With many commercial real estate sectors struggling because of the pandemic, investors are zeroing on a few specific places—apartments and industrial.
"The capital hasn't gone anywhere," Chris Niederpruem, managing director, group head, Real Estate Finance, CIT Group said on a panel discussion during GlobeSt. Apartments Spring 2021 virtual conference held this week. "We're probably at pre-COVID pricing levels in terms of those asset classes today."
Housing is popular because it has generally held up during the pandemic. In fact, in some areas, it has flourished. That has attracted a lot of investors. Brendan Coleman, senior managing director, Walker & Dunlop, said his company sees at least 30 bidders for deals that come to market.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
