Compared to 2023, senior managing director Eric Enloe at Partner Valuation Advisors sees commercial real estate transactions increasing. Although Enloe doesn’t expect much change in interest rates or the 10-year Treasury, “I see it’s stabilizing, and if it’s stabilizing you’re going to see more transaction activity.”
The increase in transaction activity will vary by sector, Enloe pointed out. Retail has been surprisingly strong, while in office, “you’re likely to see distress.”
Both Enloe and Steve Pumper, executive managing partner of Transwestern’s Capital Markets and Asset Strategies Group, believe that when all is said and done, 2023 will represent a falling-off in deal activity compared to 2022. “In the second half of the year, I expect it to be very similar to the first half,” when volume was down 60% on a year-over-year basis.
In the video below, you’ll get more insights from Enloe and Pumper, who went before Connect CRE’s cameras at the recent Connect Investment & Finance 2023 event.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).