Transactions Steal Show in RealShare Panel

DALLAS—“There's a lot of money coming to Dallas and they're looking for too few investment deals.”

That's how Jay Lucas, CCIM, senior director of Cushman & Wakefield of Texas, explained the state of real estate transactions in the area. Lucas was one of five panelists speaking at the third session, “Getting the Deals Done: Transactions Outlook” at RealShare Dallas on Tuesday.

Moderator John Barker, vice president investments/director national multi housing group at Marcus & Millichap, led the lively discussion that aimed to offer a snapshot look at this segment of the market.

Among the highlights, the participants spoke about how technology is continually changing the business.

“From a broker's perspective, being responsive to a tenant rep in real time is really powerful,” said Rhett Miller, regional director, southeast at VTS Inc.

Lucas spoke about GIS or geographic technologies are intrinsic, he said.

“You should buy land and build where people live. So if you know where people live, you'll [do well],” he concluded.

In smaller markets, “our big concern is adoption and the learning curve,” Gary Walker, managing principal at Coldwell Banker Commercial Alliance, said.

His firm relies and saves time with apps like Google Earth.

“Day to day, you want to be managed to 95 percent,” said Brian Sykes, senior vice president, originations, at Capital One Multifamily Finance. “Trying to manage to the optimal level, you can't do without technology.”

Offering the panel's resident lender-perspective, Steve Fried, principal with Mesa West Capital, offered another take.

“At the end of the day, real estate is a relationship-driven business and a very local business,” he said. “Technology helps but if you're not maintaining that contact, you're spinning your wheels.”

Finally, the panel offered their predictions for 2016. Multifamily will be huge, said Sykes, while Walker and others said the fundamentals will stay the course next year.