LOS ANGELES—Covid reminded investors that predicting the future is nearly impossible, so understanding the present is key to making informed decisions. Those thoughts came from a "Behind the Deal & Institution Insights" panel moderated by Cushman & Wakefield's Marc Renard at the national GlobeSt. Multifamily conference here in Los Angeles.
According to Renard, we are in an unprecedented era of capital, US suburban expansion markets have all the momentum and multifamily and industrial are pretty much the only game in town. So is this the new normal or just a moment in time?
"The aggressive pricing and capital has been focused on multifamily and industrial. We are at a moment in time in terms of this kind of pricing," said Rodney Chu of UBS Asset Management. With the uncertainty of underwriting other product types such as office and retail, he expects to have capital that continues to be focused on industrial and multifamily in the future. "As you look at these yields and cap rates, I think there will be pressure on investors to broaden their horizons."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
