RE:Scotia commentsThe bottom appears to have been in a short time ago. It looks like it might be smooth sailing from here, or perhaps even a rocket taking off.
1) Cap rates stabilizing in Q2. In addition, this has occured prior to improved forward interest rate environment perception...
2) Interest rates declining; helps with interest costs, but more importantly, facilitates desire and capability of asset transactions.
3) Talk of increasing occupancy. This comment was prevalent in several recent office REIT comments.
All this against the backdrop of near non existent new supply coming online. Along with a halt in new construction.
Perfect storm. Not hard to see.
GLTA