Episoder
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Stoneshield Capital’s Juan Pepa and CBRE's Adolfo Ramirez-Escudero discuss Spain's economic renaissance, which has engendered bountiful investment opportunities.
Share these insights about investment opportunities in Spain:
Spain has great fundamentals: Gone are the dog days following the Global Financial Crisis. Spain's high economic growth rate has made it an attractive investment destination.Focus on alternative real estate sectors: Some of Spain’s strongest sectors are student housing, life sciences and seniors housing.Renewable energy is in demand: Interest in energy and sustainable infrastructure, particularly around data centers and the industrial sectors, is high.Big pharma has a big presence: A consolidation of big pharma companies makes the region attractive for life sciences investment.It’s a business-friendly environment: Incentive programs and a supportive regulatory environment has drawn inbound capital. -
This week we shine a spotlight on San Francisco, a market that is showing increasing signs of shaking off the post-pandemic doldrums. Listen to a wide-ranging discussion as The Bay Area Council's Jim Wunderman and CBRE's Joe Wallace explore the growing impact of AI on local economy and real estate market, opportunities across sectors, public-private collaborations and the city's budding revival.
Share these insights from this week’s episode:
Tech and AI Potential: The growth of AI is contributing to an economic revival in San Francisco.Office-Space Dynamics: Office leasing improved notably in San Francisco in Q4 2024, driven by its strong tech tenant base.Housing Development: Increasing the availability of affordable housing is vital for maintaining the city's workforce and economic growth.Infrastructure Improvements: Enhancing transportation—including the city’s historic trolley—and other infrastructure systems will support the region's growth.Cultural and Tourism Appeal: San Francisco's unique culture, diversity and lifestyle continue to attract talent and investment. -
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Jamie Hodari, CBRE's CEO of Building Operations & Experience, spotlights where he sees the biggest opportunity across commercial real estate: workplace experience. He discusses how a company’s space can attract tenants and enhance the employee experience, enriching people’s lives and increasing business effectiveness.
Share these insights from this week’s episode:
Everything is operational real estate: Real estate companies are evolving from asset focused businesses to operating platforms, requiring high-quality management relentlessly focused on workplace experience.AI and data utilization are no longer nice-to-haves: Using AI to manage and interpret data is crucial for optimizing building operations.Markets are adapting to accommodate hybrid work models with flexible office usage: Urban markets especially put significant emphasis on making downtown areas vibrant.Finance institutions are catching up: The finance industry must recognize and adapt to the operational nature of modern real estate.Flight-to-quality is expanding: The focus for landlords and occupiers will increasingly be on creating spaces that people find enriching and valuable, not just functional. -
With a twist on the conventional lodging business model, Extended Stay America (ESA) has seen impressive growth in recent years. ESA CEO Greg Juceam discusses managing its real estate portfolio and provides insights on the business of long-term accommodations.
Share these insights from this week’s episode:
Investment Potential: The extended-stay lodging segment offers a resilient and growing opportunity, particularly in secondary and tertiary markets.Operational Simplicity: Extended-stay hotels can benefit from streamlined operations and less labor requirements.Scalability: ESA’s model combines ownership and franchising, enabling multiple avenues for growth and scalability.Diversified Demand: The diverse range of guest demand drivers -- from construction crews to long-term healthcare treatments to digital nomads -- tends to support stable occupancy rates.Strategic Expansion: ESA’s focus on new builds and strategic acquisitions positions it well for future growth, even in challenging capital markets. -
High-net-worth individuals and family offices can be a lucrative, though difficult-to-access source of real estate investment capital. BNY Mellon's Boryana Zamanoff and CBRE's Zaahir Syed and Compie Newman discuss how to tap into funding from family offices and the strategies these investors are employing under current real estate market conditions.
Significant Pool of Capital: Family offices and high-net-worth individuals collectively represent hundreds of billions of dollars seeking real estate investment opportunities.
Access and Relationships: Family offices often do not entertain unsolicited approaches. It's crucial to build trusted relationships with their advisors who act as gatekeepers.
Investment Preferences and Structure: Family offices often prefer direct investments and opportunities where they can have more control and flexibility.
Market Conditions and Opportunities: High interest rates and current market conditions have prompted family offices to invest cautiously with a focus on data centers, logistics and housing.
Evolving Preferences: The preferences of the next generation are critical considerations. Younger family members often prioritize impact investing and newer asset classes.
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Industry experts address the critical topic of property and casualty insurance, a topic that is acutely relevant amid the devastating fires in Los Angeles. AON’s Ryan Barber, Walton Street Capital’s Raphael Dawson and CBRE’s Chris Nassa discuss approaches that can help commercial real estate owners manage risks and stem rising costs.
Share these insights from this week’s episode:
Innovative Modeling: Property owners should adopt a sophisticated approach to risk management, using advanced tools and models to inform their insurance decisions.Captive Insurance: Owners with large portfolios should consider captive insurance and other programs to manage costs and realize profits.Data Accuracy: Providing detailed and accurate information about properties can significantly impact insurance modeling and premiums.Stay Informed: Companies should designate an in-house expert dedicated to staying informed about insurance market trends and innovations crucial for effective risk management. -
Hala Moddelmog of the Woodruff Arts Center and CBRE’s Nicole Goldsmith discuss Atlanta's economic and cultural development, highlighting the role of diverse talent, sports, the arts and entertainment and a welcoming business climate in its rise.
Share these insights from this week’s episode:
Corporate support, cultural institutions and educational resources fuel Atlanta's economic development.The growing preference for mixed-use environments and high-amenity office spaces has attracted global brands and talent.Major sporting events like the 2026 FIFA World Cup and strategic urban development projects will continue to shape Atlanta's global standing.Addressing infrastructure challenges, particularly in the transit system, are key to supporting future growth.One of the most educated cities in the U.S., Atlanta’s ability to retain its diverse, highly skilled workforce is critical for sustained success. -
What will 2025 hold for the global economy and real estate? Selma Hepp, CoreLogic Chief Economist, and Richard Barkham, CBRE Global Chief Economist, discuss where they see opportunities and challenges and a few things to keep an eye on.
Share these insights from this week’s episode:
Despite continued high interest rates, the economy is expected to perform well in the near term, driven by a resilient consumer.Housing sales are expected to remain subdued due to persistently high mortgage rates and ongoing affordability Issues.Real estate is at the beginning of a new cycle with retail and industrial particularly well positioned.Increased insurance costs and property taxes have exacerbated housing affordability challenges. -
Back in June, Belinda Román, 2023’s most accurate forecaster, according to The Wall Street Journal, and CBRE Econometric Advisors’ Dennis Schoenmaker opine on the art, science and technology involved in predicting the ebbs and flows of the global economy.
Insights to Share:
Belinda Román, Associate Professor of Economics at St. Mary’s University, expects GDP growth of 3% this year.CBRE EA’s Dennis Schoenmaker expects GDP to hover around 2%.Even with slower economic growth, there will be opportunities in commercial real estate.Regional, national and global forecasting requires a deep understanding of the available data.In commercial real estate, where information has historically been opaque, future forecasting can be enhanced by AI. -
It's that time of year - when we reflect on milestone moments of our fifth season. 2024 had some major themes including artificial intelligence's impact on commercial real estate, office conversions, evolving market conditions—and re-examine them all, as well as take our beginning-of-the-year economic forecasts to task to see how it turned out.
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Dallas is a dynamic, fast-evolving city whose diversified economy and business friendly policies make it an attractive place for investors and companies. Longtime Dallas developers Lucy Billingsley and Lucy Burns offer insights into the city’s future.
Share these insights from this week’s episode:
Dallas offers plentiful industrial and multifamily real estate opportunities thanks to its rapid growth and economic diversification.Investors and businesses benefit from Dallas' pro-business policies and relatively low tax burdens.Demand for convenience and amenities is driving the trend toward master-planned communities that offer live-work-play environments.Dallas’s growth hinges on continuing infrastructure investment, including transportation and public services to support its expanding population. -
Commercial real estate offers many different career paths. Learning how to overcome challenges and finding the right mentors are key to success in all of them. Trailblazing executives including Laura Clark (Rexford Industrial), Barbara Perrier (CBRE) and Elisabeth Troni (CBRE Investment Management) shared personal anecdotes and sage advice during CBRE’s recent Power of WE conference.
Share these insights on pillars of a successful CRE career:
Lead with integrity:
Making decisions that may be contrary to your immediate financial gain builds trust and loyal, long-term clients.Seek out mentors and feedback:
Mentorship is crucial for career development and informal feedback fosters skill enhancement.Challenge the status quo:
Questioning traditional norms can lead to progress and achievement. Say yes to new challenges and opportunities.Balance flexibility with visibility in the workplace:
Flexible work arrangements can be beneficial, but being present in your professional environment is also key to advancement.Favor unity over separation of your work-life:
Completely separating professional and personal time is hard, whereas embracing work-life unity means emphasizes purposeful engagement while in both spheres. -
Mary Ann Tighe, CEO of CBRE's New York Tri-State Region, discusses Manhattan's ongoing transformation. Drawing on decades of commercial real estate deal-making experience, Mary Ann discusses the resurgent office leasing market, office-to-residential conversions and long-term opportunities.
Anticipated Market Transformation: Investors should prepare for a major shift in New York’s office market, reminiscent of the historic changes that occurred in the 1920s.Long-Term Leases: Despite the rise of remote work, many New York City businesses want to sign long-term leases due to the high costs and complexities of space renovation.Investment Opportunities: New York has significant opportunities to convert antiquated office buildings into residential or mixed-use properties.Government Incentives: Understanding and leveraging government tax incentives can be crucial in making redevelopment projects financially viable.Cultural Edge: New York's creative energy and foremost cultural and social amenities remain a strong draw for people, businesses and capital. This enables the City's resilience and continuous evolution. -
Over 12 million people a month check The Points Guy for tips on making the most of their travel experiences. Brian Kelly, TPG himself, teams up with CBRE’s Hotel Research lead Rachael Rothman to explore the latest trends in loyalty programs, what hotel brands can learn from airlines and credit cards, and how you can get into that airport lounge.
Insights to Share:
Loyalty programs are growing in importance to operators of hotels, airlines and credit cards, many of whom have partnered to increase brand awareness and reach.The proliferation of loyalty program participation is, in some cases, diluting the benefits, but savvy consumers can maximize points by having flexible travel dates and using websites such as point.me to compare redemption value at different airlines and hotels.One way to create brand loyalty is to provide flexibility and a customized experience. Instead of waiting until guests arrive, hospitality brands should reach out in advance and offer access to local guides, spas and restaurants. -
Two tech talent experts—New Enterprise Associates’ Darcy Casarella and CBRE’s Colin Yasukochi—discuss where to find highly skilled tech workers, the role of venture capital in shaping tech hubs and AI’s influence on office space demand.
Share these insights from this week’s episode:
1. Strategic Location Strategy: Emerging tech markets in the Midwest and Southeast can offer significant cost advantages with their growing tech talent pools.
2. AI and Talent Focus: Prioritizing AI capabilities to drive innovation and growth will mean finding and upskilling talent quickly across both tech and non-tech companies.
3. Concentrated Venture Funding: Venture firms are creating a network effect by investing in new businesses in traditional tech hubs like San Francisco and Manhattan. Understanding the flow of venture capital can help predict the cities in which real estate demand will grow.
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Regional economic development leader Victor Hoskins and CBRE’s Cathy Delcoco discuss Northern Virginia’s opportunities and challenges as well as its thriving real estate market.
Share these insights from this week’s episode:
· Northern Virginia is benefiting from substantial job growth, especially in the technology sector, including AI-related roles. Tech job growth supports demand for office space and housing.
· High-quality, amenity-rich office space is seeing strong demand. Tenants are willing to pay a premium for Class A trophy buildings with amenities, despite downsizing due to hybrid work.
· Older office buildings are being redeveloped into residential units or data centers. This represents an attractive buying opportunity for nimble investors.
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Jordan Schnitzer shares the strategies that propelled his family’s business from scrap metals to West Coast real estate powerhouse. Plus insights on building a thriving decentralized business and the benefits of balancing data-informed and gut instinct investment decisions.
Insights to Share:
1. Look at competition as well as returns. Schnitzer Properies’ prefers flex-industrial properties over big-box warehouses because there is steady demand and less competition.
Do more, but be mindful of how much you can do. Jordan Schnitzer refers to his approach as “aggressive moderation.” Over-extending yourself can sacrifice long-term stability.Trust your leaders to use their local expertise. Schnitzer Properies embraces a decentralized business model with local teams empowered to make decisions and grow the business.Embrace data, but don’t ignore your experience. Utilize a data-driven approach combined with gut instincts to make informed and timely investment decisions. -
Clarion Partners’ Drew Fung and CBRE’s James Millon discuss the improvement in market sentiment and a pickup in investment activity amid a brightening interest rate outlook.
Share these insights from this week’s episode:
The Federal Reserve’s initial rate cut improved market psychology and increased liquidity in the marketplace.While banks remain a critical capital source, private debt funds have stepped up their lending at a time when many banks have pulled back.3. Harnessing data and predictive analytics is essential for navigating market complexities and optimizing returns.
4. Investors are primarily focused on multifamily, industrial and alternative asset classes, with data centers emerging as a particularly attractive investment opportunity.
5. The next 18 months are expected to see a gradual normalization of transaction volumes, with opportunities in both traditional and alternative real estate sectors.
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Rob Bernard, CBRE Chief Sustainability Officer, and Miro Sutton, CBRE's new Global Head of Energy and Renewables, discuss the critical role that renewable energy can play in meeting carbon emission-reduction goals and simplify the complexity around implementing and investing in sustainability in commercial real estate.
Share these insights on sustainability and renewable energy:
- Companies should integrate renewable energy and sustainability strategies into their core business plans to remain competitive and resilient.
- The renewable energy market is evolving, with regulatory frameworks playing a significant role. Governments can make it easier to achieve environmental goals by writing clear and understandable regulations.
- Collaboration among technology, business and regulatory bodies can help to drive innovation and advance sustainability initiatives.
- Broader adoption of renewable energy can mean economic and environmental benefits for many companies.
- A holistic approach to sustainability, encompassing everything from energy procurement to building materials, is necessary for long-term success.
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Community opposition can thwart the most desirable—and needed—development projects. Connecticut developer Jerry Davis and CBRE’s Jessica Lall offer tips and strategies for marshalling community support for worthwhile projects and overcoming the instinct to “just say no” to new development.
1. Engaging the community early and maintaining open lines of communication are crucial for real estate developers to overcome community objections. By involving local stakeholders in the planning process and addressing their concerns, developers can build trust, gain allies and smooth the path for project approval.
2. Local governments that adapt regulations to allow for a variety of housing types can ease the "missing middle" problem—affordable housing that falls between single-family homes and large multifamily properties.
3. The affordable housing shortage can provide an impetus for regulatory changes and innovative solutions.
4. Successful pilot projects can demonstrate how local communities can benefit from new development.
5. Collaboration between government and the private sector can advance worthwhile projects that can be derailed by well-intention community opposition.
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