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In the evolving market, a recent survey reveals that investors are anticipating asset value declines in the coming year, due to the higher cost of capital, construction, and operations, as well as availability of product.
Pointing in the opposite direction from a year ago, the Federal Reserve has pushed its benchmark rate to 4.5% after starting 2022 near zero. This rapid change in the state of affairs has ground sales volume to a standstill and killed deals around the country. So what will happen in 2023 in CRE according to real estate professionals? It will be a lot of ups and downs and expect the unexpected.
In a lunchtime capital markets panel at the 2022 ULI Florida Meeting in Miami, top real estate investment leaders shared insights on investing in today’s uncertain environment and more specifically, in Florida.
The sale-leaseback market continued to shatter records in November despite declining M&A activity and rising interest rates.
The loan secures the 5-acre site at 3757 Coral Tree Circle. The dealer purchased the property for $5.1 million in 2020 and demolished an office building there. It was previously used by Waste Management.
South Florida and the rest of the Sunshine State are still appealing places for investors thanks to its rising population and openness toward business.
Small market and suburban office sales lately are holding up better than their urban counterparts for three reasons: they are smaller assets, they are better basis plays, and they are typically occupied by users who are more likely to have returned to work.
Half of the top 10 migration destinations are in the Sunshine State.
Cap rates could rise another 50 to 100 basis points. But according to one industry expert, the industrial sector should stay a favored asset class for experienced investors, despite rising capital costs.
Institutional investors are continuing to increase target allocations to real estate despite the first decline in confidence among the segment in five years.
Broker/President Ronald W. Osborne represents both buyers and sellers of commercial properties of all asset classes and types, focusing primarily on privately owned properties in South Florida, ranging in value from $1 to $10 million.
Sperry – RJ Realty
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954.381.0412
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admin@RJ-Realty.com