Sue Carras
Sue Carras
Senior Managing Director at JLL
Since joining JLL following the brokerage firm’s acquisition of HFF in 2019, Sue Carras has facilitated a number of debt transactions throughout the Beltway region amid market challenges posed by the COVID-19 pandemic.
JLL’s origination volume in the D.C. metropolitan area recovered in 2021 to better than 2019 levels, with the brokerage closing more than $5 billion in financings in 80 debt and equity transactions from 50 different capital providers.
“We had a very strong year; [along] with the best of our old clients we’re continually adding new clients,” Carras said. “We’re always growing and now have the largest team we have ever had.”
Carras’ expanded team was mostly focused on multifamily and industrial deals during the past year given the strong fundamentals in both sectors in terms of demand and rent growth. JLL closed a number of industrial transactions in Maryland related to regional transportation infrastructure, beginning with the Port of Baltimore. JLL also proved nimble in expanding into more asset classes, like life sciences, data centers and affordable housing.
“We have a lot of expertise across all the product types right now, which has been great,” Carras said. “We benefit from being part of a unique network at JLL. The level of communication among the capital markets people at JLL is second to none.”
Looking forward, Carras is bullish on the D.C. market in a rising interest rate environment given the area’s “counter-cyclical” economy led by the federal government. Then there’s the thriving cloud computing and life sciences industries, as well as Amazon’s new second headquarters in Northern Virginia. Finally, the region boasts strong higher education institutions and a transportation infrastructure that links key commercial real estate assets.
So Carras does not see lending activity across the Beltway slowing down.
“We have three major airports, and vehicular and rail systems that are second to none,” Carras said. “We have a whole host of HOT lanes and HOV lane connectors that have been built over the last 10 to 15 years, so it’s all coming to fruition now.”
