GlobeSt.com: Will that change in 2017?

Westfield: I don't foresee any major fluctuations from 2016. The variables are interest rates and the general election cycle.

However, these streaming variables tend to influence the single-family home sector greater than the commercial and multifamily sector. The multifamily sector will continue to perform strongly.

One concern I have is that major core markets are seeing cap rates depressed due to high valuations, high rents, and international capital. In turn, this is pushing investors to alternative markets.

GlobeSt.com: What factors do you see influencing investor strategies?

Westfield: Asset availability, lending guidelines and/or flexibility, and global markets will likely be the largest and most influential factors. Sellers are finding that the current cycle provides an opportunity to release an asset at a strong capital gain.

However, recycling that capital into another property is becoming a challenge within respective core markets. This could alter investment models and push investors of one sector (multifamily, etc.) into another (office, etc).

ATLANTA—2016 was a strong year in commercial real estate and 2017 seems to be off to a good start. But where do we go from here?

GlobeSt.com caught up with Kurt M. Westfield, director of investment at WC Companies, to get his thoughts on where we've been and where we go from here in part one of this exclusive interview. Be sure to stay tuned for part two, in which he will discuss his predictions for the lending environment.

GlobeSt.com: How would you define 2016 from an investor's perspective?

Westfield: 2016 was an excellent year in the commercial real estate sector. Across all formats, especially multifamily, values increased, capital was deployed, and market opportunities started to tighten due to the increased exposure of low rates and large buyer pools. The commercial real estate industry continues to flourish in a global market mixed with uncertainty.

GlobeSt.com: Will that change in 2017?

Westfield: I don't foresee any major fluctuations from 2016. The variables are interest rates and the general election cycle.

However, these streaming variables tend to influence the single-family home sector greater than the commercial and multifamily sector. The multifamily sector will continue to perform strongly.

One concern I have is that major core markets are seeing cap rates depressed due to high valuations, high rents, and international capital. In turn, this is pushing investors to alternative markets.

GlobeSt.com: What factors do you see influencing investor strategies?

Westfield: Asset availability, lending guidelines and/or flexibility, and global markets will likely be the largest and most influential factors. Sellers are finding that the current cycle provides an opportunity to release an asset at a strong capital gain.

However, recycling that capital into another property is becoming a challenge within respective core markets. This could alter investment models and push investors of one sector (multifamily, etc.) into another (office, etc).