Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/102789
State of the Market "Of particular interest was a very timely panel discussion on the state of the fnancial markets," said attendee Michael Anderson, CCIM, owner of RealSource in Salt Lake City. "Tis is information I can use every day in building my business." Te lending experts who participated in the commercial fnancing panel discussion see improvement in the national market, but there's still a lot of uncertainty about the market's long-term prospects. "We're being much more aggressive than we were a year or two ago from a fnancing standpoint," said John Manganiello, senior vice president and market executive for Bank of America Merrill Lynch. Attendee Chad Gleason, CCIM, principal with Gleason & Co. in Kent, Wash., liked the sound of that: "Hearing about groups that are willing to lend on TIs and fll the gap between your main loan and owner contributions was a big relief," he said. But fear of a "lending gap" in 2016 tempered the positive outlook among panelists. Tey expect a commercial mortgage-backed securities shortfall that other lenders, such as insurance companies, won't be able to step in and fll. Te good news? "It's an opportunity for CCIMs," said Richard Podos, founder of Lance Capital LLC. "Craf solutions that the next guy can't fgure out." Deal or No Deal: Trends and Issues Tat Are Impacting Commercial Real Estate was led by Brian Bailey, senior fnancial policy analyst with the Federal Reserve Bank of Atlanta. Afer an in-depth examination of each commercial real estate sector and CMBS, among other topics, Bailey concluded that the real estate market is improving. However, the pace of that recovery is highly dependent on property type and location. Another favorite session among attendees was the CCIM Live! economic panel luncheon, which began on a relatively positive note: "I don't think we'll see another recession," said Mark G. Dotzour, chief economist and director of research at Texas A&M; University. "We have too much pent-up demand." But fellow panelist Mark Vitner, managing director and senior economist with Wells Fargo, was less optimistic. "U.S. fscal policy is mathematically unsound and unsustainable," he said, explaining that, while we probably won't go over the fscal clif, signifcant "fscal drag" is certain to plague the U.S. economy in 2013. Suzanne Mulvee, senior real estate economist with Property and Portfolio Research, ofered a perspective on how the major commercial real estate property sectors are faring amid these economic circumstances. "Te good news is that things are moving," she said, citing falling vacancy rates in many markets. More than $1.5 trillion of commercial real estate loans will mature in the next fve years. Panelists who participated in the Troubled Assets session ofered four perspectives on this situation: special servicers (Bill Stolberg, CCIM, CPM), national banks (Jef Johnson), community banks (Maryann Mize, CCIM), and brokers/investors (Gary Ralston, CCIM). "It was interesting to hear about the sheer volume of commercial mortgages that will be coming due and opportunities for short sales," CCIM.com said new designee Timothy Salmonsen, CCIM, a broker with Century 21 Exclamation Realty in Rogers, Ark. Panelist Maryann Mize, CCIM, senior vice president with Charlotte State Bank in Port Charlotte, Fla., provided some pertinent information about the role of community banks. "Tey're an important source of fnancing on the sale of bank-owned assets of larger fnancial institutions," she explained. "And commercial real estate loans comprise 30 percent of their loan portfolios." Tools You Can Use Todd Clarke, CCIM, CEO of NM Apartment Advisors, led day two's frst education session, Innovative Marketing: Integrating Social Networking Into Your Existing Marketing Plan. "Successful implementation of social networking requires listening," Clarke explained. He recommended several tools that commercial real estate professionals can use to monitor social media, including Google Alerts, TweetDeck, and HootSuite. "Don't post listing afer listing," Clarke said. "Start a conversation." Clarke, who also teaches a course on technology and social networking through the Institute's Ward Center for Real Estate Studies, focused on practical tips but also explained why social media shouldn't be ignored. "Todd always ofers insight into the use of technology in real estate practice that we employ and appreciate every day," Anderson said. Te conference closed with the CCIM All-Star Panel hosted by 2013 CCIM President Wayne D'Amico, CCIM. D'Amico asked those top industry professionals who are also CCIMs why they value the pin. "We're bound together by the education," said Richard E. Frazier Jr., CCIM, director of real estate with Kaman Industrial Technologies. "Since we speak the same language, we can move quickly through a transaction, which is important in our business." And Ryan Lorey, CCIM, senior director with Broadcom Corp., noted that CCIM concepts can make a big impact in the C-suite: "We can take the knowledge we have and educate corporate CFOs." What type of knowledge, for example? "One thing I learned about cash fow: More is better sooner," Lorey added. VENDOR RUNWAY WINNER: REI WISE REI Wise PowerBroker took top honors at CCIM's vendor runway competition during CCIM Live! in Las Vegas. The PowerBroker package includes financial analysis, integrated marketing, and transaction management tools. CCIM designees can register for a free PowerBroker account at www.reiwise. com/stdb, and candidates can purchase PowerBroker at a 20 percent discount at www.reiwise.com/candidate. January | February | 2013 37