Like the rest of the commercial real estate community, the net lease sector experienced a grim second quarter. Unlike the rest of the industry, though, net lease appears set to have a robust second half. That is the consensus of the panelists at GlobeSt.'s Net Lease virtual conference, held Thursday.
"Things have come back since the pandemic started," Barclay Jones, EVP for iStar, told listeners. "I think Q3 will be a strong quarter." Part of what shut the firm down those early, he added, were the bottlenecks that immediately sprang up as the world retreated to their homes in the Spring. Those have been largely resolved, he said.
Of course it was more than just Gerry-rigged closing processes that kept deals at bay during those days. Gino Sabatini, head of Investments for W.P. Carey said the REIT did very little volume in Q2 and instead took a wait-and-see approach to the market.
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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.
