Conference Coverage

Low Interest Rates, Favorable Demographics Set Real Estate Industry Up to Win, Says Nadji

by John Nelson April 30, 2019

What is the economic outlook for the year, and what does that mean for the student housing industry? Hessam Nadji, president and CEO of Marcus & Millichap/Institutional Property Advisors, answered just that in the keynote speech that kicked off the 2019 InterFace Student Housing Conference, which was held in Austin earlier this month and drew approximately 1,400 attendees. Nadji began by laying out the basics on where the industry is today economically in comparison to before and during The Great Recession. “We’ve added 21 million jobs since the bottom of The Great Recession, and that has caused a 120 basis point reduction in the unemployment rate at a time when inflation is 200 basis points below where we were in 2007,” he says. “That is the crux of why everything in our industry as a whole — commercial real estate, and student housing in particular — has done so well. The combination of really good growth with very little inflation, and therefore low interest rates. “We have 7.6 million job openings today,” continues Nadji. “That is a record number of employers looking for qualified employees and about one-third of those employers are having a hard time finding qualified workers. That …

April 30, 2019

Conference Coverage Features Multifamily Student Housing

InterFace Student Housing Panel Talks Living-Learning Communities, Investment Trends

by Alex Tostado April 11, 2019

AUSTIN, TEXAS — The concept of living-learning communities, wherein students take advantage of a property’s location and amenities to share academic and personal experiences, is growing in popularity in the student housing industry. As the property sector matures and more student housing communities become outdated, developers are finding success with new projects that capture both the living and learning sides of the college experience. This trend is visible at both on- and off-campus properties. The subject of living-learning communities was raised during the opening Power Panel at the 2019 Interface Student Housing Conference. The three-day event, which took place from April 8-10 at the JW Marriott Hotel in Austin, Texas, drew approximately 1,400 attendees. Bill Bayless, CEO of American Campus Communities (ACC), an Austin-based REIT, kicked off the discussion of living-learning communities by noting that, in general, America’s inventory of student housing product is aging, and not like a fine wine. “The average age of on-campus housing at universities across the United States is 53 years old,” said Bayless. “What continues to be one of the greatest opportunities in the space is the replacement of outdated on-campus student housing with living-learning communities on campus that are fully immersive.” Bayless was joined …

April 11, 2019

Conference Coverage Features Retail Western Western Feature Archive

Key to Successful Retail? Know your Community, Says InterFace San Diego Panel

by Amy Works March 27, 2019

Being in tune with one’s self is always a positive thing — and San Diego seems to thrive at this. The county has such a keen sense of awareness that it even boasts a Self-Realization Center up in Encinitas. Knowing one’s identity extends beyond the spiritual world in this part of California, however. It is also a prudent retail strategy, as panelists at InterFace Conference Group’s San Diego Retail Conference, held March 19 at the Sheraton Hotel & Marina, attested. For retailers and shopping center owners, self-realization centers around your brand’s message. What’s your history? What are your core values? What story are you trying to tell, and what lifestyle are you trying to sell? These answers are important, as they will likely determine your physical location and potential success with that San Diego consumer. This, naturally, also means that retailers and shopping center owners must be just as knowledgeable about their consumer and submarkets as the consumers are about themselves. “We have to go back to the fundamentals that every property is different, every submarket is different,” said Pat Donahue, chairman and CEO of Donahue Schriber and a developer panelist. “We’re in a world where mall operators wanted to …

March 27, 2019

Conference Coverage Features Multifamily Seniors Housing Western Western Feature Archive

Has Seniors Housing Gone ‘Mainstream?’ InterFace Panelists Weigh In

by Kristin Harlow March 26, 2019

LOS ANGELES — Seniors housing has generally been considered a niche asset class with niche residents. After all, there are age restrictions, finite timelines for most residents, third-party advocates (namely, the senior’s family), elevated rental rates, highly trained operators, a limited selection of amenities and oftentimes residents with special needs. None of the above has changed in recent years. What has changed, however, is the onslaught of Baby Boomers inching toward that stage in life where seniors housing services can accommodate their growing needs. What has also changed is the larger investment community’s perception of this product type and its potential, noted Investment Market Update panelists at InterFace Conference Group’s Seniors Housing West event, held March 7 at the Omni Los Angeles. The amount of capital chasing deals was a theme throughout the day-long conference, with numerous speakers noting there just isn’t enough supply to keep up with demand. “Seniors housing and skilled nursing has all this capital chasing it because it’s suddenly not an alternative asset class,” said Talya Nevo-Hacohen, CIO of Sabra Healthcare REIT. “The perception is that this is suddenly mainstream.” Panelists expressed concerns that this sudden interest may entice the wrong type of investors — and …

March 26, 2019

Conference Coverage Multifamily Western Western Feature Archive

InterFace Panel: San Diego Leaves Multifamily Investors Wanting More

by Amy Works March 22, 2019

SAN DIEGO — Multifamily properties in San Diego are in high demand — and not just among Millennials and empty nesters who long for convenience, walkability and beautiful ocean views. Panelists at InterFace Conference Group’s San Diego Multifamily Conference, held March 19 at the Sheraton Hotel & Marina, viewed this market as a hot one… if you can get in. “There hasn’t been a ton of multifamily transaction activity in San Diego,” said Aldon Cole, senior managing director at HFF and moderator of the “Who’s Lending?” panel. “It’s an interesting market that we’re all trying to navigate. We have to adapt in a low-trade environment.” San Diego’s reputation for being a stable market and one where people want to be are two of the factors contributing to this lack of opportunity. “During the last downturn, San Diego was the most stable market,” noted Mark Gleiberman, CEO of MG Properties Group and Developers/Owners panelist. “It always tends to be one of the most stable markets that we’re in. It’s not totally resistant to a downturn, but San Diego tends to fare better in most recessions than other markets.” Desirability paired with strong market fundamentals has created a very competitive landscape among …

March 22, 2019

California Conference Coverage Features Healthcare Western Western Feature Archive

Healthcare Real Estate Investors Choose to Diversify in Face of Fever-Pitch Property Demand, Say InterFace Panelists

by John Nelson March 14, 2019

It’s a highly competitive environment when it comes to healthcare real estate out West, so say InterFace Conference Group’s Healthcare Real Estate West panelists. One of the central themes of the day-long conference, which was held March 6 at the Omni Los Angeles and attracted 219 attendees, was the pent-up property demand from investors. However, most panelists agree the opportunities are somewhat limited due to a lack of new product and the long-term holding pattern many healthcare investors have adopted. “You have all this demand, yet transaction volume is staying flat,” said Darryl Freling, managing principal at MedProperties Realty Advisors and moderator of the 2019 Outlook panel. “Where’s the bottleneck? So much is held by healthcare systems and they’re not letting go because clearly there’s just so much demand.” Shane Seitz, fellow panelist and senior vice president at CBRE, doesn’t see this level of trading picking up, at least not with the current healthcare supply. “REITs don’t get incentivized to turn over their product,” he noted. “They buy and hold. They treat it just like the nonprofit health system does. They want to have it forever. We also have foreign and domestic groups coming in. They historically invest in funds, …

March 14, 2019

California Conference Coverage Features Seniors Housing Western Western Feature Archive

ProMatura’s Wylde: Seniors Housing Must Get Back to Basics

by John Nelson March 12, 2019

LOS ANGELES — Bells and whistles may be a distracting way to get a prospective seniors housing resident’s attention, but Margaret Wylde, CEO of ProMatura Group, believes they can take away from the core purpose of providing a safe, welcoming environment for seniors. “We spend so much money in this industry on amenities that people will never use,” she said. “People want a place they can call home. A place they can live in. A place where they don’t have to hide their things. We can cut out some amenities and invest more in rentable space and give them a better home to live in.” Wylde made the comments during her keynote address at InterFace Seniors Housing West, held March 7 at the Omni Los Angeles. The audience for her address was nearly 300 seniors housing industry professionals. The latest data from Mississippi-based research firm ProMatura notes that amenities aren’t identified as a priority to seniors, though they can make their families feel optimistic about a facility. The actual residents are focused on the type of unit, floor plan and price. “Gardening areas, libraries — they don’t help,” said Wylde. “It’s not about how much we can cram in to entertain. …

March 12, 2019

Conference Coverage Features Midwest Northeast Southeast Texas Western

How to Reach the Right Retail Audience

by Jaime Lackey January 27, 2019

It’s no secret that pop-up and experiential retail are hot topics. But it can be hard to figure out how best to engage audiences with an individual activation before, during and after the event. To help marketers solve this conundrum, Brandon Chesnutt, vice president and director of digital & development at Identity, hosted a session titled “Six Winning Pop-Up Retail Marketing Ideas Property Managers Can’t Ignore” during the 2019 Ancillary Retail Expo, a two-day conference produced by InterFace Conference Group and Ancillary Retail magazine. At issue during the session, which took place in mid-January at the Hilton Daytona Beach hotel, were a host of key topics for retailers looking to decide which pop-up retail marketing strategies generate the most attention, excitement and foot traffic. Chesnutt introduced the property owners and managers in attendance to tactics and campaign ideas that have the attention of retail marketers, including targeted social media advertising and tailored group activations. The Detroit native acknowledged that it’s an exciting time for marketers of all stripes, but said that excitement and energy comes with a host of questions about best practices in a rapidly changing industry. “The expectations of what is considered marketing are shifting,” said Chesnutt. “If …

January 27, 2019

Conference Coverage Features Georgia Multifamily Southeast

Lower Returns is a Fact of Life for Multifamily Stakeholders, Say InterFace Speakers

by John Nelson December 13, 2018

There is no shortage of capital available to seasoned multifamily developers and investors because the property sector’s underlying real estate fundamentals remain so strong. That was one of the key takeaways of the ninth annual InterFace Multifamily Southeast, a real estate conference hosted by InterFace Conference Group and Southeast Real Estate Business. The event drew more than 400 multifamily professionals to The Whitley hotel in Atlanta on Nov. 27. Speakers during the development panel said that multifamily real estate has plenty options on both the debt and equity sides, but underwriting financing for new construction can still be a strenuous process because they aren’t seeing as high of returns as years past. “Our return thresholds are lower, that’s a fact,” said Chad DuBeau, senior managing director of Mill Creek Residential Trust. “Construction costs are high and land prices are high. The cost of capital is very reasonable, but when you put all those factors together, underwriting is just difficult.” Panel moderator Ron Cameron, senior vice president and principal of Colliers International, asked his fellow panelists a pointed question about the state of the industry. If the multifamily cycle were a game of golf, what hole is the sector currently on? …

December 13, 2018

Conference Coverage Features Industrial Western

Effects of E-Commerce Ripple Across Salt Lake City Industrial Market, Concludes InterFace Panel

by Alex Tostado December 10, 2018

SALT LAKE CITY — E-commerce has emerged both as a major driver and hindrance to manufacturing growth in Salt Lake City, where increasing costs of technology are limiting the speed at which industrial users deliver goods to consumers. The rise of online shopping has been predicated on rapid delivery of product, but achieving an expedient pace of distribution requires greater investment in automated technology that can package and ship goods faster than human laborers. But e-commerce is not cheap to execute. According to Wick Udy, managing director in the Salt Lake City office of brokerage giant JLL, the cost of delivering an item purchased online generally accounts for about 25 to 30 percent of the total purchase price. “We’re starting to see a lot of these companies re-evaluate their network,” said Udy. “They’re going closer to the consumer, and that’s helping with logistics costs. E-commerce and certainly manufacturing are really what’s driving our market here.” Udy made his remarks during InterFace Industrial Real Estate in Salt Lake City on Nov. 29. The half-day conference at Little America Hotel and was followed by InterFace Multifamily Real Estate later that same day. All totaled, the two events drew 306 professionals from across …

December 10, 2018

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