Conference Coverage

Foodservice Remains Retail Darling as Customers Have Appetite for Experiences

by Jeff Shaw April 14, 2023

LOS ANGELES — Whitney Livingston had a question for those in attendance at the annual Entertainment Experience Evolution conference in Los Angeles: Which user — food halls or restaurants — are more beneficial to driving traffic at retail properties? By show of hands, most attendees said food halls. Livingston, president of Centennial REC, was moderating the event’s “Fireside Chat: What’s Better for Traffic, Food Hall or Restaurants?” panel at the JW Marriott LA Live. Each of the categories was embodied in the form of a panelist. Representing food halls was Michael Morris, CEO of the aptly named Food Hall Co., with Rich Renninger, SVP and chief development officer of Darden Restaurants, weighing in from the perspective of more traditional, full-service restaurants. Despite what the name of the panel might suggest and Livingston’s opening poll, the dialogue that emerged between Renninger and Morris did not take on the shape of a debate so much as a conversation that illustrated that, for all their distinctions, there are many commonalities between the two types of food-and-beverage users. Ultimately, the panelists revealed that though food halls and full-service restaurants may take different paths, there is one shared recipe for success: creating a robust customer …

April 14, 2023

Conference Coverage Features Retail

Sports-Anchored Entertainment Districts Deliver Experiences Well Beyond Athletics, Say EEE Panelists

by Taylor Williams April 11, 2023

LOS ANGELES — As large-scale entertainment districts that are centered around professional sports teams pop up around the country, operators of these developments are realizing that their ability to draw traffic, generate revenue and deliver meaningful experiences goes well beyond the diamond, arena or gridiron. After all, the average professional sports season only lasts about six months — assuming the team qualifies for the postseason — and only half the games are played at home. Given the scope of these projects, in terms of their vast physical footprints and tremendous manpower needed to operate the wide variety of concepts they house, it follows that sports-anchored entertainment districts cannot rely on athletics alone to be successful. At the Entertainment Experience Evolution that took place in Los Angeles in early March, a panel of developers and operators with extensive experience in sports-anchored entertainment districts provided concrete examples of how to achieve this objective. Hosted by Shopping Center Business, the flagship publication of Atlanta-based France Media, the event drew more than 500 people in its eighth annual iteration. Rob Hunden, president and CEO of Hunden Strategic Advisors, a Chicago-based consulting firm for destination-style commercial projects, moderated the discussion. Pioneering Examples John Moncke, a …

April 11, 2023

Conference Coverage Features Multifamily Seniors Housing

Despite Challenging Economy, Seniors Housing Developers Find Creative Ways to Push Projects Forward

by Taylor Williams March 7, 2023

By Nellie Day LOS ANGELES — The advice offered by a panel of developers at InterFace Seniors Housing West, held Feb. 2 at the Omni Los Angeles, mirrors the advice many would give to their senior residents. Namely, “stay active and stay creative.” But these verbs take on a slightly different meaning when you’re talking about the smartest plays for seniors housing developers during a time in which key economic conditions are changing. “The smarter operators and developers have been developing pipelines,” said panelist Paul Mullin, principal at Flatiron Development Group. “The key is momentum. Keep momentum going. Keep the pipeline going. Don’t stop because bankers aren’t lending. We’ll all get out of this; it’s just a short-term issue we have to overcome.” The issue of the current market conditions may be short term, but it’s also multifaceted, as David Waite, partner at Cox, Castle & Nicholson, pointed out. “The challenges are real,” he said. “You’ve got the spread between bid and ask and a rising-cap-rate environment. To go in and buy an asset today in this market is super challenging because you know it’s going in the wrong direction in terms of the valuation.” The solution, according to Waite, …

March 7, 2023

Conference Coverage Features Multifamily

InterFace Panel: Capital Partners Expect Higher Returns on Multifamily Deals

by Taylor Williams December 19, 2022

Against increasingly turbulent macroeconomic conditions, capital sources in both the debt and equity markets are being pickier about which multifamily deals they finance or invest in, with higher required rates of return (RRR) emerging as the symbol of this newfound selectivity. The macroeconomic deck is indeed stacked against capital sources. Borrowing costs have quintupled over the last eight months as the Federal Reserve has waged war on inflation, rattling off seven rate hikes for an aggregate increase of 425 basis points. Prices of key construction materials continue to fluctuate wildly as labor issues, both domestic and abroad, continue to entangle global supply chains. But lenders and investors can only sit on the sidelines for so long. To hedge their bets against market conditions beyond their control, many capital sources in the multifamily space are only giving serious consideration to deals and projects in which the path to a certain rate of return — or exit cap rate — is clear and plausible. The movement in RRR that multifamily owners and developers are facing from their capital partners formed a core part of the discussion at the 13th annual InterFace Multifamily Southeast conference. Hosted by Atlanta-based France Media, the event took …

December 19, 2022

Conference Coverage Development Features Multifamily

Partnership, Early Planning Integral to Multifamily Project Success, Say Interface Design Panelists

by Jeff Shaw December 9, 2022

ATLANTA — This year has been a tumultuous one for multifamily construction. Between rising interest rates, fluctuating supply lines, costs of materials and difficulties procuring labor, developer confidence in new multifamily starts is faltering as work on current projects is beginning to slow. “In this market, it’s so hard to stay abreast of all of the changes that are happening,” said Cara Frost, director of preconstruction at Juneau Construction, which is based in Atlanta. “And that has led to a more design-assist approach on our end.” Frost’s comment came during the “What to Look for in Architecture, Design and Construction Trends in 2023” panel at the 13th annual InterFace Multifamily Southeast on Dec. 1. France Media hosted the event at the Westin Buckhead hotel in Atlanta. There were approximately 325 conference attendees. Joe Martinez, president of Atlanta-based real estate development and investment firm Vida Cos., moderated the panel. Speakers discussed the challenges they are currently facing and emphasized the importance of collaboration and transparency early in the process of a project. “There are three buckets — budget, time and quality — and right now, you get to be really good at two of those things,” remarked Josh Kassing, vice president …

December 9, 2022

Affordable Housing Conference Coverage Features Georgia Multifamily Southeast Southeast Feature Archive

Interest Rate Volatility Will Slow Multifamily Investment Activity in 2023, Says InterFace Panel

by John Nelson December 6, 2022

ATLANTA — A lot can happen in a year. This time a year ago, the 10-year Treasury yield was at 1.489 percent, the federal funds rate was at a range of 0 to 0.25 percent and SOFR was at 0.05 percent. As of this writing, those three benchmark interest rates are at 3.527 percent, 3.75 to 4 percent and 3.82 percent, respectively — none of which are within 200 basis points from a year ago. Debt capital has become decisively more expensive, and officials at the Federal Reserve are signaling that more rate hikes are coming. For the U.S. multifamily sector, the result is that investors are increasingly becoming “pencils down” until interest rates find their footing. “We haven’t had much [investment] sales volume, as you can imagine, in the third or fourth quarter,” said Bennett Sands, managing development director at Wood Partners, an Atlanta-based apartment developer. “Looking ahead, our sales volume in 2023 will be down 50 percent [from 2022], if we’re lucky.” “It has been pretty quiet the past few months, and we expect that to continue for the next few months as well,” added Andrew Zelman, vice president of acquisitions at GID, a multifamily and mixed-use developer …

December 6, 2022

Conference Coverage Features Multifamily

InterFace Panel: Multifamily Managers Brace for Increases in Labor Costs

by Taylor Williams September 8, 2022

By Taylor Williams The multifamily management industry has been beset by labor shortages for years, which has in turn prompted the rise of numerous technological platforms designed to streamline, automate and simplify daily work. But the business of running apartment communities carries an inherent and irrevocable human element, and the cost of acquiring and maintaining that service is about to go up. As an industry, multifamily management is hardly alone on this front. Businesses in countless sectors across the country are deadlocked in labor battles. While overall unemployment remains low at 3.7 percent, at 62.4 percent, the labor force participation rate remains about 100 basis points below its pre-pandemic mark, according to data from the Federal Reserve. In addition, according to the Society for Human Resource Management, resignations hit record highs in 2021, with some 4 million Americans quitting their jobs every month. With much of the labor supply in flux and potentially looking to shift careers, the advantage shifts to deep-pocketed, well-capitalized employers who can not only offer higher salaries, but also greater workplace flexibility. As such, multifamily management firms will likely be competing for talent among one another in 2023, as well as sparring with recruiters from completely …

September 8, 2022

Conference Coverage Features Multifamily Seniors Housing Southeast Southeast Feature Archive

Supply Chain Issues Slow Seniors Housing Development as Demand Balloons, Say InterFace Panelists

by Kristin Harlow September 7, 2022

ATLANTA — Delays in the arrival of building materials — everything from windows and roof trusses to microchips for electrical panels — is one of the biggest hurdles slowing down new seniors housing developments, according to Kristin Kutac Ward, CEO of Solvere Living. Ward’s comments came during the ninth annual InterFace Seniors Housing conference. The event, which took place Aug. 17 at the Westin Buckhead in Atlanta, was hosted by France Media’s InterFace Conference Group and Seniors Housing Business and drew 324 attendees. Joining Ward on the development panel was Tod Petty, vice chairman with Lloyd Jones Senior Living; Matthew Griffin, senior vice president, eastern states, with Griffin Living; and Jim Vogel, president of Solvida Development Group. Rick Shamberg, managing director of Scarp Ridge Capital, served as the moderator. Despite the challenges in today’s building environment, there is pent-up demand and plenty of excitement regarding new seniors housing projects, said Ward. As baby boomers age, there will be a need for seniors housing care for about 50 million more people in the U.S., according to Shamberg. There’s ample opportunity for developers to fill that void in housing. According to Petty, the need for seniors housing units will be most pronounced …

September 7, 2022

Conference Coverage Features Multifamily Seniors Housing

InterFace Panel: Labor Issues Hurt Margins, Investor Confidence in Seniors Housing

by Taylor Williams August 25, 2022

The labor shortage that continues to plague the seniors housing industry is taking a toll on the capital markets side of the business as owner-operators find themselves underwriting sharper costs that are ultimately causing profit margins to shrink and spooking some potential investors. The origin of the dearth of qualified and committed staffers at all levels of seniors housing can largely be attributed to the pandemic. But other macro-level factors — low overall unemployment, stiff competition with hospitality and healthcare users, elevated demand for flexible work routines — are amplifying the problem, even as COVID retreats into the background of everyday life. According to data obtained by the St. Louis Federal Reserve, since January 2020, some 400,000 nursing home and assisted living employees have left the profession. In addition, a 2021 study by the American Healthcare Association and National Center for Assisted Living revealed that across approximately 14,000 surveyed properties, 99 percent of nursing homes and 96 percent of assisted living facilities reported staffing shortages of varying degrees. Higher labor costs put pressure on operating costs, which are further strained amid 40-year inflationary highs and the rising costs of capital that said inflation has subsequently prompted. For many owners and …

August 25, 2022

Conference Coverage Features Georgia Seniors Housing Southeast Southeast Feature Archive

Seniors Housing Operators See Rapid Rise in Online Leads and Universal Workers, Say InterFace Panelists

by John Nelson August 18, 2022

By John Nelson ATLANTA — Property managers rely on various tools and methods to boost occupancy at their seniors housing facilities. One common avenue is for operators to have reliable online lead generators that connect their sales teams to potential residents and their families. Digital platforms in the seniors housing space like A Place for Mom and Grow Your Occupancy are churning out such leads for sales teams, and operators are saying that it’s a double-edged sword because they are coming in at a rapid clip. “We love the leads but we have one salesperson per community typically,” said Don Bishop, CEO of Tallahassee, Fla.-based SRI Management. “The response time is important. Some leads take a long time to prospect and work through the system. Having too many leads is a good challenge, but it is a challenge.” Bishop’s comments came during the operations panel at the ninth annual InterFace Seniors Housing Southeast, a networking and information conference hosted by France Media’s InterFace Conference Group and Seniors Housing Business. The event was held Wednesday, Aug. 17 at the Westin Buckhead hotel in Atlanta. Pilar Carvajal, founder and CEO of Innovation Senior Living, said that her firm has been discussing creative …

August 18, 2022

Newer Posts

Older Posts