Reactions to RealShare 2013
Overall this year's RealShare was a positive experience with high attendence and a vibrant atmosphere. Here are some takeaways:†
- Attendance strong, attendees optimistic.
- Nearly unanimous consensus that there is more capital than ever before for net lease investments.
- Cap rate expectations steady or declining -†yields for net leases are still attractive versus alternative investments.
- Spreads on Net Lease debt expected to compress further.
- Office/Industrial are seeing most opportunity in secondary and tertiary markets.
- Price PSF a critical underwriting factor for some while others are focused on underwriting long term credit.
- Lack of quality NNN retail product constant complaint.
- Still a pricing gap between core and other locations.
- There will probably be more interest in non core product this year.
- Due to their dividend yield constraints, public REIT's more competitive with private buyers and private REIT's in industrial and office sectors.
- CMBS originations continue to be strong.
- No concern about significant interest rate increase for the next couple of years.
- Industrial build to suit deals more prevalent than traditional sale-leaseback transactions.
Join us at Convene in NYC where we will be covering the entire national net lease, sales leaseback and 1031 exchange market across the property type. RealShare Net Lease attracts over 400 commercial real estate professionals across the sector for networking and panelist discussions including Net Lease Insider columnist and Calkain President and CEO Jonathan Hipp at RealShare NET LEASE on April 1.