LOS ANGELES—Real estate lending in its many forms is back, and the arena is more competitive than ever, said panelists at yesterday's RealShare National Investment & Finance conference here. Both domestic and international investors continue to seek a piece of the pie, driving pricing upward and making yields harder to find.
“There's no lack of interest from overseas in US properties,” said Rodney Richerson, regional president, Western US, for KBS Realty Advisors. “Pricing is being paid. It's competitive out there, and there's lots of money chasing deals.”
Stephen Corrigan, managing director of BlackRock, added that his firm—which focuses on the apartment space first, followed by industrial and retail—is looking beyond pure core markets for more yield. Regions like Northeast Texas and Western states other than California are some of the markets his firm is examining.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
