LOS ANGELES—We don't spend a lot of time thinking about it; we spend more time joking about it,” David Lapidus, managing director of acquisitions and development at Tishman Speyer, said at Allen Matkins' View From the Top conference about the upcoming election. The panelists discussed the election and the forecast for the upcoming year, including Devin Peterson, principal of real estate at the Blackstone Group; James Rodgers, EVP and head of acquisitions at KBS Capital Advisors; Kevin Shannon, president of West Coast capital markets at NGKF and moderator Tony Natsis of Allen Matkins.
After his quip, Lapidus admitted that there is some worry about Hillary Clinton not winning because of the unpredictability with Donald Trump. “If Hillary wins, there will be a lot less volatility,” he said, adding, “I don't think the election will make a difference.” Rodgers added that some people are increasing their allocations now and waiting to see what happens in the election.
The discussion turned to forecasts for 2017. This year there has been a bit of a slowdown, and Rodgers said that this might even be considered a downturn. It has started to plateau, but the fundamentals are really strong and the stock market is higher than it has ever been,” he added. “I think next year we are going to come back.”
Shannon had a positive outlook through 2018. “We have had a capital markets correction, but I don't see a recession,” said Shannon. “The debt markets are going to stay good, and people are looking harder at assets. I think this thing is going to turn around quickly. I am optimistic about 2017, and I think 2018 could be good too.” He said that the activity in markets like Seattle, where he is setting records, is a great example.
Shannon also had some advice. “There is still a lot of capital out there, but capital is ambivalent right now. It needs focus.”
Overall, all of the panelists were positive about 2017 and beyond, while Michael Van Konynenburg of Eastdil Secured gave an economic address where he said that Brexit could help drive economic growth here.
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in New York City. Learn more.
LOS ANGELES—We don't spend a lot of time thinking about it; we spend more time joking about it,” David Lapidus, managing director of acquisitions and development at Tishman Speyer, said at
After his quip, Lapidus admitted that there is some worry about Hillary Clinton not winning because of the unpredictability with Donald Trump. “If Hillary wins, there will be a lot less volatility,” he said, adding, “I don't think the election will make a difference.” Rodgers added that some people are increasing their allocations now and waiting to see what happens in the election.
The discussion turned to forecasts for 2017. This year there has been a bit of a slowdown, and Rodgers said that this might even be considered a downturn. It has started to plateau, but the fundamentals are really strong and the stock market is higher than it has ever been,” he added. “I think next year we are going to come back.”
Shannon had a positive outlook through 2018. “We have had a capital markets correction, but I don't see a recession,” said Shannon. “The debt markets are going to stay good, and people are looking harder at assets. I think this thing is going to turn around quickly. I am optimistic about 2017, and I think 2018 could be good too.” He said that the activity in markets like Seattle, where he is setting records, is a great example.
Shannon also had some advice. “There is still a lot of capital out there, but capital is ambivalent right now. It needs focus.”
Overall, all of the panelists were positive about 2017 and beyond, while Michael Van Konynenburg of Eastdil Secured gave an economic address where he said that Brexit could help drive economic growth here.
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in
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