CARROLL recently held a virtual town hall with leaders in multifamily to discuss how firms can lead through these changing times.
ATLANTA, GEORGIA, UNITED STATES OF AMERICA, May 26, 2020 /EINPresswire.com/ — CARROLL, one of multifamily’s top owners and operators, recently held a virtual town hall with leaders in the industry to discuss how real estate investment firms can lead through these changing times. Despite the slow down in transaction flow over the last 2 months, leaders are optimistic about the future even if it might look different than it did in 2019.
Joining CARROLL founder and CEO, Patrick Carroll, was Kris Mikkelsen, COO and managing director at Walker & Dunlap, Robert LaChapelle, vice chairman of debt and structured finance at CBRE, and Blake Okland, vice chairman and head of multifamily investment sales at Newmark Knight Frank.
Despite the current conditions, each leader is optimistic about the path forward in multifamily.
“We’re seeing equity trying to see where’s the mark. On the debt front it is becoming increasingly predictable…The agencies are serving the role that they were created to do…They’re coming back. They are being price competitive.” – Robert LaChapelle
“There was a saying in the last downturn, “don’t bet against the Fed.” I’m not going to bet against the Fed because they are piling money into the economy. That’s going to show up in positive ways. It has to.” – Patrick Carroll
“We’re starting to see the ice thaw…We’re seeing capital willing to get active again.” – Kris Mikkelsen
The turn came quick and caught everyone off guard, but firms quickly adapted and were bolstered by years of positive results.
“The downturn came on so fast…and how do you communicate as a leader that everything is going to be fine? You have go out there and show by example.” – Patrick Carroll
“It hit us like a freight train. We went into triage mode and had to get creative on how to structure transactions to keep them together.” – Kris Mikkelsen
So, what is the path forward? Each of the leaders see significant upside coming but this will likely serve as a reset for the industry.
“I think you’re going to see smaller markets benefit from this.” – Patrick Carroll
“There’s going to be far more support for quality of life decision making across all organizations…There’s the notion of suburban office becoming attractive again for continuity reasons.” – Blake Okland
To view the entire townhall, go to CARROLLorg.com
Leadership and Investing During Changing Times: A Virtual Town Hall
Source: EIN Presswire