InterFace Panel: Seniors Housing Development Pushes Forward Despite Many COVID Delays

Seniors housing construction has continued during the COVID-19 pandemic — but perhaps not on the developers’ original timelines.“We have seen just about every obstacle thrown at us, from government shutdowns to disruptions in the supply chain to subcontractors contracting COVID to inspectors not showing up,” said Charlie Jennings, chief development officer, Harbor Retirement Associates. “Every time I start to think the worst is behind us, there’s something waiting around the …

The Presentation Of Obsolescence Helps Commercial Property Owners Achieve Successful Tax Appeals

By Angela Adolph, Esq.Judith Viorst, author of the children's book Alexander and the Terrible, Horrible, No Good, Very Bad Day, had nothing on 2020. By virtually every metric, 2020 was a terrible, horrible, no good, very bad year.Most states have some sort of catastrophe exemption for a property tax abatement or reduction tied to a defined disaster event. These statutes are state-specific, however, and few states had authority to address whether a property had to have sustained physical …

Distressed Property Outlook: Valbridge Forecasts 2021 Opportunities

When the pandemic took hold and rents of commercial properties began to waver, many experts in the industry expected a flood of distressed properties to hit the market in mid- to late 2020. To date, however, that hasn’t happened to a large extent. Valuation firms assumed they would get busier as properties fell upon hard times.Karl Finkelstein is vice president of Business Development and senior managing director for Valbridge Property Advisors, an independent, commercial valuation and …

What an Uncertain Commercial Real Estate Outlook in 2021 Means for Financing

By Steven Caligor, BHIIn these early days of 2021, there appears to be some cautious prospects of hope.A COVID-19 resurgence both internationally and domestically, further lockdowns, and even a new variant of the virus create uncertainty. However, the vaccine rollout has sparked market rallies, along with hopes of returning to a degree of normalcy toward the end of the year. We now have a stimulus package and a new presidential administration. Yet this scenario is tempered by a focus on …

Multifamily Market Offers Resilience in the Face of Economic Pressures

A Tale of Two Cities “It was the best of times, it was the worst of times…” More than 150 years later, the iconic Dickens quote still strikes a chord. While every recession is different, the pandemic-induced shelter-in-place rules quickly sent the U.S. economy into the deepest recession on record in the second quarter. Fortunately, economic recovery, at least thus far, is proving to be just as swift — in certain areas.While unemployment rates dropped quickly from 14.7 percent in …

Reduce High Retail Occupancy Costs by Ensuring Property Valuation Isn’t Excessive

By Morris Ellison, Womble Bond Dickinson E-commerce was here to stay even before the pandemic devastated small businesses and placed an even greater premium on technology. In the changed landscape, lowering occupancy costs by reducing property taxes is one of the most important steps businesses can take to remain competitive. Stay-at-home orders still prevent many shoppers from visiting their favorite brick-and-mortar stores, while fear of contagion exacerbates consumers’ reluctance to shop …

From Expanding Operations to Leveraging Technology, Lee & Associates Evolves in the Face of Change

The situation is a familiar one from the past year: 2020 changed a banner year full of promise into a difficult scenario full of fear and challenges. Jeffrey Rinkov, CEO and chairman of the board at Lee & Associates reflects on how his company took an emphasis on technology and communications infrastructure and used the past year as a time for reflection and a period to promote growth and client engagement. He also discussed trends he’s seeing for the future, the lessons he’s learned …

Exit from Pandemic Will Mirror a Butterfly’s Flight Path, Says Economist Peter Linneman

The U.S. economy’s exit from the COVID-19 pandemic will mirror the flight path of a butterfly, according to economist Dr. Peter Linneman. In other words, it will move forward but also up, down and sideways — quite erratic and not terribly fast.Linneman’s comments came during a “Walker Webcast” hosted by Walker & Dunlop CEO Willy Walker on Wednesday, Jan. 6.The butterfly stage will continue until enough people get vaccinated where Americans feel safe resuming pre-pandemic …

Pandemic Puts Outdoor Amenities, Middle Markets into Multifamily Spotlight

The impact of COVID-19 on the multifamily sector may not have been as severe as its effect on the retail or office asset classes, but there are still many ways that those professionals active in the multifamily space adapted to pandemic-driven changes. Some of these adjustments, such as virtual apartment tours, are likely permanent.Here are four pandemic-related trends expected to influence the multifamily sector in 2021, according to a roundup of Midwest-based real estate …

Seniors Housing Struggles Will Continue Through Mid-2021, Say InterFace Panelists

With two approved vaccines to combat COVID-19, the end of the pandemic is visible on the horizon. However, some seniors housing experts say it may be the third quarter of 2021 before the sector starts to see the turnaround take hold.“We have a much clearer picture of what the post-COVID world will look like,” said Adam Heavenrich, managing director of Heavenrich & Company. “The COVID world of 2020 will hopefully look drastically different from the post-COVID world of …

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