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Jon Krebbs Discusses CRE Market with Peak Market Watch
September 16, 2020 · By Jon Krebbs
TMG founder and Managing Principal Jon Krebbs joined Peak Market Watch for a live-streamed market discussion covering the current state of the commercial real estate market, with a focus on multifamily in Texas and Oklahoma.
Key Takeaways
- Transaction volume: Deal volume in the Texas multifamily market declined approximately 40% year-over-year through Q2 2020, but momentum started returning in Q3 as lenders reopened their windows.
- Rent collections: Contrary to media narratives, Sunbelt workforce housing collections held above 90% through the spring and summer — a function of strong essential worker employment and government stimulus.
- Buyer pool: The pool of active buyers narrowed but did not disappear. Private buyers with cash or bridge financing have been the most active, while institutional capital moved to the sidelines.
- Outlook: Jon expressed cautious optimism for Q4 2020 and into 2021, citing resilient fundamentals and a growing pool of motivated sellers who need liquidity.
Watch the Full Interview
The full interview is available on the Peak Market Watch YouTube channel. Topics covered include specific submarket performance, lender behavior, and strategies for buyers and sellers in the current environment.