Reason for Lending Optimism Arises From COVID-19 Ashes

DALLAS–Yes, the COVID-19 pandemic wreaked havoc on commercial real estate, with virtually no product type escaped unscathed. And while the greater economy took a hit, the recession was purely a reaction to imposed shutdowns. Therein lies the hope for not just the real estate industry, but the overall economic picture as well, says Justin Wilbur, SVP of KeyBank Real Estate Capital’s Central region. “Since the real estate fundamentals were there at the start of 2020, once the pandemic is largely behind us, I hope to see a sharp turn toward growth,” he tells Admittedly, he adds that the impact will still be felt going into the new year. He notes that the Central region of the US sustained lending activity better than did the coasts. “The Texas markets specifically are seeing multifamily construction and acquisition move forward,” he says, and this has had a ripple effect, which is “carrying over to some of the surrounding states, which is a good sign.” That’s not to say volumes are keeping pace with that of last year. Wilbur says that even the Central markets have seen the impact the slowdown has had on sectors such as hospitality and retailOffice and industrial, while affected less severely, have also felt the pinch. Click to read more at