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Realty News Report: Out of the Deep Freeze: Houston Real Estate is Heating Up in 2018

By: Michelle Leigh Smith, Realty News Report

January 19, 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.

Realty News Report reporter Michelle Leigh Smith covered the BoyarMiller Breakfast Forum: The Houston Commercial Real Estate Markets – What’s Ahead for 2018 in this article:

After a slow market last year, Hinton said major investors are bullish on Houston for 2018. “There is $150B of dry powder in the queue sitting on the sidelines waiting to deploy, but it is very patient,” he said. “It’s important to step from the inside and look at it from the outside. You can achieve a better deal here than paying for a four-cap apartment building in San Francisco. “The opportunity to increase that cap rate through NOI accretion is better in Houston given our position in the economic cycle, versus other domestic markets.”

He asked the crowd to envision Houston from the outside, from the viewpoint of a sovereign wealth firm like Canadian Pension Plan Investment Board with $325B in assets under management, with approximately ten percent of that earmarked for real estate. “You are in charge of investing and you curate partnerships with the intention to invest in retail, apartments, and industrial. When it comes to office, you directly place $1.2B in Houston office properties. (Last year, CPPIB bought Parkway REIT, which owned Greenway Plaza and other major Houston buildings).”

Hinton offered some insight to those who seek a clear picture the Houston real estate market. Drawing a reference to the impressionism art of the 1880s, Hinton compared it to pointillism, the practice of applying small strokes to blend together to form a painting. “At close range, you are just seeing the dots,” he said. “Step back, and you can see our market more clearly.”

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