deals but I do expect to see some pickup in transaction volume in Q3 and Q4 of this year.”
In the video below, you’ll also hear insights from Marcus & Millichap CEO Hessam Nadji and Way Capital founder and senior managing partner Malcolm Davies. Nadji set the stage by pointing out that “the Fed’s aggressive moves delivered a shock to the real estate industry because of the successive interest rate increases coming so fast and in such a short period of time.”
Connect CRE will have more insights from NMHC’s 2023 Annual Meeting in the coming days.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).