PENSION REAL ESTATE ASSOCIATION (PREA)

Are you an investor concerned about the impact of oversupply in multifamily properties on total returns? In PREA's latest Quarterly Article, research from Lionstone indicates that while supply plays an important role, long-term rent growth is more closely correlated with household income growth than inventory growth over an investment cycle. Here are some of the key findings: - Forecasting household income growth at metro and neighborhood levels can be a strategic way to position a portfolio for income gains. - Cities with the highest supply often experience the most significant rent growth. - High-barrier markets like New York and San Francisco, with lower supply and rent growth, may not perform as well in the future. As an investor, you should focus on: (1) neighborhood-level income trends, (2) adopting a long-term, granular view, and (3) focusing on household income growth to drive rent growth. Thank you to Hans Nordby of Lionstone Investments for contributing your insights on this important topic. Want to dive even deeper? Check out the full Quarterly Report below. https://lnkd.in/dx5WdrQK #PREA #RealEstateResearch #RealEstate #Research #IndustryLeaders #NewResearch #CRE

Federal funds rate recently cut after a 17-year high. What does this mean for commercial real estate? In PREA's latest Quarterly Article, authors Susan Mello and Mitchell Resnick from Walker & Dunlop discuss how nonbank lenders have stepped in to fill the void left by banks. This means more flexible options for projects that are uncertain or higher-risk. Here is how this helps investors: - As banks tighten lending standards, a financing gap has emerged, allowing private capital to fund projects that might not meet underwriting standards. - More than $2.6 trillion in CRE loans are set to mature in the next 5 years, leading to increased refinancing needs in multifamily. - CRE debt offers compelling risk-adjusted yields, giving investors a more secure position within the capital stack. As the market adapts to this change, it is the perfect time for investors to explore these opportunities and position themselves for growth. Get the full story below. https://lnkd.in/dYGX3kP7 #PREA #RealEstateResearch #RealEstate #Research #IndustryLeaders #NewResearch #CRE

Exciting leadership updates at PREA as we enter the holiday season! We are thrilled to announce that Ani Vartanian, Founder and Managing Partner of Rubicon Point Partners, will be joining Peggy DaSilva from PIMCO Prime Real Estate as the new Co-chair for the Capital Markets Red Affinity Group. Ani brings a wealth of experience and a dynamic personality to the role. As the owner of an emerging manager private equity real estate business, her impressive resume includes positions at the US Department of Treasury, Rockwood, and Goldman Sachs. Ani also holds a bachelor's degree from Stanford and an MBA from Harvard Business School. We look forward to Ani brining her incredible energy and wisdom to the Affinity Group. We also want to extend our heartfelt thanks to Chris Miers from Prime Finance for his years of dedication and success as the Co-chair of the Capital Markets Red Affinity Group. Are you part of an Affinity Group at PREA? If not, it's the perfect time to consider adding it to your 2025 goals! Learn how to join here: https://lnkd.in/dgmv5Myt #RealEstate #LeadershipUpdate #Development #PREA #AffinityGroups #Investment #CRE

Thank you to everyone who joined us in Washington, D.C., for our 34th Annual Institutional Investor Conference! Take a look at some highlights from this memorable event by clicking here. See you in Dallas in March 2025 https://lnkd.in/dK2zYDch

PREA’s Annual Conference concluded on a high note, with an engaging discussion moderated by Sonny Kalsi with Conference Co-Chairs Julie Donegan and Drew Goldman, who spoke about investment committee deliberations, manager relationships, and other key considerations. Many thanks to them and all who attended this year’s conference for elevating an enriching exchange of insights and leadership perspectives. #PREA2024 #PensionRealEstateAssociation #PREAConference

Dan Clifton is emphasizing how financial assets in the US and globally are moving in tandem with the prospects of the US presidential candidates, reflecting the wide disparities between candidates across policy domains with market implications, from trade and immigration to taxes and regulation. #PREA2024 #PensionRealEstateAssociation #PREAConference

What’s the magnitude of residential property undersupply, from the affordable to senior housing categories? Shelley Santulli, Richard Boynton, Anar Chudgar, Inna Khidekel, and Donald Mullen are bringing their deep experience and expertise to this question and its implications. #PREA2024 #PensionRealEstateAssociation #PREAConference

For the latest on data centers and their energy needs, including site selection, capital markets, and what’s on the horizon, we’re hearing from experts Kristina Metzger, Matt A’Hearn, Jonathan Atkin, and Brian Cox. #PREA2024 #PensionRealEstateAssociation #PREAConference

Can GP-led secondaries and recapitalizations offer a win-win for all involved? Sean Brenan, Adam Gallistel, and Nancy Lashine are debating the question in a spirited session moderated by Jeff Giller. #PREA2024 #PensionRealEstateAssociation #PREAConference

How would you grade monetary and fiscal policy in the wake of the pandemic? Dr. Raghuram Rajan is giving his evaluation, in conversation with Edward Luce as their analysis of banking and finance begins. #PREA2024 #PensionRealEstateAssociation #PREAConference