Commercial Investment Real Estate November/December 2018 | Page 34

CIRE: What’s the key to being involved in big deals?
Adamski: The key is your reputation, experience,
and skills accumulated over many years in the business. A
large real estate transaction is something most companies
don’t undertake often, but when they do, they must know
they’re in good hands. Cheney: Hopefully, a lot for us. Brokers with good
resources and strong relationships will continue to be the
ones closing big deals.
Rasmussen: Relationships, experience, trust, and
hard work. Adams: Commercial real estate in the U.S. and
Canada continues to be an attractive asset class for both
domestic and foreign investors. I expect this to continue far
into the future, tempered by occasional market corrections.
Jones: Developing long-term client relationships,
performing consistently at the highest levels of integrity and
market knowledge, and promoting your presence in the
market along the way.
Cheney: Prospecting and maintaining a full pipe-
line. Transaction volume opens doors and gets you in front
of deals you wouldn’t hear about otherwise. Our team lives
in the market — not just owning property, but also under-
standing the nuances of it. You can send as many emails as
you want, but you won’t get in any deals if you’re not in the
market every day.
Adams: Be prepared, know your market and prod-
uct type, and don’t be intimidated by the number of zeros
in the size of a transaction.
Merin: Always circle back to the basics — be the
most knowledgeable broker in your market, give advice, get
published, stay active in your market, and work your
CCIM connections.
CIRE: What does the future
hold for closing big deals?
Total Deals Reported
in 2018 Deal Makers
# of Deals
Type
Total
67 Office 33 Multifamily $383.2 million
28 Retail $304.1 million
18 Industrial $205.2 million
23 Land $193.2 million
9 Specialty $138.3 million
14 Hospitality $89.4 million
7 Financing $76.1 million
6 Mixed-Use $38.6 million
205 Total Deals $2.6 billion
32
bigger deals. I expect these economics to continue a similar
path for another 18 to 24 months.
$1.1 billion
November | December 2018
Adamski: Greater and
more rapid complexity is certain,
so top practitioners must be nimble
and comfortable navigating a fast-
paced environment, while aggre-
gating multiple specialties and
services on behalf of the client.
Rasmussen: There is
always opportunity to close large
transactions with creative dealmak-
ing and superior client service.
Jones: The growth of the
market, coupled with the increased
size of the investors buying in the
market, will continue to drive
Merin: There will always be big deals. The more
you complete, the more you will have the opportunity
to handle.
CIRE: How has your CCIM training prepared you for
closing big deals?
Adamski: CCIM training is a must, as it provides
both the fundamental and advanced skills required to oper-
ate at the highest levels of our industry.
Rasmussen: Networking within CCIM and the
resulting relationships have provided a great foundation for
working on larger investment transactions. It’s also provided
a solid understanding of investment analysis and decision-
making, which is invaluable in creating value for clients.
Jones: The CCIM education program provided a
solid foundation for the economics of commercial real
estate. Networking within my local chapter, as well as
nationally, has been a tremendous benefit to building long-
term relationships.
Cheney: Training provided confidence, exposure
to other CCIMs working on relevant deals, and credibility
with clients when they see the CCIM designation by
my name.
Adams: The CCIM designation gives me the
ability and confidence to successfully tackle transactions
of all sizes.
Merin: CCIM classes taught me how to speak the
language of returns, yields, and risks with capital providers,
and communicate with buyers and sellers the optimal time
for a sale or purchase. However, all that learning needs to
be put into practice daily. Never stop learning — that is the
key to doing bigger deals!
Larry Guthrie is director of communications for
CCIM Institute.
COMMERCIAL INVESTMENT REAL ESTATE