As we dove into 2015’s waters, investment capital stats were already at in influx. The US has traditionally been a favorite depository for said capital. With US Treasury Rates on a decline due to demand and the US Stock Exchange experiencing new elevations, commercial real estate is an attractive invitation for both foreign and domestic investors. The evidence of this is the growth of overall commercial property transactions in the US by foreign investors has now arrived at a level that we haven’t seen since 2006/2007. Firms aim a close eye at interest rates and market stability as they compare these current statistics with historical data. The timing for interest increases is concerning for most, and whether long term and short term rates will increase in a united or disjointed manner. A majority of soothsayers, (correction: forecasters), hold the belief that the Federal Reserve will raise rates Summer of 2015. Out of the estimated $5 trillion plus capital invested in the United States, over $3 trillion is debt-driven. Commercial real estate loans are steadily gaining as per the Feds, with private equities and REIT’s in the lead. There is speculation that we will see a “re-do” of 2006 where large sums will be reinvested into #cre in 2015 if all goes according to pattern. Is your brokerage positioned for these potential opportunities? Are you as an investor positioned to take advantage of this stimulative climate and seize the day?
Do you see what I see?
There is a gargantuan player in this game of whom some of us may be unaware. Recall the “Defined Contribution Real Estate Council”? It was originally created to assist sponsors/participants get better results via institutional quality properties. According to the Urban Land Institute, 2014 was monumental for US retirement assets achieving the 23 trillion mark. A good portion of those funds were in defined contribution or IRA funds.
As of first quarter 2014, it was reported that there were $6.6 trillion dollars in IRA funds and 6 trillion in defined contribution 401k’s. Our industry is being propositioned to produce improved selections for real estate investing. Institutional allocations can potentially mean billions of investment capital. Because liquidity is imperative to retirees, REIT’s may outshine direct investing options.
Urban Land Institute & PWC, “Emerging Trends in Real Estate – US and Canada 2015″
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The age of technology that is. The word “technology” can spur drastically different feelings in various sorts of people. Some hear it and cringe due to frustration or lack of confidence or understanding. Others thrive on it to the point of addiction. You know who you are, my commercial real estate professional friend. Regardless, technology keeps moving forward at light speed all around us.
Yes, all AROUND us…up until now. I have personally observed that commercial real estate and the construction industry as a whole have been very slow to embrace new technology. Now, the #CRE professionals are not solely to blame. No, on the contrary, state and federal regulations have also had a role in this as well. Instead of an engaging dance it has looked more like a tug-of-war session. By the way…who’s winning?
Moving on, this past year has been a watershed year for commercial real estate tech. LoopNet and CoStar have steadily moved into mobile applications and Docusign acquired Cartavi, creating a one-stop-shop for transaction management. REIWise deserves props for their Power Broker, Investment Analysis and Commercial Lease Analysis systems. The detail and capabilities are off the charts. Let’s not neglect to mention the social media bandwagon that the real estate industry as a whole finally jumped on…after it passed by us several times begging us to get on board with the rest of the planet.
The real movers and shakers of late are the venture capital companies, feverishly raising funds to implement their technology in the CRE industry. Notable mentions include 42 Floors, View The Space, Floored and Compstak. These guys are raising boku bucks and bringing innovative, diverse and desperately desired technology to the land of commercial real estate pros. An interesting observation is that most are a product of millenials, but the solutions are geared toward the up-and-coming GenY and their demand for automated fix.
The warm handshake hasn’t been laid to rest. It still has its place in the game. Communication and interaction is what we do. We are wired for it. We also are driven to achieve. We are motivated and ambitious. The bottom line is that enough people took notice of the big elephant in the room and decided to do something about it, correlating efficiencies with success, cutting-edge with closing deals. Buckle-up buttercup…more twists and turns ahead.