Blogging live from ICSC: Hot!

icsc boothBrokers and officials from commercial real estate firm Next Realty, which operates a busy office in Chicago, are in Las Vegas this week to attend the International Council of Shopping Centers’ RECon, the biggest convention serving the brokers, developers and managers who build, operate and lease space at shopping centers across the globe.

Next Realty’s Eteri Zaslavsky, who in 2012 led the raise of Next Realty Fund VII, a private equity fund targeting retail and parking investment opportunities, and Rebekah Carlson, director of marketing at the company, are blogging from the convention this week for REJournals.com.

“Hot!” by Eteri Zaslavsky

The investment environment at Las Vegas ICSC this year is as hot as the weather outside.  The convention center is filled with hustle and bustle. From large institutional investors to small local players, everyone has capital to deploy.  Investors are searching for yield, developers are on the prowl for the next development opportunity and capital (both equity and debt) is plentiful.

The general outlook from the convention is positive.  But unlike the last time around, real estate professionals are cautiously optimistic.   People seem to be asking a lot of questions.   What is fueling the growth?  How long will this last?  Is this sustainable?  How do we minimize the downside risk?

There seems to be consensus about one thing, in order to minimize downside risk, take advantage of the attractive debt and lock it in long-term.   And as you navigate the investment environment, try not to get burned.

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