March Madness: Slight Uptick in Activity
 In spite of economic uncertainty, the month of March heralded a slight increase in activity on Capital Pacific properties. The boost in activity resulted in multiple offers, with a handful of properties moving into contract.Was it the gradual thawing of the finance markets, or additional detail on bank bailout plans from the federal government? The warming spring weather...? The uptick is more likely due to a slight increase in investor confidence. Cap rates have begun to move, and buyer and seller expectations are slowly aligning. Average closing cap rates were approximately 7.3% at the end of February, compared to 6.25% at the beginning of 2008, according to data from Real Capital Analytics. |