Transatlantic Commercial Real Estate Market Developments – Where Are We Now and Where Are We Heading?
As the North American and European commercial real estate industries have been responding to the post-pandemic environment, some changes in development, demand and financing are solidifying and taking hold. At the same time, the definition of the “new normal” for commercial real estate continues to evolve. Join us for an update on the CRE market in Europe and the US.
The collapse of local banks with major RE portfolios, combined with the new hybrid working environment, as well as ESG requirements for developers, owners, and tenants, poses new challenges for market participants. Hear about what the opportunities are for investors, developers, and tenants in this new normal era.
Discussion topics will include topics like:
• The Office Sector
> Tenant departures and failures.
> Decreased demand for physical space.
> New and renewing tenants are seeking smaller footprints.
> Pre-pandemic loans coming to maturity in a post-pandemic environment.
> Effects of overleveraging.
> Concerned lenders (special servicing, receivers, foreclosures).
> Why every office building cannot be repurposed or converted to residential.
> Because of physical, financial, location or legal impediments.
> Ground lessor concerns.
• The Retail Sector
> Given e-commerce, what physical uses of retail are still viable?
> The increasing non-viability of retail in central business districts that were captive to the now-disappearing office building population.
• The High-Rise Residential Sector
> The one bright spot right now?
> How is the live-work-play model in new residential development impacting the office sector?
> Build luxury or affordable or both? What is the sweet spot?
• Malls and Shopping Centers
> Is repurposing feasible?
> What new uses are being explored? (medical, data centers, etc.)
• Hospitality Sector
> Rebranding
> Competition from Airbnb
• Warehousing and Distribution Hubs
> Growing needs, location considerations, financial feasibility.
> Is there a role for empty central business district office buildings?
• How has the Lending Community Responded?
> Has the 4 years been “just a cycle” or a permanent reset?
> How are they looking at risk in the current environment?
> Have they been supportive of conversions and repurposing of existing assets?
> Effect of interest rate changes on recent real estate lending.
> Foreclosures: changes since the pandemic.
• Final Thoughts
> What markets and industries have seen the greatest gains in return-to-work?
> How might the election outcome might affect commercial real estate?
SPEAKERS:
• Jerry Grad, CEO, INTERNATION PROPERTY TAX INSTITUTE
• Annemarie DiCola, CEO, TREPP
• Donald Liebman, Partner, TUCHMAN, WEISS, LIEBMAN & LINDEMANN, LLP [Moderator]
• Yelena Nersesyan, Counsel, LINKLATERS
TIME:
8:30 – 9:00 AM Check-in | 9:00 – 10:15 AM Program | 10:15 – 10:30 AM Networking
REGISTRATION FEE:
EACCNY Members: Free
EACCNY non-Members: Free
Location:
Linklaters Offices
1290 6th Ave
New York, NY 10104