| Areas around Tier 2 like Walnut Creek and Marin could see a boost as investors look for lower prices, says Prudential Mortgage Capital’s Jaime Zadra (shown speaking at last week's Bisnow event). Most don't like paying over $400/SF, but financing via the CMBS market is available (even if it's fairly volatile). But there's reason for caution: Jaime sees very little demand for new office space in most submarkets, leading to double-digit vacancy. |
| With tech-driven markets thriving, other cities are attempting to model themselves after San Francisco. Mark Halloran of sponsor GRS Group asked the panel: how can this be accomplished? |
| Mesa West Capital’s Ronnie Gul says tech companies want to locate near colleges with good engineering departments (for recruiting, we assume, and not the parties). As a value-added lender, he’s trying to find deals where there will be absorption, which often means flocking to areas like Sunnyvale and Santa Clara. |
| Redwood Trust’s Natalia Todorov says she hasn’t redlined any second-tier markets yet, even though a submarket's strength depends on the asset class. |
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Related Topics:
GRS Group
, Jaime Zadra
, Mark Halloran
, Mesa West Capital
, Prudential Mortgage Capital
, Redwood Trust
, Ronnie Gul
, Santa Clara
, Walnut Creek
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