Houston Chronicle: BoyarMiller panel: More growth ahead for Houston commercial real estate
By: Katherine Feser, Houston ChronicleJanuary 22, 2018
As part of its ongoing Breakfast Forum series, BoyarMiller gathered industry experts for a panel discussion on the look ahead for Houston’s commercial real estate markets for 2018. Speakers included Jimmy Hinton with HFF, Jonathan Brinsden with Midway and John Nicholson with AVERA Companies.
Houston Chronicle reporter Katherine Feser covered the BoyarMiller Breakfast Forum: The Houston Commercial Real Estate Markets – What’s Ahead for 2018 in this article:
Investors placed big bets on Houston real estate in 2017, and this year should shape up to be strong, too, a panel of experts at BoyarMiller’s annual commercial real estate forum said Thursday.
The Canada Pension Plan Investment Board put $1.2 billion into Houston office buildings, including Greenway Plaza, with the acquisition of Houston-based Parkway last year. The sovereign wealth fund made the investment directly rather than going through a private equity firm, said Jimmy Hinton, managing director of research, HFF.
Brookfield Property Partners, already a major downtown landlord, capped off 2017 with the $875 million purchase of Houston Center.
While those in Houston may focus on a glut of space resulting from the energy downturn, investors perceive the local market as opportunity.
“People from the outside seem to view our market a little more clearly than we ourselves do at times,” Hinton said.
Jonathan Brinsden, CEO of Houston-based Midway, said 2017 was better than 2016, and he agreed 2018 is going to be even better.
“A lot of capital is looking at Houston and saying ‘We kind of like what we’re seeing in the market’,” Brinsden said in remarks to the breakfast crowd at the Briar Club.
Mixed-use projects will stay high on investors’ lists, Brinsden said. He cited Kirby Collection, which is finishing up in Upper Kirby. It has office, apartments and retail.