{"id":1004633035,"date":"2022-11-30T15:26:49","date_gmt":"2022-11-30T23:26:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004633035"},"modified":"2022-12-09T02:56:12","modified_gmt":"2022-12-09T10:56:12","slug":"cres-search-for-deals","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cres-search-for-deals\/","title":{"rendered":"CRE\u2019s Search for Deals"},"content":{"rendered":"<div id=\"attachment_1004192386\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/SSilverman_101713_04-800x620.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004192386\" data-attachment-id=\"1004192386\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/energys-promise\/ssilverman_101713_04-800x620-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/SSilverman_101713_04-800x620-e1685632471812.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D300S&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1382007108&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;35&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.0125&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Editorial Director Suzann D. Silverman\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Editorial Director Suzann D. Silverman&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/SSilverman_101713_04-800x620-e1685632471812.jpg?w=400\" class=\"wp-image-1004192386 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/SSilverman_101713_04-800x620.jpg?w=300\" alt=\"Editorial Director Suzann D. Silverman\" width=\"300\" height=\"233\"><\/a><p id=\"caption-attachment-1004192386\" class=\"wp-caption-text\">Editorial Director Suzann D. Silverman<\/p><\/div>\n<p>Commercial real estate is naturally an optimistic business. After all, it\u2019s about dealmaking, and dealmaking requires a constant search for opportunity. It requires finding deals that pencil, ideally deals that nobody else has identified or deals from which nobody else can derive value quite as well. If the deal is an acquisition, it requires finding the best way to finance it\u2014even in a challenging market, when lenders are reluctant to take a risk. And it requires knowing when to sit back and wait for the right time to move.<\/p>\n<p>Many saw reason for optimism in early November, with the announcement of a surprise inflationary easing in October after five interest rate hikes; it raised hopes that the economy was already turning around. During the <a href=\"https:\/\/www.commercialsearch.com\/news\/the-2023-cre-outlook-ceos-weigh-in\/\">CPE Voices webinar<\/a> a week later, however, <strong>Marcus &amp; Millichap<\/strong> president &amp; CEO Hessam Nadji cautioned the elation was very premature. \u201cIt\u2019s only one month\u2019s data, it\u2019s not a trend just yet, and we have a lot of distance between where we are today and where the Fed wants to see inflation,\u201d he noted, although he termed it \u201ca foreteller of what will happen when we get real evidence that the inflation wave has topped out.\u201d<\/p>\n<p>In fact, many investors are taking a wait-and-see stance right now, as the Federal Reserve continues to increase interest rates and economists offer varying predictions as to how soon a recession will occur and how deep it will be. Both <strong>B+E<\/strong> co-founder &amp; CEO Camille Renshaw and <strong>AEW Capital Management<\/strong> CEO Jonathan Martin noted during the webinar that their clients were waiting for interest rates to settle. And Rebecca Rockey, <strong>Cushman &amp; Wakefield<\/strong>\u2019s global head of economic analysis &amp; forecasting, told writer Gail Kalinoski for our Nov. 28 article \u201c<a href=\"https:\/\/www.commercialsearch.com\/news\/how-a-looming-recession-impacts-cre-deals\/\">How a Looming Recession Impacts CRE Deals<\/a>\u201d that, overall, sales were down 20 percent year-over-year in the third quarter, versus an increase in the first half.<\/p>\n<p>Granted, she noted, the comparisons were to a particularly strong investment market last year. And in keeping with CRE\u2019s characteristic opportunism, the third-quarter drop was not across the board. Some locations were quite active, as were some subsectors\u2014like suburban office sales, which increased while CBD office trades were down. \u201cIf your deal pencils out, you have a strong sponsor and strong thesis, the market is there,\u201d affirmed Sam Chandan, director of&nbsp;New York University\u2019s <strong>C.H. Chen Institute for Global Real Estate Finance<\/strong>.<\/p>\n<p>Going forward, private investors are likely to number among the more active, according to Nadji. Property sectors offering promise include medical office and life science. The distressed-asset market will also figure more prominently in the new year as more loans come due, Kalinoski noted in her article, with a need for equity and mezzanine debt investment.<\/p>\n<p>Finding opportunity. Making it pencil. Timing things right. That\u2019s what CRE investment is all about.<\/p>\n<p><a href=\"https:\/\/mydigitalpublication.com\/publication\/?i=770461\" target=\"_blank\" rel=\"noopener\"><em>Read the December Digest.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While many investors are taking a wait-and-see stance, commercial real estate is naturally an optimistic business. And even distress will drive dealmaking.<\/p>\n","protected":false},"author":755,"featured_media":1004192386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1521,21788],"tags":[],"class_list":["post-1004633035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital","category-editors-notes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CRE\u2019s Search for Deals - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cres-search-for-deals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CRE\u2019s Search for Deals\" \/>\n<meta property=\"og:description\" content=\"While many investors are taking a wait-and-see stance, commercial real estate is naturally an optimistic business. 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