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No one can predict the future, but you can prepare for it. That’s always good advice for investors seeking to refinance their multifamily properties, but it’s particularly apt now. There’s both change and volatility in the air, making planning imperative. Volatile Interest Rates Interest rates have remained at historic lows much longer than most analysts predicted five years ago. Upward pressure has been restrained by a combination of factors that include a slower-than-expected recovery, the strong U.S. dollar and a fight to quality by global investors. However, in December the Fed raised rates for the first time in a decade, albeit modestly. Market observers expect additional increases this year. Meanwhile, investors remain concerned about interest-rate volatility. Last February, the yield on the 10-year Treasury note dropped to 1.68 percent. In June, it rose to 2.50 percent. October saw a dip to 1.99 percent, followed by a November high of 2.34. In the last 12 months, it has not been unusual to see rates jump 20 to 30 basis points in the course of a week. For an investor, the significance of that rise can be measured in the difference between securing a $10 million loan and settling one that’s just …

Retail outlets, for many, call to mind memories of piling into a car and driving into rural parts of the state for a day filled with bargain hunting. While these traditional centers still exist, a shift is taking place in the outlet landscape. New development is moving toward the rooftops, and bringing with it the elements of a successful lifestyle center. “Most of the outlets used to be in rural areas where you would have to go on a journey to get your discounts,” says Quito Anderson, CEO of Ben Carter Enterprises. “Those days are gone.” Enhanced food offerings, placemaking and the addition of entertainment are just a few of the elements making their way into the modern outlet center. “In the past, entertainment at outlet centers had been exceedingly limited,” says Karen Fluharty, partner at Strategy+Style Marketing Group. “The entertainment used to be almost exclusively found in the discounts. Today, there is a convergence between entertaining the customer while they’re shopping and allowing them to both be entertained by and enjoy the synergies of the surrounding environment,” says Fluharty. From kids clubs, to fireworks exhibits, movie theaters and restaurants, today’s outlet center is not just a place to bargain …

COLUMBUS, Ohio — A clear majority of seniors housing executives plan to start new construction projects in 2016, although they are slightly less ambitious than they were a year ago, according to an online survey of 295 executives by Columbus-based lender Lancaster Pollard. Respondents to the survey included owners, operators, developers and investors. The survey found that 70 percent of respondents are either “somewhat likely” or “extremely likely” to start a new seniors housing project this year. This is a drop-off from last year, when 80 percent indicated they expected to undertake new construction. “Overall, our survey findings depict an environment similar to [last year],” the report states. ”New construction and renovation projects are increasingly being pursued, particularly in regard to assisted living and memory care.” The majority of respondents — 61 percent — believe that memory care will be the fastest growing subsector of seniors housing this year. Skilled nursing facilities and continuing care retirement communities are least likely to lead the way in growth, according to the findings. Survey respondents also suggest that the current seller’s market is starting to take a toll on owners’ approach to mergers and acquisitions. Some 65 percent indicate they are extremely or somewhat …