News
PUT YOUR MONEY . . .
September 27, 2011
| If you like DC and you want to do what we're implying with our headline, you'll want to join us and our all-star cast of top execs for a look behind the scenes of debt and equity at our DC Investment Summit tomorrow. (Register here!) |
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| One sector bathing in capital these days, of course, is multifamily. Federal Capital Partners managing partner Esko Korhonen (a featured panelist tomorrow) says his firm has already committed over $350M in its primary markets (DC, Philly, North Carolina, and Tidewater) this year. It's concerned with anemic fundamentals in the office sector (that's why it's overweighted in multifamily) but it's still in the market for appropriately priced commercial investments. Office income is "lumpy" due to the higher cost of re-tenanting users, he says. (That must be why our mattresses feel that way... re-tenanting.) |
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| First Potomac co-founder Nick Smith tells us his firm will likely keep its powder dry in the near term after aggressively chasing office assets since '09, with $900M in acquisitions to show for the effort. He says the Washington office investment sales scene has cooled since early summer. (Somebody tell the sun that because it's still way too hot for late September.) International and national firms just aren't sure where real estate investment is going in the face of a double-dip recession and lagging economic indicators worldwide, Nick says, and savvy investors may be waiting for prices to drop. |
