Any idea how low interest rates have to get for there to be another high rise boom? I know that construction loans are usually floating but is there like a target rate that investors are targeting?
Awesome, I signed up for their Accelerator program a while ago so will check that out. If there are any books you recommend, please let me know. I am about to start a new role that will be a hybrid of development and investment/acquisition. Relatively new to the industry but have a finance background.
Nothing beats learning on the job but books and classes can’t hurt. I personally recommend The Real Estate Game by William Poorvu to anyone getting started.
Other than that you’ll want to find books related to whatever you’re working on. For instance, I’m working on a lot of MF at the moment and recently suggested an intern read The Definitive Guide to Underwriting Multifamily Acquisitions by Robert Beardsley.
I wish I knew. But I do know the boom would be much bigger if interest rates were lower. There’s a lot in the planning stages that can’t start because of it.
fanofmaria@reddit
Knox street Travis st towers started too.
Sharp_Shot_@reddit
Any idea how low interest rates have to get for there to be another high rise boom? I know that construction loans are usually floating but is there like a target rate that investors are targeting?
Frothi23@reddit
Theres no magic number for the interest rate but a deal becomes viable in this market above a 6.5% yield.
Alexkono@reddit
What do you mean yield, like IRR?
Frothi23@reddit
Trended yield on cost
Alexkono@reddit
haven't heard that term, do you have any resources to learn more about it?
Frothi23@reddit
I bet there’s a ton out there! Here’s one I just pulled from Google.
https://www.adventuresincre.com/untrended-vs-trended/
A lot of good books out there on CRE as well
Alexkono@reddit
Awesome, I signed up for their Accelerator program a while ago so will check that out. If there are any books you recommend, please let me know. I am about to start a new role that will be a hybrid of development and investment/acquisition. Relatively new to the industry but have a finance background.
Frothi23@reddit
Nothing beats learning on the job but books and classes can’t hurt. I personally recommend The Real Estate Game by William Poorvu to anyone getting started.
Other than that you’ll want to find books related to whatever you’re working on. For instance, I’m working on a lot of MF at the moment and recently suggested an intern read The Definitive Guide to Underwriting Multifamily Acquisitions by Robert Beardsley.
Alexkono@reddit
thank you for the insight, i appreciate it!
Downtown-Fill618@reddit
Not anymore.
Frothi23@reddit
What are you seeing?
Sharp_Shot_@reddit
Interesting, thanks
Frothi23@reddit
Np, for context - 2 years ago deals were being made around the metroplex at 5.5%
dallaz95@reddit (OP)
I wish I knew. But I do know the boom would be much bigger if interest rates were lower. There’s a lot in the planning stages that can’t start because of it.
WaterIsNotWet19@reddit
Any plan for a tall building or continuing with these mid rises
reed17@reddit
Uptown Dallas has pretty strict building height limits due to the flight path of Love Field running directly over the buildings
DFWTexan@reddit
Goldman Sachs is building a high-rise next to the Perot museum where they tore down any evicted all those people out of their nice apartments
HoneyIShrunkMyNads@reddit
Tbh I'd rather they continue to build density than tall ass skyscrapers
dallaz95@reddit (OP)
High-rises. A mid-rise is a building between 5-12 stories. Yes, Downtown but it’s delayed because of high interest rates.
Pale-Succotash441@reddit
They’ve just started another high-rise off of McKinney, right next to Whole Foods.
dallaz95@reddit (OP)
Really? Is it 2626 McKinney?
dallascowboys93@reddit
It’s right where Jakes used to be across from Blackfrair
dallaz95@reddit (OP)
The McKinney + Boll project? I thought that was dead
dallascowboys93@reddit
I drove by there a day ago and saw construction so I assumed a high rise was coming
dallaz95@reddit (OP)
Thank for the info.
frenchezz@reddit
Would be cool if we had some more unique architecture in the city instead of another generic high rise.
214forever@reddit
23Springs has pretty great design that is far from generic. See the geometry and the varying floor size
JustRepeatAfterMe@reddit
There is a lot of great design work in Uptown, but nobody can see it unless they’re standing under it. Dallas needs a new legit energy efficient Tall.
dukeofdough@reddit
Just what Dallas needs. More empty buildings.
RTTCQBMAN@reddit
23 springs is 85% pre leased
Alexkono@reddit
Where do you find this data?
214forever@reddit
Think it’s more like 60% right now, but would not surprise me to see it hit 85% leased and quoting $100-$105 psf by the time it delivers next year.
dallaz95@reddit (OP)
Too bad they have tenants and one is a residential tower. There’s a demand for upscale office space in Uptown
jojoinc@reddit
620 Sq feet units going for $2000+ a month lookin ass bye
Right_Letterhead_120@reddit
All that effort and cost when you can and probably should be working from home.
Cansum1helpme@reddit
Hey I want a basement!!!!
kuro_fenrir@reddit
Can't wait until they're ready to move into.
Shortbuschopper@reddit
Big man buys it, we build it
Alt-account9876543@reddit
“Progress” - as we run out of water and abbot keeps approving oil & gas… when we have the land to be fully solar & wind
EcoMonkey@reddit
Do you prefer the older buildings with 1970s and 1980s level energy efficiency?
Enreekay@reddit
I’m confused. Is there any order to these?
dallaz95@reddit (OP)
It’s listed in order in the post I made. The glass building is 23Springs. 23Springs and 2811 Maple are next to each other.
dallaz95@reddit (OP)
These are NOT my pics, but I wanted to share them but you have to be a member on the forum to see them.
Full credit goes to axh0
The two projects that are visible
23Springs (399 ft) - link to forum pics
2811 Maple (372 ft) - link to forum pics
Goldman Sachs at NorthEnd - link to forum pics