WHO ELSE WILL BE THERE?
TriMont Real Estate Advisors managing director John Charles, another headliner at our Capital Markets event, tells us his workout team has never been busier, which unfortunately isn't a referendum on the flow of assets. ?We thought that more would have moved through the pipeline by this point.? He says his firm is taking a ?time is on your side? approach, as government doesn?t force action and banks continue to bolster their bottom lines. John tells us there's one big trend that's been especially strong in the past six months:tranche warfare. John compares it to a defense attorney throwing every argument he can to defend a known criminal. ?People don't want to take the loss—they're fighting in any way they can.? | |
Our event sponsor, HITT Contracting Atlanta SVP Ryan Bixler, tells us if there's a silver lining to the inability of developers to fund ground-up projects, it's that companies are hiring HITT?s Interiors Division to improve existing space and implement new work place strategies. Some developers also may offer larger TIs in order to drive up property value. On the flip side, ?financing is very strict right now, so dollars that can be lent are leveraged as far across the board as possible.? What it all means: Credit needs to loosen to spur development, but government needs to create incentives for banks to lend money to small businesses. | |
Being a tax and financial planner has its ups and downs, and event sponsor Frazier & Deeter founding partner David Deeter tells us it's been a trying down-cycle the past few years for many of his company's clients. ?There have been a few tears? as people?s net worth has evaporated, he says. A couple of things that bode well for the future: a mindset of paying down debt (instead of spending and stimulating the current economy) and banks are holding onto distressed assets. ?It's still a slow bleed? to the bottom of the market. On an upbeat note, the multifamily market is starting to pick up and cap rates are starting to go down, but financing remains ?choppy.? More from David at the event tomorrow (Last chance to sign up!) | |