Eric Sorensen

INDUSTRY NEWS The NIC Senior Housing Analyst Review and Outlook Series inaugural segment provides insights into the senior housing market from 2024 to 2026, emphasizing the gap between construction pace and growing demand. #SeniorHousing #HousingTrends

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Andrea Pirrotti-Dranchak (MBA), Expansive's Managing Director, recently sat down with Sarah Maffei (Momberg), Vice President at Foundry Commercial, to discuss the evolution of commercial real estate needs and strategies that are used to ensure both immediate and long-term objectives of businesses are met when considering all of the workspace options available today. "Before COVID commercial real estate was simpler. Typically, you’d calculate your space based on headcount. Now, it’s not about having a desk for every person and enough room for private offices. It’s more about collaborative spaces. Some still want a dedicated desk, but most people come to the office to work together. So, offices are focusing more on shared spaces rather than individual offices, which used to be the norm." Click the link to check out the full article, as well as the full video interview for more insights ➡️ https://hubs.la/Q02yJGNh0 #flexiblework #futureofwork #workplaceinsights

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The #multifamily sector is experiencing several headwinds, including rising construction and operating expenses, a surge in new supply, rising borrowing costs and, in some cases, falling rental rates – but the outlook for 2024 may not be as black-and-white as it appears. Read more: https://lnkd.in/gSBWaxYA #CommercialRealEstate #CRE #RealEstateTrends

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A recent article from CRE Daily has reported that demand for mid-priced, three-star-rated apartments - a category which Class C Workforce Housing falls into - has surged in 2024, with absorption already exceeding last year’s total. Overall, 3-star-rated properties are outperforming the overall market in many regions. In 14 of the top 15 markets - which include COFI Portfolio Markets Columbus, OH and Washington, D.C. among others - vacancy rates for mid-priced apartment units are lower than the total market average, while rent growth is stronger in 10 of those markets, indicating sustained demand for affordable housing. Read more: https://lnkd.in/e_t_hE6q

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📉 Beyond the Building Boom: Upcoming Shifts in Multifamily Supply While the multifamily sector continues to see elevated levels of unit deliveries in 2024, a deeper look reveals a significant reduction in new unit deliveries projected for 2025. Explore our latest analysis, which highlights key markets poised for the largest declines, indicating a shift in the supply-demand dynamic. 🔗 https://lnkd.in/e2G6ic4V #MultifamilyHousing #MarketAnalysis

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Multifamily performance continued to be robust into July, as advertised rents edged up nationally and absorption remained strong. Rents continued to rise, not only in the Northeast and Midwest, but more recently they have also been positive in many of the high-supply markets where growth is negative year-over-year. That to me suggests demand is strong enough to limit the declines that we have seeb over the last 12-15 months. Does that mean those Sunbelt markets are out of the woods? No, not by any means. Supply growth will continue to be strong for another 12-18 months before it abates due to the paucity of starts, so rent growth will remain weak in high-delivery markets. In Yardi Matrix's latest monthly report, we also discuss rent control and some of the policy considerations brought up in this election year. Whatever works to add more supply is welcome, if not (like rent control) it will only exacerbate the affordability crisis. Link to the report here: https://lnkd.in/eS2efZqW

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D CEO’s popular Commercial Real Estate Awards program returns to honor the region’s top projects, transactions, dealmakers, and industry leaders driving activity in 2024. All finalists will be featured in the April 2025 issue of D CEO and be recognized at an exclusive awards event in March. Past honorees include titans of the industry—Ross Perot Jr., Craig Hall, Lucy Billingsley, Shawn Todd, Jack Matthews, Herb Weitzman, Jonas Wood, and more. Once again, categories have been broken down into individuals/companies and projects/deals. To qualify, projects must have been announced, underway, or completed in the 2024 calendar year. To nominate an individual, company, or deal, click the link below to be taken to the Commercial Real Estate Awards site, which provides links to nomination forms, answers to FAQs, a report on last year’s winners, photos and videos from the 2024 awards event, and more.

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Chronic undersupply of Seniors Housing looming, JLL finds: https://lnkd.in/enCiKbrP cc Anthony Oldfield #btrnews #btr #buildtorent #laterliving #seniorshousing #residential #builtenvironment

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A recent Multi-Housing News news article explores the opportunities and challenges associated with office-to-residential conversions in cities. Michael Doty, Nuveen Green Capital Senior Director of Originations shared that #CRE industry challenges have caused ‘many owners and developers to find inventive solutions to move projects like these forward - and this phenomenon parallels an increased focus on sustainability.’ He said, “This has led many to seek out green financing mechanisms, such as C-PACE, to fund sustainability measures in their reimagined urban properties. This enables them to increase their properties’ energy efficiency and return on investment.” Read the article here: https://lnkd.in/eZswcruV

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Anjee Solanki sat down for an interview with CoStar News on-site at #ICSCLasVegas to discuss the future of consumer spending in America. In the interview with Tony Wilbert, Anjee shares her perspective on how higher wages will boost consumer spending throughout 2024, driving retail sales growth to slightly outpace last year. Discover Anjee's key insights in the full interview, available here: https://ow.ly/siZI50ROkp4

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Discover key insights from PRISM 2024! Manus Clancy outlines five reasons for optimism in the commercial real estate market. Learn more: https://lnkd.in/eN5P-6cP #LightBoxRE #PRISMPerspectives #PRISM24 #CRE #CommercialRealEstate

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According to NAIOP, there is a sense of optimism in the CRE space, with the organization’s CRE sentiment rising above 50% for the first time in 18 months. https://hubs.li/Q02zR1Mj0 Additionally, respondents expect demand for commercial real estate to improve slightly in the next 12 months, spurred by positive outlooks on occupancy rates and effective rates. Are you seeing these trends in your business? And how might they impact your upcoming budget and business planning? #assetmanagement #realestate #cre

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As post-pandemic factors reshape real estate, the multifamily sector faces unique pressures. Managing Director Robert Raymond, Senior Director Laura McLeod and Senior Consultant Chris Lung break down these pressures and explore the trends that could impact multifamily markets in the coming year. Read more here: https://bit.ly/4e3hdBz. #Multifamily #RealEstate #ExpertsWithImpact #FTIConsulting

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☕ CUSHWAKE CONVERSATIONS I REGIONAL OFFICE TRENDS Patricia Staunton and Sean Coyne discuss CAT A contributions and service charges within the context of regional office market trends and their impacts on landlord and occupier clients. Watch the full discussion today >>> https://cushwk.co/3Y5WCbH #CushWakeConversations #RealEstate #MarketTrends #CommercialProperty #PropertyMarket #OfficeMarket #OfficeBuilding

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GREENWOOD CRE ESTABLISHES STRATEGIC PARTNERSHIP WITH REAL ESTATE INTELLIGENCE PLATFORM REAL CLEAR SOFTWARE   NEWPORT BEACH, Calif., November 15, 2024 — Real Clear Software, LLC (“Real Clear”) and Greenwood Commercial Real Estate Group, LLC (“Greenwood CRE”) are proud to announce the new strategic partnership between the companies. Greenwood CRE, a national real estate firm and strategic service provider to many national and regional firms, will integrate Real Clear into its processes to provide a higher level of strategic portfolio understanding, benchmarking and analysis for its clients. Real Clear is a commercial real estate intelligence platform with advanced analytics and automation software that solves the problems of dispersed and uncorrelated data about location performance and lack of cohesion between real estate and operations, finance, and HCM data. Greenwood CRE offers a full suite of strategic advisory and transaction capabilities and deep industry knowledge necessary to help its clients be more successful and profitable by  solving business problems through innovative real estate solutions. Client types include financial, logistics, utilities, professional services, airports, manufacturers, technology and more. Real Clear enables companies with multiple locations to analyze their business from any angle, in real-time. Its predictive analytics and data visualization tools help companies understand how real estate decisions correlate to overall financial performance, and to significantly reduce the manual data entry currently done in Excel or other lease administration applications. Real Clear uncovers new opportunities to reduce costs, improve location-level operations, and increase profitability. Companies with large and small portfolios struggle with data management, consistency, and visualization, which can lead to lapsed updates to location criteria, unnecessary real estate costs, slower decision making, inefficient communication between stakeholders, missed real estate opportunities and, perhaps most importantly, a lack of insight on where and how to grow when it comes to real estate. “Greenwood CRE is excited to partner with Real Clear as we have noticed a gap between available Lease Admin applications and other commercial real estate platforms that doesn’t allow portfolio data to become strategic + actionable and lead to improved alignment with business needs and results. Real Clear provides us with a strategic application to analyze and correlate our client’s portfolio and business data. This allows us to define better solutions faster and with clear underwriting and analysis.” said James Pitts, Managing Principal, Greenwood CRE. “ “We have spent a great deal of time considering national firms for a strategic partnership at this level and with this client base. We view this relationship with Greenwood CRE as a long-term opportunity to learn and grow with each other.” said F. Craig Morris, a Partner with Real Clear.

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Many of the #multifamily markets with the largest amounts of new supply and the most negative effective rent growth are showing signs that they are on the road to recovery and positive rent growth is not far off. Read the full report: https://cbre.co/4e7oQHW #CBREMultifamily

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