WASHINGTON, DC-This is the textbook version of how a commercial real estate transaction gets done: Buyer meets seller, via a broker. Buyer and seller are likely to be either 1) REITs, 2) institutional investors, or 3) savvy private equity fund. Various advisers descend to make sure each party gets what it wants from the transaction. Everyone goes home happy.
To be sure, many transactions do follow that particular story line, but the audience at a panel held at NAIOP's conference, Development '12, this week, "Attracting Capital Outside of Major Markets," did not hear of many. Instead, they heard of such tactics as melding broken toilet parts into parking lot materials to saving on remediation costs, cold calling corporates directly to see if they had real estate to sell, and closing on transactions in the worst of the worst markets—i.e. Arizona.
If all this sounds little outr
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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.
