A commercial real estate industry member recently announced that the market has many reasons to be positive, which could make commercial property managers feel more optimistic about the situation.
Barry Sternlicht, chairman and CEO of Starwood Capital Group explained during a CNBC interview that the market has started a significant comeback due to an influx of investors looking for properties with notable upside. The multifamily industry has been the most successful in the country, due in part to the continued preference from consumers to avoid home buying and look at apartment options.
"Commercial real estate is a yield vehicle," Sternlicht said. "People are looking for an alternative to buying high-yield bonds and Treasuries."
Beyond this, many commercial real estate investors have been interested in continued investment in the residential industry as well, he explained. This is due to the low-risk factor of purchasing groups of these properties due to low rates.
Sternlicht added that the federal government's economic policies leave much to be desired, and these could affect the commercial market throughout recovery.
Posted in Commercial Banking
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