Evergreen Realty Advisors is a Dallas-based company that owns, operates and develops commercial real estate. The Hallmark of our company is providing an effective, proven, and customized real estate strategy for each client. We align our interests with our investors and help them protect and build wealth. We acquire and develop assets using third party equity and debt. Our equity relationships include private capital and institutional investors, and we invest our own capital in each project. Formed in 2004, we have extensive experience and have achieved many successes investing in a diverse group of real estate assets. Backed by decades of fiduciary experience we implement creative ideas with a disciplined approach to offer solutions designed to achieve returns that outperform the greater market. We employ this approach in markets we believe are poised for long-term growth through positive economic and demographic trends. Evergreen produces results by carefully evaluating each client's needs and developing a comprehensive strategy to maximize investment returns. Evergreen’s principals have a proven track record of superior client service and long-term value enhancement.
Evergreen Realty Advisors的外部链接
US，Texas，Dallas，75230
The cycle continues to churn.........
Last few weeks = Goldman and Blackstone have messaged we are at a bottom of the cycle in CRE. Today = Oaktree “We could be on the precipice of one of the most significant real estate distressed investment cycles of the last 40 years,” Who will be correct? ?? https://lnkd.in/gh7h_eW4
Interesting - only 3 years ago
Lenders are from Mars. Borrowers are from Venus. Rewind 10 years. If you wanted to make $100M+ your best bet would have been to buy, fix, and flip class B apartments. -- Occupancy was up substantially -- Rents were up substantially -- Debt was increasingly available -- Equity was increasingly available -- Cap rates were down substantially -- Values were up substantially Relatively easy 15%+ annual returns, with big operators approaching 30%. 2x multiples year in and year out. ...for the better part of a decade. Those tailwinds have now turned to headwinds... -- Occupancy is down -- Rents are flat or down, depending on the market -- Debt is more restrictive -- Equity is more restrictive -- Cap rates are up And the most meaningful of these changes--as illustrated in this visual--relates to debt. Values always fall when lenders increase their thresholds (higher debt yields, high debt service coverage ratios, and/or lower LTVs.) Arguably, no subsector within commercial real estate benefited as much from cheap debt as B apartment sponsors. ...and perhaps no subsector will feel the pain more than those same sponsors. Many of these sponsors have deservedly captured headlines for 12+ months. Others have been swept up in those headlines but will survive and potentially thrive. Either way, we think it's important to highlight what has driven the significant downshift in this market: Debt availability. #creanalyst #realestatecapitalmarkets #bapartments