News
Developers Seek Sites
August 16, 2010
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| We snapped CBRE partner Paul Donahue (right) with PPR?s Hans Nordby at a recent NAIOP breakfast. Paul leads the multifamily investment sales division here and told us ?a substantial number of buyers are seeking to invest.? Values are indeed going up reflecting confidence in the Boston-area economy and the lack of new supply. For the first time in years, he says, no new product was delivered during Q2, since construction fell off starting in ?08. Further, although sources of equity capital and debt financing still aren't robust, they're returning. He says all the REITS would ?love? to acquire or develop at this point and many already identified likely sites and are discussing financing. ?We're confident new development can get started in Greater Boston in the next 12 months.? |
