SAN FRANCISCO-The spigot really got turned on Q4 last year said panelists at the recent the ULI Real Estate Finance and Investment 2013 conference here. “The momentum on the acquisition side has picked up steam and now everything that is for sale has many quality bidders,” explained panelist Charles Malet, chief investment officer of Shorenstein Properties
Many of those bidders, according to Malet, are REITs, but the money sources are coming from all over the world, he said. “REITs for us haven't really created more competition. They have grown over time and will continue to grow.”
There will always have tough competition from somewhere, whether it is REITs or a variety of other sources, added panelist Donald Wise, president and CEO of Metzler Real Estate, who recently did an in-depth Q&A on the subject. Wise noted that “It doesn't matter who the competition is…You don't want to be stupid, but you want to be the most determined and most equipped and if you do that well, you will serve your clients well.”
Other articles from the ULI event are as follows:
Real Estate, No Longer a Dirty Word
Panelists: More Income-Based Returns in 2014
Expanding Beyond Traditional Markets
Millennials Seek Apartments, Not Homes
Investors Seek New Ways to Place Capital
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