Megan Creecy-Herman

#MarketReport - Our Year End numbers are in. In 2024, the Lake Tahoe real estate market demonstrated remarkable resilience and growth. Despite broader economic uncertainties, rising interest rates and market corrections seen in other regions, Tahoe saw median prices begin to stabilize near the peak levels reached during the pandemic surge. In fact, three micro-regions reached record high prices. See the details graphed, plus our complete analysis and predictions in our 2024 Lake Tahoe Real Estate Market Report. https://lnkd.in/gJgdXbfg

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Andrea Pirrotti-Dranchak (MBA), Expansive's Managing Director, recently sat down with Sarah Maffei (Momberg), Vice President at Foundry Commercial, to discuss the evolution of commercial real estate needs and strategies that are used to ensure both immediate and long-term objectives of businesses are met when considering all of the workspace options available today. "Before COVID commercial real estate was simpler. Typically, you’d calculate your space based on headcount. Now, it’s not about having a desk for every person and enough room for private offices. It’s more about collaborative spaces. Some still want a dedicated desk, but most people come to the office to work together. So, offices are focusing more on shared spaces rather than individual offices, which used to be the norm." Click the link to check out the full article, as well as the full video interview for more insights ➡️ https://hubs.la/Q02yJGNh0 #flexiblework #futureofwork #workplaceinsights

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The US office market continues to build momentum after turning a corner in Q2 following five straight quarters of negative net absorption, reports GlobeSt.com on NAIOP's Q4 Office Space Demand Forecast. https://lnkd.in/eQ3KiRQs

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Chronic undersupply of Seniors Housing looming, JLL finds: https://lnkd.in/enCiKbrP cc Anthony Oldfield #btrnews #btr #buildtorent #laterliving #seniorshousing #residential #builtenvironment

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Discover key insights from PRISM 2024! Manus Clancy outlines five reasons for optimism in the commercial real estate market. Learn more: https://lnkd.in/eN5P-6cP #LightBoxRE #PRISMPerspectives #PRISM24 #CRE #CommercialRealEstate

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𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐢𝐧 𝐋𝐨𝐬 𝐀𝐧𝐠𝐞𝐥𝐞𝐬' 𝐌𝐮𝐥𝐭𝐢𝐟𝐚𝐦𝐢𝐥𝐲 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 The multifamily real estate landscape in Los Angeles is currently facing significant challenges and opportunities, reflecting broader trends and local policy impacts. Recently, the failure of #Proposition33 in Los Angeles has spotlighted the ongoing debate around rent control measures. Stakeholders within the real estate sector have expressed relief, arguing that expanded rent control could stymie development and negatively impact property values. This decision is seen as a protective measure for the investment climate, ensuring that development incentives remain intact amid regulatory challenges. However, the market is not without its difficulties. A concerning 29.7% year-over-year decline in new unit completions underscores a deepening housing shortage. This construction slowdown is more than a statistic; it's a critical bottleneck that is exacerbating the housing crisis in a county where the demand for residential space continues to evolve and expand. As new constructions lag, the existing housing stock struggles to meet the growing needs of the population, pushing tenants towards more affordable housing options. This shift highlights a mismatch between the high-end units that have recently come onto the market and what many residents can afford or are willing to pay, given the economic pressures of today's cost of living. This scenario calls for a balanced approach to policymaking and development—one that encourages growth while making affordability a priority. For developers and investors, the current market conditions suggest a strategic pivot might be necessary, focusing on affordability and value to meet tenant demand. As we navigate these challenging times, it's more important than ever for stakeholders to stay informed and agile, ready to adapt to the rapidly changing landscape of #LosAngeles real estate. For more insights into the multifamily market and expert guidance on navigating these waters, follow our page Beyond Space Inc.

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According to a new report from RealPage Market Analytics, markets for apartments in urban cores are catching up with their suburban competitors in terms of both occupancy and rent growth. Read on. #housing #multifamily

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🏙️ Investors are leaning towards amenity-lite urban Build-for-Rent schemes with mid-market rents, according to Cushman & Wakefield's Q2 2024 report, highlighting strong interest in these cost-effective options. Read more about it here: https://bit.ly/3YQeveY #buildforrent #realestatetrends #urbanliving #investmentopportunity #bfr

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Sorry to Say, the San Francisco Office Market is Not Getting Better…just yet A recent article in Bisnow July 8, 2024 cited San Francisco Class-A office vacancy increasing for the 10th consecutive quarter, “as more than a third of the city's office buildings remain empty.  The vacancies, brought on by layoffs and hybrid work, are expected to remain elevated through the end of the year. Placer.ai’s monthly data shows that San Francisco office workers are coming into the office the least of any of the top 10 metros, with visits down 49.2% in June compared to the same month in 2019.”  There ae millions of square feet of tenants looking for office space, but for the most part there is extensive downsizing. I read in another recent article that there are over 1100 Artificial Intelligence companies now based in San Francisco. Then to further depress us in the office building industry, July 9, 2024 headlines in Biznow “Billionaire Investor Howard marks Says 70% Discount On Offices Might Not Be Enough.” Marks is the co-founder of Oaktree Capital Management, “which specializes in distressed lending, and has $192B of assets under management. Forbes places Marks’ net worth at $2.2B.” I went to Google to find out how I could invest in Oaktree but “hey had no individual clients”. Darn! #SanFrancisco; #Office; #OfficeLeasng; #AI; #SIOR

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The Bloomberg article, "Ultra Wealthy Are Putting Money Behind Bets on San Francisco's Comeback" is worth the read. For any CRE property owner/investor that purchases office buildings at a discount a tax appeal can help. * Lower Property Taxes * Improve Cash Flow * Increase ROI (by lowering operating costs through reduced property taxes) * Enhanced Competitive Position (the owner can offer competitive lease rates to tenants) * Better Budgeting & Financial Planning #tax #appeal #California #commercialrealestate

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Armand Tiberio, Vice Chairman of CBRE Affordable Housing, shares insights on how new investors are exploring opportunities in the affordable housing sector. Watch the full conversation with CBRE's Darin Mellott: https://cbre.co/3OgHNwH

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An interesting listen on the latest episode of The Weekly Take podcast. Dive into the complexities and opportunities arising from the city's unique headwinds, which have deterred investors from seizing generational buying opportunities. They discuss the rising influx of venture capital firms, particularly those specializing in AI, and their increasing demand for office space. Understand how AI is revolutionizing San Francisco's real estate scene, from the type of office space needed to location preferences and shorter lease terms. Discover the city's tenants' growing inclination towards high-end, creative, sustainable office spaces and their fondness for adaptive reuse. #RealEstate #AI #FutureForecasting #TenantRep #OfficeLeasing #WeeklyTake

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The SF Fed’s conversations with commercial real estate executives are valuable sources of information about the state of the sector. Through these roundtables, our leaders and economic analysts have been able to combine insights gleaned from economic data with a real-time perspective from practitioners in the field and achieve a richer understanding of commercial real estate in our district. Read this summary of the state of CRE in the 12th District: https://sffed.us/4aShzcN

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Target Investment Strategy: At GBP, our investment strategy centers on acquiring undervalued real estate assets in thriving markets like Southern California. With a focus on ground-up workforce housing developments and value-add opportunities, we leverage our localized expertise to deliver attractive returns to our investors. #VerticalIntegration #RealEstateExperts

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