Multifamily Brokers Anticipate Another Busy Year Despite High Inflation, Expected Interest Rate Hikes

While 2021 was a record year for multifamily investment sales, brokers see no sign of a slowdown. Some dealmakers anticipate that 2022 could be an even bigger year. In 2021, U.S. multifamily property and portfolio sales nationally totaled $335.3 billion, up 128 percent over the prior year, according to Real Capital Analytics. In 2021, Chicago-based Interra Realty sold or put under contract more than $527 million of apartment properties on behalf of clients, representing just under 3,000 units. …

Forecast Survey: What’s Your Take on Commercial Real Estate in 2022?

The editors of are conducting a brief online survey to gauge market conditions in 2022, and we welcome your participation. The survey should only take a few minutes to complete.Questions range from property sectors that you are most bullish on heading into 2022 to trends in deal volume to your outlook for interest rates.The results of our 11th annual survey will be collated and published in the January issues of our regional magazines. Conducting these surveys is …

Lee & Associates Breaks Down Third-Quarter Economic Outlook by Sector

The calculus for which asset classes are likeliest to demonstrate strong growth continues to shift as the pandemic appears to be receding. Patterns in labor shortages, supply chain issues and material costs have managed to solidify through the third quarter of 2021.Lee & Associates’ newly released Q3 2021 North America Market Report dissects third-quarter 2021 industrial, office, retail and multifamily findings, with a focus on where demand is moving and the challenges facing each …

Supply Chain Disruptions Create New Challenges for Builders

Construction projects are taking longer to complete and costing more to build than they did prior to the COVID-19 pandemic. The supply of available materials dried up considerably during the pandemic due to shutdowns and social distancing requirements, which reduced capacity at manufacturing plants. Those supplies continue to be constrained, and lead times for receiving materials are massively elongated.  For example, when placing orders for roofing insulation, builders can now expect a …

Demand for Value-Add Multifamily Acquisitions Outpaces Supply

Earlier this year, national real estate investor and operator Waterton closed fundraising activity for a multifamily value-add fund with $1.5 billion in equity commitments from global institutional investors. Waterton launched the fund, known as Waterton Residential Property Venture XIV, in May 2020.  The first deployment from the fund was a four-property, 1,824-unit portfolio in metro Atlanta followed by a two-property portfolio in Hawaii and three assets in California. The largest-ever fund …

Office Buildings Get Wellness Makeovers

The work-from-home model that became the “new normal” for most office workers in 2020 as a result of the COVID-19 pandemic has stymied leasing activity and altered tenant strategies. Many space users have opted for short-term leases in response to the uncertainty triggered by the virus. According to JLL, U.S. office leasing volume in 2020 totaled 125.6 million square feet, down 47 percent from the prior year. Of the lease renewals inked in the fourth quarter, 43 percent were for five years …

All Bets Are Off on Property Tax Assessments

By Jerome Wallach, The Wallach Law FirmIn the budgeting process each year, property owners ask tax attorneys to estimate their projected tax exposure for the coming year or, in the case of multi-year cycles, what their property’s assessed value will be.Customarily, attorneys experienced in real property tax appeals find answers to those questions by using traditional valuation methods: The cost approach is applicable to newer properties; the income analysis approach is tied to …

Four Factors for Planning a Post-Pandemic Multifamily Amenity Renovation

By Mary Cook, Mary Cook Associates As a commercial interiors firm, a question we hear a lot recently is “Are multifamily developers renovating amenities because of the pandemic?” The answer is a bit more nuanced than a straight “yes” or “no.” No, entire amenity floors are not being ripped out and re-thought in direct response to changes stemming from the pandemic. But yes, long-term lifestyle trends are emerging from the pandemic that should be a factor when redesigning amenity …

Matching Americans to Jobs Will Be Key to Economic Recovery, Says Economist

DES PLAINES, ILL. — When reflecting on the future of the economy and its recovery, sometimes it’s good to look back. For instance, one of the lessons learned from the pandemic of 1918 was that people will make up for lost time, says Scott Brown, chief economist for Raymond James. “That’s one of the reasons we had the Roaring ’20s.”Brown’s remarks came during the opening session of CORFAC International’s virtual spring conference on Wednesday, March 17. Brown hosted an …

General Contractors Look Forward to Possible ‘Tsunami of Projects’ as Backlog Dissipates

With light emerging at the end of the COVID-19 tunnel thanks to the rollout of a vaccine, general contractors are confident of an uptick in business activity in 2021 following a year in which many projects were put on hold. But that optimism is clouded slightly by the high cost of materials, particularly lumber. Michael Sullivan Jr., CEO and founder of Des Plaines, Illinois-based Peak Construction Corp., says his company is prepared to absorb more of the rising costs this year than it did in …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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