This is something I have not seen in a long while. Jordan Crouch reports that most lenders are putting a "floor" on loans in the 6-6.25% range. So, no matter how low 10-year T-Bills (or, presumably, LIBOR, which is what I am usually seeing quoted these days) go, rates will not follow. Jordan does not see any sign of a bottom yet.
What pickup I am seeing is on smaller deals. Portfolios? Not much at all, although there was this story about a 22-property industrial deal that closed the other day in town. I've dealt with the buyer, TA Associates, before. They are very good investors and leave no stone unturned when doing a deal. And they bought at a cap rate of 6.5%, which is right around market.
Sometimes portfolio deals bother me just because of the risks involved. That being said, I've done my share as a lawyer and the complexity of it all can be a lot of fun and good for your billings!
