Debt in Demand in Pacific NW
Strong fundamentals are also driving the demand for debt in the Pacific Northwest to new highs, JLL’s John Lo tells us (second from left, with colleagues Stuart Williams, Mark Thygesen, and Matt Kemper). All types of debt are in demand, reflecting the broadness of the regional real estate expansion: debt and equity recaps, acquisitions and redevelopments, as well as construction and bridge financing. “As the Pacific Northwest continues to outpace the national average in commercial real estate demand and growth—and more investors flock to markets like Seattle and Portland—so will the need for various types of capital,” he says.
John anticipates demand for debt to grow in all property segments, since the property boom in this part of the country isn’t just about multifamily anymore. Recently JLL tapped him to lead the firm’s real estate investment banking practice for Washington and Oregon. Previously he was a founding and lead partner in Bluewater Realty Capital, a regional mortgage bank in the Pacific Northwest, and before that John was a VP at Intervest Mortgage, as a construction lender for the Wells Fargo Real Estate Group.