Slate Dunmore

CRE Enthusiast

[Slate Dunmore @SlateDunmore]

NYC market rate rents are ripping. Thanks Mamdani.

[Slate Dunmore @SlateDunmore]

Blackstone facing foreclosure on a multi deal in DFW.

Yet somehow only syndicators get treated like frauds when a deal goes sideways.

[Slate Dunmore @SlateDunmore]

Wild how much leverage is in the system. Deals are individually levered, funds level leverage, debt has back leverage. Even the back leverage has back leverage.

[Slate Dunmore @SlateDunmore]

My coworkers who have never watched soccer until 6 weeks ago can stop acting like they are huge soccer fans now.

[Slate Dunmore @SlateDunmore]

La Cabra, still undefeated.

[Slate Dunmore @SlateDunmore]

These syndicators deserve the scrutiny.

So do the investors writing 6-figure checks afer listening to one podcast and watching a webinar.

[Slate Dunmore @SlateDunmore]

Biggest takeaway from the S2 saga:

Being the GP is much better business than being an LP.

[Slate Dunmore @SlateDunmore]

The best IC discussions aren't about why a deal will work.

They're about why it won't.

[Slate Dunmore @SlateDunmore]

@texasrunnerDFW Love the style but wish they actually had backyards. Who was the developer and the builder(s)?

[Slate Dunmore @SlateDunmore]

@LPWhisperer Interested

[Slate Dunmore @SlateDunmore]

@callicrates_ Lol what conference is even going on right now?

[Slate Dunmore @SlateDunmore]

@OmarMora1es A bit surprising for a 2019 deal. Would’ve thought rent growth over the past few years would’ve offset rate increases

[Slate Dunmore @SlateDunmore]

You aren’t going to get a screaming deal on the well-located value add multi deal that was overlevered with floating rate debt. Too much capital chasing opportunities like that.

[Slate Dunmore @SlateDunmore]

Investors like the idea of distressed real estate until they actually see it. There has been a lot of opportunity to purchase distressed deals over the last several years in retail (specifically malls), hotels, office, but very few groups have looked at buying.

[Slate Dunmore @SlateDunmore]

Distress in CRE takes a lot longer to play out than most people realize. Loan workout negotiations, maturity extensions, etc can take years. I know of mall loans that matured in the 2015 range that still haven’t been resolved. Still some unresolved loans from the GFC as well.

[Slate Dunmore @SlateDunmore]

I wonder exactly how much the rise of AirBnb has contributed to the housing shortage over the past few years. A lot of units have been taken offline from for sale and rental housing.

[Slate Dunmore @SlateDunmore]

@CaseyMericle Great thread, very interesting although I wouldn’t say this is an accurate representation of all brokers. The best brokers that list high quality deals aren’t posting on Loopnet. I think if you sent that same email in response to email blasts your results would be a lot different

[Slate Dunmore @SlateDunmore]

@fefemon96 @Cribdilla His argument was that the amount of capital chasing deals has more correlation to cap rates than interest rates do and that there is still significant dry powder for deals, therefore cap rates wouldn’t rise.

[Slate Dunmore @SlateDunmore]

I think there’s opportunity for some good deals in LA over the next couple of months before the City Transfer Tax goes into effect on 4/1. Sellers who want to sell or are forced to sell now will want to close by April.

[Slate Dunmore @SlateDunmore]

@creromans Agree. Could care less if your business card says Eastdil or M&M