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Anyone feel they’re slow?
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Things have def slowed down the last few months with interest rates where they are but my group still has a good stream of work, we just aren’t overloaded for once.
Work is much slower. That being said, the last two years were crazy and unsustainable. It’s still steady, just more manageable.
Oh man. I can’t WAIT for the slowdown to reach my desk. The last two months have been a dumpster fire, and September is looking to be the same way.
I practice commercial real estate and development work at a large regional firm. The workload has definitely lightened. We still have plenty of work, but the level of urgency has dropped and we finally aren’t overwhelmed.
Pretty much the same here at my midsize regional firm. My development practice has remained steady, with plenty of work in the pipeline but not as crazy and urgent. Transactions seemed to have slowed some.
Same here - work has definitely slowed in some areas more than others (ex. Finance is much slower but we still have a fair amount of leasing). Theres still plenty of work to keep us busy nut nowhere near as overburdened as before
Wayyyyyy down.
leasing activity has been on fire for us, retail and office properties. Beginning of the year was slow. Now closing out all transactions, so anticipating a slow down year-end
We are looking to hire three mid levels because the workloads are too high for our associates. Work really started coming back about 10 days ago. Brokers are going from one to two offers on dispos to getting 10+. All good signs.
CMBS lending has slowed down quite a bit, but Q4 is anticipated to be busy as usual
I would like for some of this slowing down to reach my desk!
Leasing is still busy here in nyc
The market has gone way down, especially finance. We are all hoping things pick up after Labor Day. Seeing things that could go either way.
We do mostly leasing work and it has slowed down a lot.
So, yes there is a slow down. I am the appraisal manager of a larger regional financial institution. You can expect a slow down till probably end of 1Q23. That would be my guess. At least in the more expensive $10MM and higher deals.
I’ve seen a lot of RE PE fund formation mostly in multifamily.
Def slowing down but, firms have capital to deploy so I assume deals are still getting done. Also, depends on the part of CRE you are in. Like senior housing vs sale leasebacks are very different.
It’s firming up for me
I work on the RE Debt side (bridge lending primarily), things are busy, we have a fixed rate program that is especially busy right now, our floating rate programs are still active though. Total deal flow might be slightly slower because the note trade is slow, but overall I would argue that things are picking up as people want to build more.
I’m still billing between 7-10 hrs per day although the urgency on some deals seems to have decreased.
In CRE lending, $50MM+ space. Last few month have been very busy. Mostly because several large institutional banks have basically stopped putting new money out leaving an opportunity for the smaller/regional banks. Entire space has nearly doubled their 2022 budget already and are now being extremely selective on what they lend on. Feels like liquidity will return to the market once 2023 kicks off as budgets reset.