CRE Exchange: Commercial Real Estate, Property Valuations, Real Estate Analytics and Property Tax

Our hosts, Cole Perry, Senior Market Analyst at Altus Group, and U.S. Director of Research, Omar Eltorai, share a brief analysis of the latest CRE Industry Conditions and Sentiment Survey. With over 600 respondents from the U.S. and Canada, this episode looks at the biggest shifts between the first and second quarters of 2024, including surprising trends in de-risking, cost of capital, and market expectations. Cole and Omar also discuss capital availability, property type performance, and the evolving role of artificial intelligence in commercial real estate.

Key moments:

01:06 - About the Commercial Real Estate Industry Conditions and Sentiment Survey

02:09 - Primary focus for CRE firms over the next six months

03:17 - Reported cost of debt financing in CRE

05:31 - Expectations for capital availability in the next 12 months

07:43 - Expectations for target returns by fund strategy

10:16 - Property type performance and expectations around property sectors

12:36 - Pricing perceptions for different property types

16:11 - Transaction intentions over the next six months

17:08 - Top priority issues CRE professionals are worried about

19:16 - Omar’s biggest takeaway - industry participants aligning with higher for longer

20:36 - Cole’s biggest takeaway - participants are still really worried about the cost of capital

21:46 - Cole’s biggest surprise - perception of artificial intelligence

23:48 - Omar’s biggest surprise - intention to transact vs. actual transaction activity

25:05 - How to access this quarter’s survey results

Resources mentioned:

US Q2 2024 Commercial Real Estate Conditions and Sentiment Survey -

https://www.altusgroup.com/featured-insights/us-cre-industry-conditions-and-sentiment-survey/

Canada Q2 2024 Commercial Real Estate Conditions and Sentiment Survey -

CRE Industry Conditions & Sentiment Survey - Canada | Altus Group Featured Insights

Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

James Nelson, Principal and Head of Avison Young’s Tri-State Investment Sales group, and Scott Singer, Principal and Co-Lead of Avison Young’s Tri-State Debt & Equity Finance team join our latest episode of CRE Exchange!

James and Scott share their extensive experience and discuss the unique challenges and opportunities they’re seeing in the national and New York Tri-State commercial real estate market.

The episode highlights their career paths to Avison Young, the importance of leveraging relationships, innovative deal structuring, and adapting to economic shifts. The discussion also covers their involvement in industry organizations, and touches on James’ success in podcasting and authoring his best-selling real estate book, “The Insider’s Edge to Real Estate Investing.”

Key Takeaways:

00:29 Introduction to James Nelson and Scott Singer.

02:09 James and Scott share their backgrounds and career paths.

03:43 Avison Young’s unique structure and culture.

10:11 Market trends and challenges.

17:24 Financing and investment strategies.

32:08 Industry involvement and networking.

38:52 Podcast and book insights.

42:46 Final thoughts and closing remarks.

Resources Mentioned:

James Nelson -

https://www.linkedin.com/in/jamesnelsonnyc/

Scott Singer -

https://www.linkedin.com/in/scottsinger767/

Avison Young -

https://www.linkedin.com/company/avison-young-commercial-real-estate/

Real Estate Board of New York (REBNY) -

https://www.rebny.com/

The Insider’s Edge to Real Estate Investing -

https://jamesnelson.com/book

The Insider’s Edge to Real Estate Investing podcast -

https://jamesnelson.com/podcast

Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Co-host Cole Perry, shares insights he gained from the recent NAIOP CRE.Converge and Groceryshop conference. Discussion then turns to economic indicators covering NFIB Small Business Optimism Index, labor market, and the potential impact on inflation from the latest CPI and PPI releases. With US elections looming, Omar and Cole also touch on potential implications for CRE.

The team then welcomes special guest Sandi Prendergast, from Altus Group’s Tax Research team. Together, they dig into property tax with a deep dive into the complicated world of 'doom loops'. Sandi helps to unravel what doom loops are, how they can affect both CRE property owners and the local community, and how state and municipal governments can avoid them.

Key Takeaways:

(01:14) Conferences recap: NAIOP CRE Converge

(02:55) Conferences recap: GroceryFest insights

(04:49) Economic data and market trends

(10:17) NFIB Small Business Optimism Index and CRE impact

(13:17) CRE Industry Conditions and Sentiment Survey results and political uncertainty

(14:55) Property Tax Benchmark Report

(18:15) Doom loop theory and property tax

(21:03) Understanding property tax policies

(21:23) Factors putting cities at risk

(22:46) Political influence on property taxes

(24:56) Addressing the doom loop

(27:25) Property tax reforms and their implications

(29:35) Challenges with additional taxes

(35:08) Recommendations for property owners and investors

(37:19) Multifamily sector insights

(40:11) Survey announcements and closing remarks

Resources Mentioned:

Participate in the Q4 2024 CRE Industry Conditions and Sentiment survey

https://altusdxm.qualtrics.com/jfe/form/SV_bCw519OV8S9r2sK?Q_CHL=CREExchange

US multifamily sector rallies for quick rebound as sentiment slips for other CRE sectors

https://www.altusgroup.com/insights/us-multifamily-sector-rallies-for-quick-rebound-as-sentiment-slips-for-other-cre-sectors/

CRE industry conditions and sentiment survey - US Q3 2024 results

https://www.altusgroup.com/featured-insights/us-cre-industry-conditions-and-sentiment-survey/

CRE industry conditions and sentiment survey - Canada Q3 2024 results

https://www.altusgroup.com/featured-insights/canada-cre-industry-conditions-and-sentiment-survey/

Leave us a message!

https://www.speakpipe.com/CREexchange

Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Our hosts, Omar Eltorai and Cole Perry, share a round-up of the latest macroeconomic indicators, upcoming policy changes, and CRE market matters both present and future. During the episode, they review US economic releases covering GDP, inflation, housing, construction, and manufacturing data; discuss upcoming moves by the incoming administration, including potential effects of tariffs planned for the new year; and analyze recent retail earnings calls along with preliminary retail data for Black Friday. They wrap up with some observations and important questions about the market outlook for 2025.

Key Takeaways:

00:48 - Macro releases: GDP, inflation, and more

05:31 - Housing and construction data insights

10:47 - Policy and market reactions

14:44 - Potential tariffs in 2025

19:32 - Credit and equity market updates

29:16 - Retail sector performance and Black Friday data

37:11 - Looking ahead to 2025

43:59 - Upcoming earnings calls and economic data

45:26 - Announcement and closing remarks

Resources Mentioned:



Q3 2024 US CRE Investment and Transactions Quarterly report

• US commercial real estate investment trends and transaction volume: https://www.altusgroup.com/featured-insights/cre-transactions/
• US commercial real estate investment sales - pricing and pacing: https://www.altusgroup.com/featured-insights/cre-transactions/pricing-pacing/
• US commercial real estate investment sales - property sectors: https://www.altusgroup.com/featured-insights/cre-transactions/property-sectors/
• US commercial real estate investment sales - markets: https://www.altusgroup.com/featured-insights/cre-transactions/markets/

The 5 US cities for retail investing that are most likely to outperform benchmarks - https://www.altusgroup.com/insights/5-us-cities-for-retail-investing-to-outperform-benchmarks/

CRE market hits lowest transaction count since 2011

https://www.globest.com/2024/11/21/cre-borrowers-split-on-financing-outlook-despite-improving-economic-conditions/

Commercial real estate recovery hinted at in report

https://www.mpamag.com/us/specialty/commercial/commercial-real-estate-recovery-hinted-at-in-report/516261

CRE investment falls to decade low, but that could soon change

https://www.bisnow.com/national/news/capital-markets/report-finds-cre-investment-has-hit-a-decade-low-but-that-could-soon-change-126978

Leave us a message! - https://www.speakpipe.com/CREexchange

Email us - [email protected]

Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Co-hosts Omar Eltorai and Cole Perry are joined by Mat Dellorso, Managing Director of SEI, and Co-Founder of the Altigo platform (acquired by SEI) and WealthForge. Mat shares his entrepreneurial journey in finance and technology and discusses the challenges, opportunities and explosive growth of alternative investments and the private market. He also explains how innovative tech is providing better access for individual investors and financial advisors to the private market, offering a wider set of options for these parties to diversify and fortify portfolios with commercial real estate investments and other alternative investments.

Key Takeaways:

(02:41) Mat Dellorso’s background and early career.

(04:27) Founding WealthForge.

(06:42) The growth and evolution of WealthForge.

(11:00) The acquisition of Altigo by SEI and Impact.

(21:25) Private market size and potential.

(24:19) Current trends in alternative investments.

(30:09) Private market challenges for financial advisors.

(32:27) Current and future role of alternatives and private market investments.

Resources Mentioned:

Omar Eltorai -

https://www.linkedin.com/in/omareltorai/

Cole Perry -

https://www.linkedin.com/in/coleperry1/

Mat Dellorso -

https://www.linkedin.com/in/mathewdellorso/

SEI | LinkedIn -

https://www.linkedin.com/company/sei/

WealthForge | LinkedIn -

https://www.linkedin.com/company/wealthforge/

SEI Altigo -

https://www.altigo.com/

WealthForge -

https://www.wealthforge.com/

Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property