Dorothy Jackman is Executive Managing Director at Colliers International
SHB: What are you spending most of your time on right now?
Dorothy Jackman: Staying in touch with clients, listening to webinars and keeping our underwriting on deals up to date so that we are prepared when the environment is more stable for transactions.
SHB: Are any transactions still moving forward? If so, how do you make that happen?
Dorothy Jackman: Yes, transactions for assets that are tracking at a strong occupancy and located in markets where universities have announced in-class openings are moving forward.
SHB: What will it take for the investment market to "snap back" once we are through the worst of this situation?
Dorothy Jackman: The capital markets have to become more favorable, and occupancies and rates have to be established for Fall 2020-Winter/Spring 2021.
SHB: What is your advice to prospective buyers and sellers in the marketplace?
Dorothy Jackman: Buyers shouldn’t expect a great deal of distress, and should analyze deals without much discount based on the pandemic. Sellers need to be realistic in pricing expectations, given that rent growth this year was not typical. Both buyers and sellers have to underwrite value based on the newest loan dynamics, which can affect returns for investors.
SHB: And on a personal level, what is the one thing you most look forward to doing once we get past this pandemic and life/society get back to "normal?"
Dorothy Jackman: I think you want me to say "to go to a conference!" Honestly, simple pleasures like a great dinner out and more time with friends and family. And, throwing out all my masks!