REBusinessOnline

Healthcare Systems, Physicians are ‘More Sophisticated’ When it Comes to Real Estate, Says InterFace Healthcare Panel

CHARLOTTE, N.C. — Healthcare systems and physicians groups once viewed their real estate operations as a line item on a ledger and not as high a priority as staffing, education or equipment. In the years since reimbursements from Medicare began tightening as it went from a fee-for-service model to an outcome-based one, healthcare systems and physicians are getting more savvy when it comes to their real estate strategies. “With respect to real estate, healthcare systems used to be …

Competition Intense Among Real Estate Lenders, Says InterFace Carolinas Panel

CHARLOTTE, N.C. — Capital One Multifamily Finance’s Chad Thomas Hagwood kicked off with a fastball. When prompted with the often used “what inning are we in?” question, Hagwood’s response was indicative of how competitive commercial real estate lending is today. “I don’t know what inning we are in of the cycle, but I know I want to play ball,” says Hagwood, senior vice president of Capital One Multifamily Finance. “People are after it, and we intend to fight it out tooth …

‘Broadening’ Economy on Track for Longest Expansion Cycle in U.S. History, Says Wells Fargo’s Mark Vitner

CHARLOTTE, N.C. — It’s been nine years since the Great Recession ended, and if the economy can make it to June 2019 without suffering a relapse, it will be the longest business cycle in U.S. history. Mark Vitner, managing director and senior economist of Wells Fargo Securities, believes that will happen because of how broad-based the recovery has been. “For the most part, over the last nine months to a year all 50 states have been growing, which is something that hasn’t happened …

Creating a ‘Personal Experience’ is Key for Retail Landlords, Says CREC Partner

LAS VEGAS — The combination of significant population growth and a shortage of supply makes it an ideal time to develop retail projects in the South Florida market, according to Sabrina Stimming, director of retail leasing and partner at CREC, a full-service real estate firm. The population of Miami-Dade County was estimated at 2.75 million in 2017, up from 2.25 million in 2000, according to the U.S. Census Bureau. That’s a 22 percent increase over a 17-year period. However, stiff …

GSU Economist Urges Patience as Full Impact of Tax Cuts Ripples Through System

ATLANTA — With the full effect of the tax cuts yet to be felt, any talk of a recession is ultimately premature, according to Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University’s (GSU) J. Mack Robinson College of Business. Speaking at his quarterly economic forecast, which was held on Wednesday, May 23 at GSU’s Centennial Hall Auditorium, Dhawan said the impact of the Tax Cuts and Jobs Act signed into law by President Trump last December should take …

CBRE: U.S. Apartment Sector Gets Boost from Comprehensive Tax Reform

LOS ANGELES — The sweeping tax reform bill signed into law in late 2017 by President Donald Trump is expected to benefit the U.S. multifamily investment market, according to a new report from CBRE. The report states that under the Tax Cuts and Jobs Act, the tax benefits of renting over buying a home will increase in 29 of the 35 largest U.S. markets. That number is up from 15 markets before the tax reform. The new tax law increases the standard deduction from $12,700 to $24,000 for a …

Battle for Market Share: Leading Hotel Companies Expand Via Acquisitions, New Brands

ATLANTA — The world’s largest hotel company, Wyndham Hotel Group, made a splash in January when parent company Wyndham Worldwide Corp. purchased La Quinta’s franchise and management business for nearly $2 billion. Speaking at the 30th annual Hunter Hotel Conference in Atlanta Wednesday, Geoff Ballotti, president and CEO of Wyndham Hotel Group, spoke about how the acquisition has helped expand the company’s platform. “It is our 21st brand. We’re the company that operates more …

Multifamily Firms Targeting Charlotte, Raleigh Suburbs, Says InterFace Carolinas Panel

ATLANTA — Executives from some of the most active multifamily firms in the Southeast are honing in on the suburbs of Charlotte and Raleigh as they map out their long-term investment and development strategies. During the Carolinas panel at the eighth annual InterFace Multifamily Southeast conference, the panelists stated they’re preparing for a suburban shift as a large swath of the millennial renting cohort and downsizing baby boomers will be priced out of core submarkets. “There’s …

Projected Population, Job Growth Fuel Future of Atlanta’s Multifamily Market, Says InterFace Panel

ATLANTA — A surge in population and job growth in the Atlanta metropolitan area over the next two decades will bode well for the multifamily sector, according to panelists at the eighth annual InterFace Multifamily Southeast. Among the 12 largest metropolitan areas in the county, Atlanta ranked second in the rate of job growth and third in the number of jobs added, according to the Bureau of Labor Statistics (BLS). Total nonfarm employment for the Atlanta-Sandy Springs-Roswell …

Growing Smartly is a City’s Biggest Challenge, Says InterFace Keynote Speaker

ATLANTA — Tim Keane, City of Atlanta’s planning commissioner, is tasked with a monumental challenge facing many planners: how to practically design the future for a city on the cusp of a population boom. Citing the Atlanta Regional Commission, Keane said that the Atlanta metro area is on track to add 2.5 million people over the next 25 years, the equivalent of adding the entire metro Charlotte population. [caption id="attachment_192276" align="alignleft" width="300"] Tim Keane is a …

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