REBusinessOnline

It’s the Ideal Time to Buy in Houston Multifamily Market, Says InterFace Panel

HOUSTON — After several years of sluggish rent growth, heavy concessions and tepid absorption brought on by the oil slump, investors are returning to Houston’s multifamily market with quite a bang. Rent growth and absorption were particularly weak in the city’s Class A multifamily space over the past few years. But with oil prices stabilizing (currently at about $68 per barrel of West Texas intermediate crude) and overall population growth still booming, multifamily investors are …

Assessors Should Weigh Myriad of Factors When Determining Fair Market Value of Green Buildings

A growing number of commercial properties incorporate efficient attributes that exceed basic code requirements. While conserving resources, these sustainable building strategies can also enhance the owner’s bottom line by reducing operating costs. As investors consider developing or buying green properties in certain markets, though, they should consider a less obvious source of savings — their property tax bills. No single set of attributes defines a green building. Instead, …

Six Critical Things to Get Right in an Office Renovation

PLAINFIELD, ILL. — Buoyed by a strengthening economy, more companies have the resources to invest in office redesigns. That is good news — a well-designed office renovation can transform an existing workspace into a dynamic, energy-efficient nerve center for staff. If properly carried out by a skilled contractor, an office renovation can optimize employee productivity and craft an effective work environment. [caption id="attachment_201442" align="alignright" width="100"] Zara Johnson, …

Continued Industry Growth, High Investor Interest Lift Student Housing Sector

AUSTIN, TEXAS — Sunny skies continue to be the forecast for the student housing sector, with investor interest in this property niche continuing to increase, more institutional capital flooding into the space and a continued demand seen for new development. Each of these points of growth was highlighted extensively during last week’s InterFace Student Housing conference in Austin. The conference’s first general session, titled “The Power Panel,” brought together a consortium of …

Researchers Discuss Hiring Trends, Interest Rates and Tariffs After Tepid Jobs Report for March

WASHINGTON, D.C. — U.S. employers have added to their payrolls for 90 straight months, extending the longest continuous jobs expansion on record, according to The Wall Street Journal. Still, the latest employment report from the Bureau of Labor Statistics (BLS) fell far short of expectations. Total nonfarm payroll employment rose by 103,000 in March, while unemployment held steady at 4.1 percent, the BLS reported last Friday, April 6. Wall Street economists had expected an increase of about …

A Property’s Obsolescence Can Be a Big Factor in Tax Appeals

It’s critical for owners to identify both economic and functional obsolescence in order to fight unfair property tax assessments. New technologies, shifting markets and aging buildings can drive economic obsolescence across entire industries. Equally important for the taxpayer, these factors also affect individual property values from a functionality perspective. Understanding both economic and functional obsolescence is essential to properly evaluate tax assessments for …

U.S. Office Vacancy Rate Creeps Up In First Quarter Despite Strong Absorption

NEW YORK CITY — Despite a variety of tailwinds buoying the U.S. office sector, vacancy sill increased 10 basis points in the first quarter of 2018, according to New York-based commercial real estate data firm Reis. Across the 79 major metros tracked by Reis, office vacancy rose to 16.5 percent at the end of the quarter. That’s up from 16.4 percent at the end of the previous quarter and 16.3 percent one year earlier. The vacancy increase came about during a quarter that featured a …

Strong Economy Propels Hotel Industry Forward, But Construction Lenders Remain Cautious

ATLANTA — Despite possible headwinds from Capitol Hill, the hospitality industry is poised for a healthy 2018. The combination of a strong economy, tax cuts and rising consumer confidence is boosting demand for hotels across the country. Meanwhile, lenders are tightening their purse strings when it comes to new development, leaving hoteliers confident that the industry is on solid footing. Those points were among the big takeaways stemming from two separate panel discussions held last …

This Will Be Record Year for Hotel RevPar, Occupancy, Says STR’s Freitag

ATLANTA — American hotels posted record levels of revenue per available room (RevPAR) and occupancy in 2017. According to one industry researcher who recently spoke at a national hotel conference, 2018 is shaping up to be even better. Jan Freitag, senior vice president of lodging insights at Tennessee-based research firm STR, was the first panelist to deliver a “state of the union” presentation at the Hunter Hotel Conference. The event drew 1,700 industry experts to downtown Atlanta …

NIC: Collaboration is the Future of Seniors Housing

The future of seniors housing is dependent on collaboration and cooperation between all the stakeholders in the industry, particularly operators and “senior care enablers,” according to Brian Jurutka, president and CEO of the National Investment Center for Seniors Housing & Care (NIC). The comments came during a question-and-answer session moderated by Mary Ann Donaghy, NIC’s chief marketing and communications officer, at the organization’s Spring Investment Forum, held March 7 …