May 07, 2022

State of CRE with Kris Mikkelsen, EVP of Investment Sales, Aaron Appel, SMD of Capital Markets, and Ivy Zelman, EVP of Research & Securities - 2nd Appearance

59 minutes

Power is in the hands of the ones with cash – that’s the general prediction of the corporate real estate market moving forward post-pandemic. With multi-family companies throwing money at more rental housing and inflation numbers at an all-time high, the future is uncertain as consumers struggle to afford a place to live. Research and Securities Executive VP Ivy Zelman, Investment and Sales Executive VP Kris Mikkelsen, Capital Markets Senior Managing Director Aaron Appel join Willy Walker on this week’s Walker Webcast as they dissect the current condition of the corporate real estate industry, why money is king, the probability of a soft landing versus a hard landing, and their thoughts on the best areas to invest in right now. Ivy Zelman sheds light on how rentals are unsustainable as more capital is flowing into the space, and a backlog of properties without leases exists. She also points out the disconnect between buyers’ willingness to pay and sellers’ expectations. Kris Mikkelsen lays out where he would put on his dollars – capital assets where rates can be reset and capital in markets with strong growth fundamentals and low risk. He emphasizes a lower leverage point and the ever-changing cost of homeownership in the past three months. Aaron Appel believes the future of CRE isn’t completely bleak, as time and time again, we’ve witnessed the market adjusting when there’s enough distress. But with the country’s escalating debt, inflation comes as a result of working to overcome it. Tune in to this new episode of Driven By Insight — CRE State of the Union with Ivy Zelman, Kris Mikkelsen, and Aaron Appel.

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