Mid-Atlantic Real Estate Investment Market Report: April 2020
The Value of Hard Money in the Real Estate Investment Industry.
Private (or hard money) lenders are some of the most important funding sources for real estate project investors. Whether you’re new to real estate investing or an expert, chances are you will want to scale your business at some point. And every successful real estate investor knows that, to scale your business, you need one thing: reliable funding.
With the current condition of the market, it’s now more important than ever to make sure that you have a relationship with a hard money lender that you can rely on.
See full articleMarket Activity
According to JLL, Richmond’s office market entered 2020 with a small occupancy gain. There were some expansions in the CBD space while sublease space pushed the overall vacancy slightly higher in the suburbs. Overall asking rents peaked at $22.22 per square foot, a 6.5 percent annual increase, while Class A saw an annual increase of 4.8 percent.
Market Activity
This overview is based off the first two months of the period prior to the pandemic. Overall vacancy remained at 9 percent, while Class A increased from 11.5 percent to 12.2 percent and Class B decreased from 7.3 percent to 7.0 percent. As for the average rental rates, both classes essentially remained flat and are projected to remain flat for the next quarter, according to Colliers International.
Market Activity
For the Washington D.C. market, it’s expected that tenants are unlikely to move into new homes or apartments during this time. Newer communities will have a hard time attracting individuals to fill their vacancy, while properties that cater to lower-income tenants will feel an impact in their revenue stream. Investors and landlords with diversification will fare better than those with less units.
