The Real Estate Roundtable

We are proud to celebrate our President & CEO Jeffrey DeBoer for being named one of The Hill’s Top Lobbyists for the seventh year in a row! Jeff’s leadership and advocacy continue to drive meaningful change for the #CRE industry and beyond. Read Jeff’s thoughts:

How are property conversions helping to boost the #CRE industry’s recovery? • Reducing office vacancy rates. Office-to-residential conversion projects remove office space from the market, shrinking excess supply. As of Q3 2024, 71 million sq. ft. or 1.7% of U.S. office inventory was planned for or already undergoing conversion. • Transforming obsolete buildings. Conversions give buildings a new lease on life, turning underutilized real estate into productive assets that can fuel future growth. 73 projects have already been completed in 2024, with 30 scheduled for delivery by year-end. • Revitalizing downtowns. Property conversions bring residential units and people back to urban areas that were hit hard by the pandemic, helping to attract more residents, visitors and businesses. • Expanding the housing supply. Property conversions add new housing units to in-demand areas, helping to alleviate shortages. Since 2016, conversion projects have increased the multifamily supply by 28,000 units, with another 38,000 units expected to be added from projects currently planned. Check out the latest from CBRE on the growing momentum for property conversions: https://bit.ly/3CAVJyW Read more about the #CRE recovery in Roundtable Weekly: https://bit.ly/3OjoYcb

RER’s Real Estate Capital Policy Advisory Committee (#RECPAC) met last month in NYC to discuss the economic outlook, political landscape, and capital markets issues like Basel III that have serious implications for the real estate industry. Thank you to Roundtable Chair Kathleen McCarthy Baldwin for kicking off the meeting, and RECPAC Co-Chairs Bryan McDonnell, Rex Rudy, Miriam Wheeler, and Working Group Chair Michael Lascher for leading such a productive discussion. Big thanks as well to our RECPAC members who provided invaluable policy insights that will help shape the #CRE policy agenda for the year ahead. We look forward to working with the Trump administration and the 119th Congress to strengthen the economy, capital markets, and the commercial real estate industry. Read more: https://bit.ly/4fGxMF7

How should the U.S. tackle the #affordablehousing crisis? 🏡 The Roundtable is advocating for bipartisan policy solutions that will ease housing costs and expand the supply of new #housing. Key priorities include: • Streamline permitting & zoning to accelerate housing projects 🏗️ • Support 🏢➡️🏘️ property conversions to boost housing supply • Strengthen public-private partnerships 🤝 • Expand affordable housing incentives, such as the LIHTC 🏠 We urge policymakers to support these critical reforms to address housing affordability across the country. Learn more in Roundtable Weekly & our Fall Policy Priorities: https://bit.ly/3BZrmlE https://bit.ly/4g30csH #AffordableHousing #HousingPolicy #CRE

America’s energy grid is under increasing strain as demand for electricity surges due to #AI, data centers, electric vehicles, and a growing digital economy. The bipartisan Energy Permitting Reform Act of 2024 (S. 4753), co-sponsored by Senators Joe Manchin (I-WV) and John Barrasso (R-WY), could be a game-changer for our power infrastructure. What’s at Stake? • A Wood Mackenzie report forecasts a 15% jump in U.S. power demand by 2030, putting immense pressure on an already-stressed grid. • Without permitting reform, meeting demand for electricity will only become harder and more costly. • Streamlining permits is essential for launching critical energy projects that will support America’s transition to cleaner and more reliable power. Why Now? Congress has a unique window in its lame-duck session to pass this legislation, which would accelerate energy infrastructure projects and ensure our grid can handle the demands of a modern economy. RER urges policymakers to seize this opportunity to strengthen America’s energy infrastructure for the future. ⚡ Read more in Roundtable Weekly: https://bit.ly/40uv8gR #PermittingReform #EnergyInfrastructure #CleanEnergy

📈 The Real Estate Roundtable’s Q4 Sentiment Index reached a three-year high, scoring 73—an increase of 9 points from last quarter, and the highest since Q4 2021. This upward trend reflects industry leaders’ optimism for a gradual recovery in #CRE as we head into 2025. Highlights include: ● Improved equity and debt capital availability, with 80% of respondents anticipating even stronger capital access next year. ● Positive shifts in office leasing and a renewed return-to-office trend, providing a stable foundation for continued growth. ● High optimism for asset values, with 98% expecting them to increase or remain steady in the coming year. With a cautiously optimistic outlook, we’re encouraged by these indicators of resilience and stability across CRE sectors. Explore the full report for more insights on industry trajectory: https://bit.ly/4eBFhfd #CommercialRealEstate #SentimentIndex #RER

🎙️Recently, our SVP Duane Desiderio joined the Nareit podcast to share essential lessons learned on creating fair and effective #BuildingPerformanceStandards. Duane discussed how collaboration between policymakers and commercial real estate stakeholders is vital for crafting smart policies that enhance energy efficiency and drive decarbonization in #CRE. 🌍🏢 Tune in to learn more about how thoughtful #BPS policy can lead to sustainable progress: https://bit.ly/4hIcQyO #Sustainability #EnergyEfficiency #CommercialRealEstate

Last week, we hosted our Fall Roundtable Meeting, bringing together CRE executives from across the country for an in-depth discussion on the policy priorities that will shape the industry's future. A special thanks to all those who joined and contributed to this critical dialogue. Under the leadership of RER Board Chair Kathleen McCarthy Baldwin of Blackstone and RER's President & CEO Jeffrey DeBoer, we engaged with some of the leading voices in CRE policy, including U.S. Senator Tim Scott, U.S. Representative Richard Neal, Richmond Federal Reserve President Tom Barkin, and political strategist Reince Priebus. Our discussions with policymakers brought invaluable insights into issues that will impact CRE in the coming year. Insights from our Q4 sentiment survey reveal that CRE leaders are optimistic about the industry’s outlook. However, key concerns—such as taxation, housing, and access to capital—remained focal points in last week's conversations. Addressing these issues is essential to driving sustained growth and opportunity in the sector. We extend our sincere gratitude to our speakers for their time and perspectives on these pivotal issues. Their contributions were instrumental in helping our members prepare for the opportunities and challenges that lie ahead in 2025. #CommercialRealEstate #Policy #Growth Fall Roundtable Meeting Recap: https://bit.ly/3Zc6rou

We’re excited to welcome #RER members to Washington, DC, this week for our 2024 Fall Roundtable Meeting, November 13-14! 🏛️ Our gathering comes at a pivotal time and underscores the importance of the items on our agenda. We’ll cover essential topics such as economic and monetary policy, taxation, housing, insurance, sustainability, and more—all critical in the upcoming #CRE landscape. This two-day meeting will feature discussions with influential voices who will provide insights on current and future policy directions. We look forward to an engaging dialogue with members and guests, who bring deep expertise and perspectives on the crucial issues shaping the industry as we approach 2025.

Our President & CEO Jeffrey DeBoer congratulated the President-elect & pledged to work with the new Administration & Congress on compelling issues affecting the nation’s economy, job creation, housing & the health of real estate markets. Read full statement: https://bit.ly/4hIWW7F