The cloud of rising interest rates, inflation and general economic gloom hanging over the country is causing havoc for people trying to do deals right now and is a rude awakening for some in the industry after years of cheap capital. Transactions have slowed, making it hard to determine property values, ACORE Capital Managing Director of Capital Markets and Syndications Brent Wagner said at Bisnow's Los Angeles State of the Market event at the Millennium Biltmore Hotel. 
Wagner recounted an investment committee call the morning of the event discussing a potential deal on the Westside of LA. “That appraisal is 2 months old,” Wagner said. "Well, it’s useless."“There are no comps taking place,” he said, which made it more difficult to figure out how much they should be paying.Additionally, several panelists said banks…  Read the full story here. | 
