| There is little doubt that we are
| |
| | markets and look toward markets
|
| currently experiencing one of the most
| |
| | recovering from downturns.3. Change Asset
|
| heated seller's markets in recent
| |
| | Class Focus: Rather than chasing
|
| history. Today's investment sales market
| |
| | multifamily and retail properties look
|
| has been reduced to an e-bay like
| |
| | for opportunities in office, hospitality
|
| environment where retail brokerage houses
| |
| | and industrial asset classes.4. Stay Away
|
| simply put an asset up for auction and
| |
| | from Traditional Trophy Assets: If you
|
| wait for the buyers to circle like hungry
| |
| | must buy big look for opportunistic plays
|
| sharks.Many will point to the increased
| |
| | that have higher vacancies, lease
|
| flow of funds in the commercial capital
| |
| | roll-over risks, or financing issues. An
|
| markets creating a demand-side frenzy
| |
| | asset doesn't need to be located in New
|
| that is causing a compression in cap
| |
| | York, Chicago or Los Angeles or be fully
|
| rates and escalating prices to all time
| |
| | leased to constitute a trophy
|
| highs as justifying current market
| |
| | designation.5. Look for Joint Venture or
|
| tactics. However while there is an
| |
| | Recapitalization Opportunities: Many of
|
| element of truth surrounding the logic
| |
| | the best opportunities in today's market
|
| contained in the previous sentence, I
| |
| | are not found in out-right acquisitions.
|
| believe it is simply easier for many
| |
| | Explore joint ventures that will allow
|
| buyers to blame the market and follow the
| |
| | you to co-invest with existing owners of
|
| crowd rather than adapt their
| |
| | assets in a fashion that will allow them
|
| acquisitions plan. This is evidenced by
| |
| | to free up trapped equity or fund new
|
| the fact that many institutional buyers
| |
| | developments.6. Change Your Acquisition
|
| like REIT's, TIC syndicators or foreign
| |
| | Process: Traditional acquisition time
|
| investors seem content to participate in
| |
| | frames that were competitive 12 months
|
| the madness rather than seek alternate
| |
| | ago will leave you on the outside looking
|
| investment strategies. The need to place
| |
| | in with today's frothy market conditions.
|
| funds seems to be taking precedence over
| |
| | Be willing to make unsolicited offers,
|
| making good investment decisions for many
| |
| | put up meaningful earnest money deposits
|
| in today's market.The real opportunities
| |
| | and close quickly.In summary, we are
|
| in today's market are not found by
| |
| | experiencing quite a competitive sellers
|
| following the herd mentality but can be
| |
| | market and the investment sales market is
|
| found in the application of any of the
| |
| | turning into more of an e-bay type
|
| following strategies:1. "Off-market"
| |
| | auction than a business transaction.
|
| transactions: Seek out assets that are
| |
| | However, there are many real
|
| not listed by retail brokerage firms.
| |
| | opportunities in today's market that can
|
| Hire an investment bank to approach
| |
| | be found when you change the way you look
|
| principal owners on a direct basis
| |
| | at the investment sales market. Myatt is
|
| negotiating with them on assets that are
| |
| | Executive Managing Director of Pacific
|
| not publicly for sale.2. Change Market
| |
| | Security Capital, a leading commercial
|
| Focus: Focus your acquisition strategies
| |
| | real estate investment banking firm
|
| on secondary and tertiary markets where
| |
| | providing commercial real estate loans,
|
| there will be less competition for
| |
| | structured finance, investment sales and
|
| assets. Additionally stay out of the hot
| |
| | advisory services.
|
