Biznow held a Capital Markets panel discussion yesterday and had a pretty good crowd of CRE executives. First up was the lender and banking perspective followed by executives from some local real estate firms. Larry Heard from Transwestern once again seemed to be able to convey the sentiment of many that Houston should be able to recover nicely but when is still the issue. With the BP disaster it looks as though chances of Houston recovering before the rest of the country are now slim. He feels foreclosures will extend through 2013, cap rates are going down, pointing to a DC office property that went at a 5 cap and he likes Industrial prospects in Houston.
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