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Explore more posts
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Hoya Capital
Rates Rise • REITweek Updates • Hotel M&A REIT Daily Recap: https://lnkd.in/ewH-aJ5e One of several REITs to publish a business update ahead of the REITweek industry conference in the week ahead, Equity Residential (EQR) slipped 2% today despite providing an encouraging business update ahead of its REITweek presentation next week showing a continued rebound in multifamily fundamentals in early 2024. $EQR notched blended rent growth of 2.9% in May - up from 1.6% in Q1 and 0.8% in Q4 - comprised of buoyant mid-single digit renewal rent growth (+5.0%) and marginally positive new lease rates (0.4%). In the updated deck, EQR noted that expects to deliver full-year FFO and NOI that are "towards the higher end" of its existing guidance ranges, citing sustained high demand, pricing power in East Coast markets, and lower-than-anticipated expense growth. Apartment REITs were among the Winners of REIT Earnings Season, as five of the eleven REITs that provide full-year FFO guidance raised their outlook - led by coastal-focused REITs - while the remaining six maintained their prior outlook.
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Greystar
In 2023, the real estate industry faced uncertainty. Now, stability is on the horizon. Greystar's Chief Investment Officer, Wes Fuller, discussed this shift in a recent conversation with PERE. He emphasized new opportunities in Europe's multifamily market, potential growth in student housing, and the ongoing innovation taking place across purpose-built, single-family rentals. Read more: https://bit.ly/4b7gwXc #Greystar #RealEstate #Investment #MarketTrends
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Altus Group
Over the next couple of weeks, the balance of publicly traded REITs in the US will be reporting their results and hosting their earnings calls. Listen to our latest episode of #CREexchange Podcast, where we take you through some of the more interesting updates we've heard so far from REIT earnings calls, sector by sector. Tune in for more: https://lnkd.in/gmFGx-Ev #CommercialRealEstate #CRE #RealEstate
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Colliers
Anjee Solanki sat down for an interview with CoStar News on-site at #ICSCLasVegas to discuss the future of consumer spending in America. In the interview with Tony Wilbert, Anjee shares her perspective on how higher wages will boost consumer spending throughout 2024, driving retail sales growth to slightly outpace last year. Discover Anjee's key insights in the full interview, available here: https://ow.ly/siZI50ROkp4
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CoStar Risk Analytics
CRE DISTRESSED SALES • According to CoStar data, distressed sales as share of total transaction volume picked up in 2023, increasing 1.2 percentage points. Overall, distress sales are 4.7% of total CRE transactions, their highest level since 2016, although well below financial crisis peaks. • The increase is almost entirely driven by Office distress sales, which rose to roughly 9%, up 3 percentage points from 2022. Increasing vacancy rates, mixed with high interest rates and declining values, have put pressure on office properties, and borrowers that are struggling to refinance at maturity. • The increase in distressed sales largely reflects what’s happening within CRE debt. In 2023, the non-Agency CMBS non-performing rate increased by 1.21 percentage points, with 90% of the increase coming from Office deals. Both distress and default in office are coming at maturity, with 53% of the increase in the overall non-agency CMBS non-performing rate in 2023 due to Office maturity defaults. ➡ Act sooner than later! Learn how we can help you manage risks and opportunities in your CRE portfolio > https://lnkd.in/eS4rK5XD #distressedsales #cre #banks #lenders Joseph Biasi Christiane Figueiredo Mendes, MBA John Vecchione Travis Fisher Scott Bell Xiaojing Li
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OMS Strategic Advisors, LLC
Navigating the Current Landscape of Commercial Real Estate: A Time for Strategic Decision-Making As the commercial real estate market continues to adjust to elevated interest rates, Jon Gray, President of Blackstone Group, suggests that prices may be nearing a floor. However, with foreclosures rising—reaching the highest March levels since 2015 according to ATTOM Data Solutions—it's clear that challenges persist, particularly in the office sector where vacancies are exacerbated by ongoing remote work trends. At OMS Strategic Advisors, we see this as a critical moment for seasoned professionals to guide strategic decision-making. The market presents both challenges and opportunities, and understanding the nuances of each sector is more crucial than ever. This environment demands more than just reacting to trends; it requires a proactive, informed approach to navigate effectively. For those considering entering the market or reassessing their current portfolios, it's essential to engage with experts who are not only versed in navigating these fluctuations but also equipped with robust data and a deep understanding of the evolving landscape. To learn more about how OMS leverages its expertise to support our clients through these turbulent times, connect with us or follow our updates here on LinkedIn. Full article here: https://lnkd.in/eVqPxXxt
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Velocity Retail Group
Single-Tenant Net-Lease: The Backbone of Steady Performance in CRE In a dynamic commercial real estate landscape, single-tenant net-lease properties have proven to be remarkably resilient. Marcus & Millichap highlight that as of March 2024, major U.S. markets have maintained sub-4% vacancy rates, a stability that echoes five years ago. What's driving this impressive performance? • Strong Labor Market: Boosting retail spending beyond inflation • Real Wage Increases: Giving consumers more disposable income A new benchmark for core retail sales was set in Q1 2024, despite households prioritizing essentials. More people are spending on dining out and experiences, increasing foot traffic and patronage at net-leased retail spaces. Highlights: • Fast food, convenience stores, and restaurants report sub-3% vacancy rates • Primary, secondary, and tertiary markets show vacancies at 4.6%, 4.3%, and 3.5% respectively. This market tightness benefits owners in lease renewals and securing new tenants. Local and regional banks remain primary financing resources, supported by strong sector fundamentals. Among the 50 major U.S. retail markets, 34 have single-tenant vacancy rates at least 100 basis points below their long-term mean, with notable performance in the Midwest, South, and Texas metros. Single-tenant net-lease properties continue to demonstrate their strength and stability, making them a cornerstone of commercial real estate. Read the article: https://lnkd.in/eBWShGBw #CRE #RetailTrends #NetLease #CommercialRealEstate #MarketTrends #RealEstateInvesting
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Diamond Lane Partners, LLC.
Shifting Sands in Real Estate Investment 📉📈 Recent data from CoStar highlights a notable shift in REIT acquisition trends over the past five years. As we move past the pandemic, there's been a clear pivot from traditional office spaces and multifamily properties to more specialized and retail real estate. Trend Insights: Office property purchases by REITs dropped from 23% in 2019 to 17% last year. Multifamily investments halved from 13% to just 6%. Meanwhile, specialty properties, including data centers and self-storage, have tripled their share to 20%. Retail properties have seen a jump, now representing 25% of acquisitions, up from 17%. According to Nicole Funari from Nareit, "REITs and active managers are diversifying their portfolios by leaning into sectors that underpin the modern economy." This strategy not only enhances portfolio diversity but also aligns with evolving economic demands. As the landscape of real estate investment adapts, so too must our strategies. How are you adjusting your investment focus in response to these changes? #RealEstateInvestment #REITs #PropertyTrends #EconomicShifts #Nareit #CoStarGroup #InvestmentStrategy #DiamondLanePartners
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Ken Morris, SIOR
As the industrial market slows down it isn't surprising to see Prologis forecast less demand as vacancy rates begin climbing nationally. The industrial market saw unprecedented rent growth since the start of the pandemic but that was an unusual set of circumstances unlikely to be completed. Overall, the industrial market is healthy and not overbuilt in most markets. Here in South Florida we have a wave of new product delivering over the next few quarters which will push the average vacancy rate a little higher and even though deal velocity has slowed, the long term demand for industrial space is more than likely. #JLLindustrial #warehousing #logisticsproperties
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Community First Commercial Real Estate
Commercial Real Estate Is a Slow Burn,' Says Bank of America CEO Moynihan https://lnkd.in/gjNA44sK Three CRE Executives. Three Vastly Different Views of CRE https://lnkd.in/gFaS3Wqz Bill Rudin on state of commercial real estate, industry challenges and impact of high rates https://lnkd.in/g_e8zW4J Giants split on state of US commercial property market https://lnkd.in/gpEkP-Sa Opinion: I’m Still Feeling the Commercial Real Estate’s Interest Rate Hangover https://lnkd.in/gye5aZje
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Landon Williams, SIOR, CCIM - Capital Markets Advisor
Family offices are making waves in the CRE capital markets! This article by Brian Pascus gives the most thorough snapshot of the recent and current activity of family offices in CRE. I strongly urge my network to read the entirety of the article which includes contributions from a fantastic group of experts. “Every time the market is bottoming out, it would appear to be the most opportune time to buy, and the buying wave is always started by high-net-worth individuals and families,” said Bob Knakal. “What we’re seeing today is that the investment wave is, yet again, being led by high-net-worth families.” Since March of 2022 (the start of interest rate hikes), the majority of my team's deals have been bought by family offices with either 100% cash or bank financing from a bank where they have deposits. #InvestmentSales, #CapitalMarkets, #CommercialRealEstate, #CRE, #RealEstateInvestment; Brian C. Adams, Kevin Aussef, Zach Redding, Nicco Lupo, David Perlman, Jay Neveloff, Dan Berman, Ran Eliasaf, Richard Byrne https://lnkd.in/egMJRSc3
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Värde Partners
Värde Partners Head of Real Estate Lending, James E. Dunbar, spoke with PERE Credit for a keynote interview discussing opportunities and trends in commercial real estate lending. Jim outlines the macro forces converging to reshape the CRE finance landscape, the sectors Värde finds most compelling today and the role CRE debt plays in investors’ portfolios. Värde was an early mover in the post-GFC world of non-bank lending, establishing a loan origination platform, which today has originated over $7 billion, and acquiring asset management and servicing firm Trimont. Looking ahead, we believe we are at an inflection point with a second key phase of the opportunity in front of us. Link: https://lnkd.in/dQABVAKQ #RealEstate #CommercialRealEstate #CRElending
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CompStak®
Last week, we sat down with Alison Baumann, Director of Real Estate Intelligence at CompStak®, and Mark Russo, Vice President of Industrial Research at Savills, to explore notable market shifts following the cooling of the previously white-hot industrial sector. Report highlights we covered: 📊 Effective rent growth by Major Markets 🏢 Vacancy rates in Major Markets on the upswing 🌴 What’s happening in Greater Los Angeles + we answered your questions. 👀 🎥 Watch the recap: https://hubs.ly/Q02tZjpt0 #industrialrealestate #commercialrealestate #realestate #webinar Savills North America Savills Industrial & Logistics
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Patron Capital
Our MD Keith Breslauer was interviewed for this Institutional Real Estate, Inc. article, discussing recent changes in the real estate landscape, which have created a window for opportunistic funds. Read the article here: https://lnkd.in/eeK5JZ9J #opportunisticfunds #opportunisticstrategies #fundmanagement #investmentstrategy #valueadd #IREI
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Brian Milovich
Nadeem Meghji, global co-head of Blackstone Real Estate, recently said in a WSJ article that the current market is comparable to late 2009 and 2010 when most of the news in commercial real estate was awful. “That was the opportune time for us to be doubling down,” he said. It's tough to be greedy when others are fearful. A few things give us hope: 1. Wage growth is outpacing rent growth. So much so that all of the inflationary rent increases may be wiped out soon, from a % of income standpoint. 2. The historic supply surge is peaking and rents should be leveling off. 3. With interest rates high, construction costs up, and rents not high enough, there's going to be a real lack of supply in 2026 and beyond. This sets the table for an apartment comeback.
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EXPANSIVE
Andrea Pirrotti-Dranchak (MBA), Expansive's Managing Director, recently sat down with Sarah Maffei (Momberg), Vice President at Foundry Commercial, to discuss the evolution of commercial real estate needs and strategies that are used to ensure both immediate and long-term objectives of businesses are met when considering all of the workspace options available today. "Before COVID commercial real estate was simpler. Typically, you’d calculate your space based on headcount. Now, it’s not about having a desk for every person and enough room for private offices. It’s more about collaborative spaces. Some still want a dedicated desk, but most people come to the office to work together. So, offices are focusing more on shared spaces rather than individual offices, which used to be the norm." Click the link to check out the full article, as well as the full video interview for more insights ➡️ https://hubs.la/Q02yJGNh0 #flexiblework #futureofwork #workplaceinsights
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RISMedia
🔑 New Exclusive Report: Proven Techniques for Dominating Real Estate Comparables Analysis 🔑 Are you looking to elevate your real estate game? Understanding and mastering real estate comps is essential. Here are some takeaways from our latest report to help you excel: 🏡 Comps should include house age, number of rooms, lot size and topography, condition, square footage, location on block, number of bedrooms, number of bathrooms, neighborhood amenities, school district and taxes. 📝 There’s no such thing as a generic comp when it comes to real estate, unlike buying or selling a car, where condition is everything but location means nothing. 🏙️Urban and rural comps can have very different musts, with, for example, parking crucial for urban and open spaces vital for suburban, with each unimportant for the other. 📍Comp “flaws” can be minor or major, with location often being major. Two homes can be practically identical, but one may be at the end of a quiet cul-de-sac while the other has a highway across the street. 🤝Exaggerated comp claims such as a large closet called a bedroom can be negated by visiting the houses before sharing information with clients. Read the latest exclusive RISMedia Premier report to learn from experienced real estate professionals as they detail the tools they use and strategies they employ to create comps that produce sales: https://bit.ly/45h9jlz Not a Premier member? Use code SAVE50 at checkout to save $50 off an annual membership: https://bit.ly/3Xk48iB #RealEstate #RealEstateInvesting #MarketAnalysis #PropertyInvestment #RealEstateComps
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