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The apartment sector has had an incredible run since the Great Financial Crisis, and now apartment construction is at a 42-year high. Alas, the market is finally showing signs of slowing, with cap rates compressing to record lows. Still, many investors reason that much pent-up demand still exists among millennials. What's more, the stigma of renting has subsided. Loretta Clodfelter, editor of Institutional Real Estate Americas, joins us to discuss the story, written by IREI editorial director Larry Gray for the November 2016 edition.
Geoffrey Dohrmann, founder and CEO of Institutional Real Estate Inc., talks about the company's first-ever editorial advisory board meeting for Real Assets Adviser magazine, the company's most recent of its nine publications. The board meeting is scheduled for Nov. 9-10 at The Peninsula Hotel in Midtown Manhattan.
There are industry observers who say that hotel fundamentals have never been better, that we are living in a golden age of hoteling. If that is the case, what are the forces that have driven the hotel market to new heights? How has the hotel business managed to do this in the midst of the Airbnb onslaught? What is the No. 1 complaint from hotel guests? And how big a role do hospitality sites such as TripAdvisor play in a hotel’s reputation? For answers to those questions, we turn to Tyler Morse, CEO and managing partner of MCR Development, an organization that owns and operates 82 U.S. hotels in 21 states, totaling about $2 billion in hotel assets under management.
With many observers expecting a market correction in 12 to 24 months, real estate investors and managers indicate they are moving their portfolios to a defensive posture. But how do managers and investors effectively play defense? What property types and markets are most durable and most vulnerable? To discuss those and related questions, we turn to Scott Darling, president of American Realty Advisors and the person in charge of investment strategy for the firm’s largest commingled fund.
Real estate investors are currently juggling two industry absolutes: New buildings must be built, and the real estate cycle must eventually turn. What makes development so risky at any point in the cycle? Does development risk differ across property types? What methods are available for mitigating risk? And what role do advancements in technology play in driving new construction? We talk with contributing reporter Reg Clodfelter, who recently authored a feature story on the topic, about the answers to those questions.