Insider asked Kalil and Co’s Max Drachman to talk about the current out of home deal market.

Max, are deals getting done? 

Yep.  We closed one deal ten days ago, and have two more slated to close by the end of the month.  Deal flow is better in certain areas of the country, and we are still busy.  We still have more buyers than sellers.

What kinds of buyers?  Seems like OUTFRONT, Lamar and Clear Channel Outdoor have announced pauses in acquisition activities.

Most operators are still buyers for the right opportunity.  The above three are more selective now than they were a couple of months ago, but if the right deal popped up, I’m confident they would relax their self-imposed acquisition slow down.  I believe some people expected there to be a lot of sellers when we hit the next recession, but the irony is we have been engaged by more buyers looking to acquire (and in a few instances, we can’t find anyone within their footprint that will sell!).

How are you advising clients right now?

Depends on the client, but there is still plenty of action out there.  During times of uncertainty there are always groups that come out and preach doom and gloom, but the majority of the players remain bullish and won’t make long term decisions based on short term dynamics.  The buyers that are successful in acquiring assets today are typically the same buyers that see value when times are good.  On the sell side, we have clients that wanted to sell at the dawn of the pandemic that have decided to hold for a couple of months, which is probably a safe move.  That said, the clients we have that elected to forge ahead are still getting offers and we are putting deals together.

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