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FeaturesHeartland Feature ArchiveHospitality

Ten Legal Due Diligence Priorities for Hotel Investors

by Kristin Harlow

By Tim Franzen, Ginsberg Jacobs Nearly 30 years as a principal sponsor of hundreds of hospitality real estate investments have shaped how I approach legal due diligence. Hotel deals rarely fail because someone missed an obscure legal technicality. They fail because buyers, lenders and even counsel didn’t fully understand the business implications of key property and operational issues. The franchise agreement that looked standard triggered a property improvement plan. The management contract that seemed reasonable made the operator nearly impossible to remove. The union agreement exposed the owner to unexpected pension liabilities. The following due diligence priorities aren’t exhaustive, nor are they a substitute for experienced legal counsel. But if you can confidently address each of them before going hard on a hotel acquisition, you’ll be in a far stronger position than most investors. 1. Understand what you’re actually buying. Hotel acquisitions involve far more than real estate. In addition to land and buildings, you may be acquiring management agreements, franchise rights, liquor licenses, union obligations, equipment leases and vendor contracts. Hotels are operating businesses, not just real estate assets. Before closing, your legal team should identify what transfers automatically, what terminates and what requires third-party consent. Pay particular attention …

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Investment Panel_Seniors Housing Southeast
Conference CoverageFeaturesMultifamilySeniors Housing

InterFace Panel: Operator Relationships Are Key to Pricing, Awarding Deals in Seniors Housing

by Taylor Williams

By Taylor Williams ATLANTA — The cog between the wheels, the mortar between the bricks, the grease between the skids — when it comes to seniors housing, whatever your preferred cliché is for the factor or mechanism that makes it all work, you’re likely talking about the operator. Operators in seniors housing have always provided crucial services in the forms of resident caregiving, facility maintenance, property marketing and programming execution. But in 2026, amid a rebounding investment sales environment, third-party operators also play important roles in helping sellers accurately underwrite costs that fall outside their traditional line-item purview. In addition, the reputation of the operator can factor into the buyer pool for a property on the selling block. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. At the 13th annual InterFace Seniors Housing Southeast conference, which took place on Aug. 25 at the Grand Hyatt Buckhead Hotel in Atlanta, a panel of owners and investors spelled out just how important the role of the operator really is in the current seniors housing environment. Shae Portnoy, vice president of investments …

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FeaturesHeartland Feature Archive

How Smart Builders Cut Costs During Preconstruction

by Kristin Harlow

In today’s market, builders are met with longer decision-making timelines and increased scrutiny over budgets before projects are approved, according to John Line, executive vice president with Farmington Hills, Michigan-based Huntington Construction.  Last year, CBRE reported that the construction pipeline continued to contract across all property types, estimating that construction costs increased 35 percent since 2020. A J.P. Morgan report from earlier this year states that rising costs, largely fueled by tariffs and trade policy uncertainty, present challenges for commercial real estate. For instance, imported aluminum, copper and steel parts are subject to a 50 percent tariff. “While there’s still a healthy pipeline of opportunities, clients are carefully evaluating scope and costs before breaking ground,” says Line. “As a result, preconstruction and collaboration are more important than ever, and contractors are expected to provide strategic guidance long before construction begins.”  Kinjal Patel, president of Chicago-based McHugh Construction, echoes this sentiment. He says success in today’s market depends on disciplined project selection, early planning and closer coordination with clients and trade partners during preconstruction.  McHugh has utilized time during slower development cycles over the past few years to strengthen subcontractor relationships, procure long-lead-time materials earlier and leverage emerging technology to improve …

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FeaturesUncategorized

Why America’s Buildings of Today Are Still Preparing for Yesterday’s Emergencies

by Taylor Williams

By Ernie Williams, CEO of Go To Green Commercial buildings have changed dramatically over the past several decades. They’re taller, denser, more connected and increasingly filled with technologies that can control everything from temperature and lighting to access, energy consumption and security. Yet when an emergency occurs, many of those same buildings still rely on surprisingly old models for getting people to safety. A traditional evacuation plan works best when an emergency is predictable. A fire alarm sounds; occupants move toward the nearest available exit, and first responders arrive to address the source of the danger. The problem, of course, is that many modern emergencies aren’t static. Fire and smoke can spread; severe weather can make one side of a property more dangerous than another, and active threats can move through a building. Floodwater can block an exit that was accessible minutes earlier. In a large multifamily, commercial or mixed-use development, thousands of people may need to make decisions at the same time without having the same information. Property owners and operators may need to plan for severe thunderstorms, flash flooding, hurricanes, extreme heat, wildfires, power disruptions and human-generated emergencies. The response required for one event can be entirely different …

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DevelopmentFeaturesFloridaSeniors HousingSoutheastSoutheast Feature Archive

What’s Changing in Senior Living Sector, And What Does It Mean for Construction?

by John Nelson

Senior living has changed a lot in the past five or six years. The shift  was underway before the pandemic, but it has accelerated recently. Now, there is a clear move away from institutional designs toward communities that feel more like hotels, with a focus on wellness, flexibility and the resident experience. The way spaces are designed has changed as well. In the past, facilities had large, central common areas. Now, layouts focus on flexible use and smaller, spread-out gathering spaces. There is also more focus on connecting with the outdoors, so courtyards, walking paths and shaded seating are now standard. Industry research shows that spaces that support social engagement and health are important, which is guiding how buildings are now designed and built. We have seen these changes firsthand through our work across the senior living sector. ANF recently completed Wellspring Apartments in Miami, a complex that reflects the growing need for well-located, intentionally designed housing for older adults. We are also building All Seasons Delray Beach for Beztak, a luxury senior living community centered on hospitality, lifestyle and elevated amenities. In Pembroke Pines, we are completing the final phase of Douglas Gardens for McDowell Housing Partners and Miami …

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FeaturesLoansSoutheastSoutheast Feature Archive

C-PACE Financing Is Meeting the Moment

by John Nelson

The cat is out of the bag for Commercial Property Assessed Clean Energy financing, or C-PACE.  C-PACE financing executions across the country totaled a little more than $2 billion in both 2023 and 2024, according to PACENation, which tracks and advocates for C-PACE financing. The nonprofit association hasn’t published the final numbers for 2025 yet, but CNBC reports that Nuveen Green Capital closed more than $2 billion in C-PACE loans across 53 deals last year alone. “In less than a decade, C-PACE has grown from a niche, nuanced product to institutionally recognized,” says Rafi Golberstein, founder and CEO of PACE Loan Group (PLG), a C-PACE lender based in Minneapolis with regional offices in New York City, San Diego and Chicago. “That’s both a result of the growth of the industry to this point and what’s fueling its next phase. As the clientele has moved from mostly regional developers to include the large, national developers, the deal size has increased as well.” Earlier this year, PLG secured a $100 million C-PACE loan for Patmos, an artificial intelligence (AI) data center operator. The company is converting a glass-encased building in downtown Kansas City that once housed the operations of The Kansas City …

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FeaturesRetail

More Than Shopping: How Retail Design Has Evolved Beyond Conveyance of Goods, Become Amenitized

by Taylor Williams

By Randall Shearin With more food-and-beverage (F&B), outdoor spaces and entertainment uses prevailing, retail centers are being viewed by many consumers and communities more as a place to spend time than purchase goods. While goods and services may still be at the forefront of their function, many developers have taken their cues from resorts and parks to understand how to give consumers an experience worth paying for.  “Retail developers increasingly recognize that consumers are seeking experiences that encourage longer visits and repeat trips,” says Neil Feaser, president of RKAA Architects. “Our response is to design projects that support multiple reasons to visit. The goal is to create destinations where shopping is one component of a broader experience that includes dining, recreation, social engagement and community interaction.” Over the past decade, retail design has continued to evolve as dining, entertainment and public spaces become more prevalent features. Programming — in the form of arts events, farmer’s markets, concerts and live entertainment — has also become a big part of the community attraction factor at many centers. These components have become just as important as retail to the draw of a center for many developers and communities. And with retail space at …

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FeaturesHealthcareMixed-UseSoutheastSoutheast Feature ArchiveTennessee

Outpatient Care Is Becoming Valued Member of Mixed-Use Developments

by John Nelson

By Emily Buchanan of Gensler For decades, healthcare delivery was something that happened somewhere else: a hospital campus on the edge of town, a medical office park behind a parking garage, a clinic that required a car and a calendar. Today, patient expectations have shifted. Health systems chase convenience, and outpatient facilities are moving closer to where people live. For mixed-use developers, that shift represents one of the most compelling value propositions available: healthcare not as a use, but as an amenity. The case isn’t complicated. Locating outpatient clinics within a mixed-use development improves quality of life for residents, provides healthcare tenants with a stable and captive patient base and gives medical staff a commute that doesn’t erode the beginning and end of every shift. When all three outcomes land in the same project, developers are not just filling square footage; they are building a functioning community. Developer’s perspective Healthcare tenants are, by almost every measure, among the most valuable tenants a mixed-use developer can attract. They sign long-term leases, they withstand economic downturns, and they generate consistent daily foot traffic that benefits the retail and food-and-beverage tenants around them. Pharmacies, fitness studios and cafés thrive when an outpatient clinic …

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FeaturesHeartland Feature ArchiveMultifamily

Multifamily Operators Seek Competitive Edge

by Kristin Harlow

The multifamily industry is facing a number of headwinds such as high operating costs, increased vacancy and stagnant rent growth. Property managers are leveraging artificial intelligence (AI) and focusing on recruitment and retention of workers as solutions. There’s also a strong emphasis on resident satisfaction, with the goal of providing top-notch maintenance and property events to help secure lease renewals.  In June 2025, operational expenses in multifamily assets were roughly 39 percent above where they were prior to the pandemic, according to commercial real estate data analytics firm RealPage. In the first quarter of 2026, three of the six apartment market regions that CBRE tracks posted negative year-over-year rent growth (Mountain, South Central and Southeast). The national vacancy rate was 4.8 percent, up slightly from a year ago but down 20 basis points from fourth-quarter 2025, according to CBRE.  Amid these pressures, the role of the property manager is vital in helping shape resident satisfaction and maximizing operational efficiencies. Jim Cunningham, president of Marquette Management in Naperville, Illinois, says the multifamily industry is in a period of transition. “Operators are navigating higher operating costs, increased regulatory scrutiny and a more value-conscious renter, all while expectations for service and experience continue …

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The office sector showed its strongest performance since COVID in the second quarter of 2026, according to the Lee & Associates’ 2026 Q2 North America Market Report.
AcquisitionsContent PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesLoansMidwestMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Lee & Associates’ Q2 Report: Office, Retail Markets Gain Momentum as Industrial, Multifamily Face Headwinds

by Sarah Daniels

The Lee & Associates’ 2026 Q2 North America Market Report finds that commercial real estate fundamentals are improving, but the pace of recovery varies significantly by property type and market. Office and retail sectors are showing renewed momentum, industrial demand continues to recover unevenly amid trade uncertainty and multifamily fundamentals are stabilizing as new supply begins to moderate. Across all sectors, investors and occupiers remain highly selective in an evolving market. Sponsored: Download Lee & Associates’ 2026 Q2 North America Market Report. Industrial Overview: Recovering Demand Is Uneven Amid Trade Tensions Demand for North American industrial space in the second quarter continued to recover from slowing caused by heightened trade uncertainties that began early last year. Modest tenant expansion in the United States remains well off pre-COVID average growth. In the United States, 44.4 million square feet of net absorption in the second quarter brought the mid-year total to 77.1 million square feet, about 30 percent less than the pre-pandemic five-year average. First-half deliveries fell to 93 million square feet, which included 44.4 million square feet in the first quarter — the least in seven years. Although supply additions have moderated, the pullback in tenant demand over the past three years …

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