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HBJ: In 2018, ‘there’s so much capital earmarked for real estate’ in Houston

By: Cara Smith, Houston Business Journal

January 19, 2018

Speaker Jimmy Hinton, managing director of HFF, a featured industry expert at the recent BoyarMiller Breakfast Forum “The Houston Commercial Real Estate Markets – What’s Ahead for 2018”  on Jan. 18 was quoted in this Houston Business Journal article:

“People from the outside (Houston) seem to view the market more clearly than we do, being so close to it,” Hinton said. “It’s a little bit like pointillism – the closer you are to it, all you see are the little dots.”

Hinton said there’s $150 billion in capital throughout the nation that’s ready to be deployed in the office investment market. He cited Canada Pension Investment Board’s $1.2 billion acquisition of Parkway Inc. – and a subsequent 8.7 million-square-foot office portfolio – as a prime example of outside investors seeing Houston as a value-add market worth investing in this year.

“I think it shows that viewing Houston from the outside, people see tremendous opportunity to … make a really big macro play,” Hinton said. “We see that continuing to take place. … There’s so much capital earmarked for real estate.”

In the fourth quarter of 2017, the average price per square foot for an office property in Houston rose from $199 to $245, per research from Seattle-based Colliers. And throughout 2017, the average price per square foot for an office property rose by 86 percent.

Read the original online at HBJ.com (subscriber content)