Hines executive Colin Shepard speaks with GlobeSt.com's Alyson Grala about the office market during Real Estate 2010. Watch the full video on GlobeSt.TV.
A lot of buildings that had a significantly greater debt, Shepherd said, were not in a position where they could not replace debt when it came due.
Recently, for tremendous product, Shepherd said, "we have seen cap rates drop as low as 7 again," which he says is an indication that there is capital again. "There is capital on the sidelines that wants to get into the market and there are very few deals that are transacting. There are very few landlords that are willing to sell in this marketplace, which has oddly enough driven to the scarcity of product."
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