Mark Davidson

Appraisers in the U.S. need better tools that allow them to use more judgement in valuing assets. My colleague Willem Vlaming has been developing work showing that in parts of the world with low market liquidity and few comparable sales, that appraisal teams have been better able to capture the decline in asset values. http://ms.spr.ly/6040Yw5ts MSCI Real Assets #CRE

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SRS' Matthew Mousavi, MBA recently spoke with PERE News about the state of the retail net lease market and the driving forces behind the slowdown of deal volume across all net lease asset types. "Occupancy rates are healthy, but the valuations are out of whack," says Mousavi. "Because we don't have a lot of distress, you don't see valuations going down, even though rates have gone up considerably. The market is inefficient now because it's frozen." Click the article to read more about the state of the retail net lease market ➡️ https://lnkd.in/gaxqvmCS #RetailInvestor #NNN #InvestmentSales #SRSCapitalMarkets #CapitalMarkets 

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Sublease additions dropped significantly by over 40% year-over-year in Q1 2024. Growth-minded tenants are seizing the opportunity to acquire higher-quality spaces, with notable sublease transactions in the Bay Area and New York, including ByteDance’s163,000-s.f. sublease of Roku’s space in Silicon Valley. In Q2, the momentum continues with the New Jersey Institute of Technology securing a 75,000-s.f. sublease at 494 Broad Street in Newark. The demand for large-block, high-quality sublease listings remains strong, with limited availability as Carvana subleased more than 40,000 s.f. of its Marina Heights office campus to LPL Financial in April. Backfill activity is driving the decline in national sublease availability, which decreased by 2.6 million s.f. in Q1, now standing 16 BPS below peak sublease availability rates recorded in Q3 2023. #RealEstate #CommercialRealEstate #Sublease #MarketTrends

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All sector yields remain unchanged this month as transaction volumes slowly pick up

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So we’ve been at it a few months now and we are listening! Here’s what we learned from our agent users with Valuetest.ai 1.1 going live this week: •seller concessions need to be broken out. Deal structuring will be paramount going forward! •ranges of comp price per square foot added to the analysis •a longer test drive to 30 days with unlimited use is needed •monthly subscription for unlimited use is a great option From loan officers: •they want ValueTest.ai Transaction Test on every contract •they want a refi decisioning tool that goes beyond automated values •they want differentiating tools to market listing agents •they want value adds for their buyers’ agents So excited for this update! #propmixio #valuetestai #appraisaltroubleshooting #aidrivenresearch #testdrive

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New episode on The Weekly Take: CBRE Capital Markets specialists offer insights on debt availability, capital flows, sector fundamentals and deal pricing, while our Chief Economist who comments on the economic outlook. https://lnkd.in/gzrqgF-6

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In Starwood REIT's letter to investors last week, they said "...we cannot recommend being an aggressive seller of real estate assets today given what we believe to be a near-bottom market with limited transaction volumes, and our belief that the real estate markets will improve." Additionally, in CRE Daily today, there's a great chart showing that apartment transaction volume in Q1 2024 is at its lowest level since Q2 2020, at the onset of the pandemic. In many of our markets, it certainly seems like values have bottomed out. And it's difficult to get a read on values with limited activity. In Calvera Partners' new fund, CIGF, we don't have a legacy portfolio where we have to worry about forced sales to raise money for redemptions. We're able to buy now into a bottoming market. That's an advantageous position to be in.

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I had a great conversation with Michael Bull, CCIM about the retail property market last week. Check out the recording here: https://lnkd.in/grHfbEXV #CRE MSCI Real Assets

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As we noted in our 2024 Global Outlook, retail continues to be a bright spot in 2024. Pricing has stabilized, rents are rising, and vacancy rates are declining. I recently spoke with PERE about why pricing has stabilized, rents are rising, and vacancy rates are declining. Capturing this tailwind, HUSPP, our core-plus open-ended fund, recently made an acquisition in Chicago that highlights the best of what retail is currently offering. Read more about our efforts in the retail sector here: https://lnkd.in/eEjAsexf

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The April MSCI sales update from Colliers reveals the weakest sales month in 2024, influenced by a rise in the 10-year Treasury. Multifamily remains the top asset class, while hospitality saw a 98% year-over-year volume surge. Office and industrial sectors experienced declines, and retail showed signs of stabilization despite an 11% drop from last year.

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🏢💼 Amidst fluctuations in the commercial real estate market, this recent report sheds light on a potential turnaround, signaling hope for recovery in CRE sales transactions. However, nuances across property types persist, emphasizing the need for sustained efforts and a favorable economic landscape. Read more about the evolving dynamics and the crucial role of interest rates in navigating towards pre-pandemic normalcy in this insightful analysis. Website: mclennanindustrial.com  Bio: https://lnkd.in/gJihJmJ9  Google Business Page: https://lnkd.in/gHn-YT5m  YouTube: https://lnkd.in/gxz7UURi  Instagram: https://lnkd.in/g3gNBFkV  Facebook: https://lnkd.in/gNmDVBBE  X: https://lnkd.in/g4f-8_aJ  TikTok: https://lnkd.in/g8_RtaNV  LinkedIn: https://lnkd.in/gms5TXMP #PugetSound #TenantRepresentation #LandlordRepresentation #SIOR #CCIM #IAMC #NAIOP #CRE #CommercialRealEstate #IndustrialRealEstate #Industrial #Logistics #Manufacturing #Warehouse #Seattle #Tacoma #KidderMathews #Kidder #SupplyChain #CommercialLand #WarehouseSpace #Warehouse #KingCounty #PierceCounty #ThurstonCounty #Seattle #Tacoma #RealEstate #SupplyChainManagement

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Listed REITs returned +2.1% this week, outperforming the market value weighted S&P by +255bp and the equal weighted S&P by +222bp. The sector has now risen five out of the past 6 weeks. Real estate was the 2nd best of the S&P sectors trailing only energy. Sixteen out of 18 subsectors were positive as cell towers (+4.9%), industrial (+4.4%), healthcare (+3.4%) and shopping centers (+3.4%) led while lodging (-0.7%), apartments (-0.6%), diversified (+0.1%) and specialty (+0.1%) lagged. While YTD returns stand at -4.3%, valuations have risen+6.4% since the YTD trough last month and are nearly 20% above the late October 2023 trough. Here's your pretty picture.

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Did you know that a WHOPPING 45.3% of Equity Lifestyle Properties' Property Operating Revenue came from properties in Florida in 2023? For industry analysis & deep dives into portfolios & performance of operators like ELS, subscribe to my newsletter at: ohweekly.substack.com

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In this episode of The REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss current trends in commercial real estate transaction levels and whether they may have bottomed with Senior Commercial Real Estate Economist Xander Snyder. https://lnkd.in/e24gM-pf #FirstAmericanTitle #REConomy #REConomyPodcast #FirstAmEconomics

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At Inventure, I have the incredible opportunity to work alongside some amazing people, shaping the future of commercial real estate and CRE investments. From scouting new opportunities to strategic planning, every day brings new challenges and rewards. In this clip, I'll give you a glimpse into the day-to-day responsibilities here at Inventure. #CommercialRealEstate #CREInvestments #StrategicPlanning

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Slowing #industrial construction activity will bring supply/demand back into balance in #SouthFlorida by 2025. In our latest article, CoStar Group data and expert commentary reinforce this view of a market recovery ahead. CoStar Group subscribers can click the link to find out more! #CRE #miamidadecounty #browardcounty #palmbeachcounty

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