Money On The Sideline: Preconceived Notions May Limit Houston Investment
Houston commercial real estate fundamentals are picking up, but capital infusion into the Energy Capital of the World may be a mixed bag in the short term. “There is a lot of money on the sidelines that wants to be involved,” Belvoir Real Estate Group LLC Managing Director Matthew Goldsby said. “The market has passed the trough and is in the early recovery stages.”
Despite the improvement, some in the investment world may stay on the bench this cycle, while others said it is game time in Houston. The decision lies within the perspective of the overall health of the market (which is different for locals vs. national players and buyers vs. sellers) and the value of the specific property.
National players are concerned with the devastating headlines from the oil bust to Hurricane Harvey. Debt investors are asking flood-related questions in response to the storm, Avison Young Principal of Capital Markets Darrell Betts noted.