In general, he tells GlobeSt.com, the second half of the year is always busier. Also, he says, there are a lot of deals pending out of the public's eye at the moment. "Based on what we know is happening in the market and what we are tracking, I believe there will be a significant level of additional closings in the second half of the year."
HFF's DC office is on track to meet last year's $1.75 billion of investment sales transactions and $1.3 billion of debt transactions, he adds. "We are already approaching $1 billion in investment sales and over $1 billion in debt."
Conley acknowledges the DC market has become much more competitive, especially in the office space. "Pricing improved—-meaning they increased—between Jan 1 through June 30. At the same time we have seen cap rates go down slightly in 2006. Our instinct tells us there will continue to be significant velocity and pricing will be steady."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
