As Norm Nichols, national business leader of Project Finance and Affordable Housing Divisions for KeyBank Real Estate Capital, looks at the year ahead, he's keenly aware of the risks lingering in the market.
Whether it is market risks around primary, secondary and tertiary markets or the outlook for the various property classes, there is a lot of uncertainty in the market. Some of these concerns, like the rise of e-commerce, were around even before COVID. Once COVID hit, that transition accelerated.
In its lending portfolio, KeyBank has essential retail, like groceries and drug stores, that help buffer it against some of these trends. To further protect itself against the rise of e-commerce, it has added retail spaces with an experiential focus to its portfolio. But COVID has also exposed issues within this segment.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
