With a consensus that capital markets activity has shifted in the post-shutdown economy “from a 1 to a 6 out of 10,” several local real estate experts have reason to be cautiously optimistic about the state of the capital markets since the dramatic freeze during the shutdown in the spring months in the greater DC region. With the relative strength of the regional economy, hopes of a virus vaccine on the horizon, and prospects for increased federal government spending under a new administration, capital markets activity will continue at a steady but tempered pace. The coming months will encounter several bumps in the road that could detour the recovery, including the lasting effects of a dramatic downturn in urban markets and an increase of distressed properties, particularly within the commercial office and retail classes in urban areas.
These sentiments were presented in a webinar sponsored by the NAIOP DC|MD Chapter and moderated by Joe Friedman, Partner, Capital Markets, Edge. Panelists included Alex Basile, Director, Debt and Structured Finance – Multifamily, Newmark Knight Frank; Martin McCarthy, President and CEO, Founders Bank; and Jared Okun, Managing Partner, Fortified Property Group.
Read the full Q&A here.