Wachovia Securities: Recovery Slow To Take Shape

Northern California, Denver, Indianapolis, Atlanta and several Texas metros top the list of Wachovia Securities’ weakest real estate markets at mid-year. And on a property class basis, the multifamily market is coping with a supply glut that will further slow its recovery.

Article Tools

Latest News

More Latest News

Capital flows to the apartment sector typically a favored investment type, are also slowing. Meanwhile retail, most popular among capital investors right now and the most stable sector, continues to outperform and is poised, along with hotel, to benefit quickest from the economic recovery.

"Since our April 11, 2003, report, the clouds overhanging the property markets have become slightly grayer and more widespread," says Wachovia CMBS analysts Brian Lancaster, Davis Cable and Kathy Mixon in the report, which was released today.

On the brighter side, Wachovia reports that the hotel market has bottomed out, projecting a RevPAR recovery later on this year or early 2004. The office and industrial sectors will continue to suffer from extensive overcapacity, and these sectors are unlikely to bottom until late next year or early 2005.

Wachovia also projects that the office recovery will be delayed due to slow and late job growth and the current sublease overhang. Southern California and southern Florida, however, remain strong for the most part, along with parts of the greater Washington, D.C., and Baltimore areas.


Acceptable Use Policy
blog comments powered by Disqus

Photo Galleries

New York's Star Deals

http://nreionline.com/images/nyc_big_deals_homepage_thumb.jpgThe city that never sleeps is also the city that never stops growing, not even in the midst of recession. And deals, both bold and unprecedented, continue to be done. Check out image of New York's big deals.

Hudson Yards Development

http://nreionline.com/photo_gallery/hudson_yardsCheck out images for Coach's new global headquarters, which will anchor the initial tower of the Eastern Rail Yards site within the 26-acre mixed-

Videos

JLL at ICSC 2012

http://nreionline.com/video/bjorson_thumbnail.jpgCheck out these videos from JLL at ICSC 2012 in Las Vegas...

 

Click here to view more videos.


Blogs


http://nreionline.com/blog/schein_blog_headshot.jpg

Real Vox

Traffic Court

The Full Nelson

Events

Strategic Real Estate Investment Conference

Date: Thursday, June 7, 2012
Time: 7:45AM-6:00PM
Place: 1290 Avenue of the America, 5th Floor
What: A full-day event exploring portfolio diversification through opportunistic and alternative investments....

Click here to view more events...

http://nreionline.com/nrei-300x125-house-091211-resourcebook-jpg.jpg

This Week's Most Popular

Current Issue

http://nreionline.com/april2012_cover.jpg

NREI Newsletters



Retail Traffic Newsletters

View NREI Newsletters

NREI Newsline
NREI Seniors Housing Finance and Development
NREI The Green Sheet
NREI Institutional Outlook
NREI Distressed Real Estate Strategies
NREI Daily/Central
NREI Daily/New York
NREI Daily/New Jersey
NREI Weekender
NREI Global Real Estate Monitor
REIT Insider
Retail Traffic Online
The Site Optimizer

Join the Conversation