With many commercial real estate sectors struggling because of the pandemic, investors are zeroing on a few specific places—apartments and industrial.
"The capital hasn't gone anywhere," Chris Niederpruem, managing director, group head, Real Estate Finance, CIT Group said on a panel discussion during GlobeSt. Apartments Spring 2021 virtual conference held this week. "We're probably at pre-COVID pricing levels in terms of those asset classes today."
Housing is popular because it has generally held up during the pandemic. In fact, in some areas, it has flourished. That has attracted a lot of investors. Brendan Coleman, senior managing director, Walker & Dunlop, said his company sees at least 30 bidders for deals that come to market.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
