Are members of the commercial real estate industry feeling more optimistic, less optimistic, or about the same as they were six months ago? This was the question posed to CRE leaders at a recent event in Los Angeles. According to their consensus view, there is an overall increase in optimism but it remains cautious and may vary depending on who you ask.
When asked about their outlook, Gary Bechtel, CEO of Red Oak Capital Holdings stated that “generally, I would say they’re more optimistic.” However he also noted that many are hoping for interest rates to decrease but understand that current rates will likely remain for some time.
In a video featuring insights from industry experts such as Lew Horne (president of CBRE’s Greater LA region), Bob Hart (president and CEO of TruAmerica Multifamily), Kyle Matthews (founder and chairman & CEO of Matthews Real Estate Investment Services), Craig Coan (partner at Greenberg Glusker), John Manning (SVP at Marcus & Millichap Capital Corporation) and George Mitsanas (principal/president at Gantry) further discuss this topic.
Overall it seems that while there is increased optimism among industry leaders regarding the future state of commercial real estate market conditions; caution still prevails.
