Valbridge- ULI Capital Markets Conference Re-Cap
October 3, 2017
Valbridge Property Advisors recently sponsored the ninth annual ULI Capital Markets Conference held at Kiawah Island in South Carolina on September 5-6, 2017. ULI is an organization dedicated to developing and maintaining leadership that creates responsible use of land to result in thriving communities worldwide. ULI’s goal and mission is to improve the quality of the places people live. ULI believes this starts with the open and honest sharing of practical experience and pragmatic solutions. This is done through their various leadership and assistance programs and annual conferences.
The 2017 conference included several topics including State of the Market, Senior Housing Trends, Industrial Insights, Repositioning Retail, and a Fireside Chat with Charles P. Buddy Darby III, one of the premier resort developers in the country. Darby has been in the real estate development business for over 30 years. He oversaw the development, sales, marketing, planning, and operations of the award-winning resort community that is Kiawah Island.
The opening keynote for the conference began with Mark Vitner, Managing Director & Senior Economist for Wells Fargo, speaking on the State of the Market for CRE in the Southeast and what the outlook is for the remainder of 2017 and beyond. Vitner shared insight on housing markets, commercial real estate, regional economies, and inflation.
Greg Newman from Bank of the Ozarks was part of the panel of speakers who discussed seizing opportunities in a tight market with creative solutions based on market knowledge and essential real estate fundamentals. Highlighted in this panel was the subject of lenders continuing to tighten reins, causing construction financing to dry up and create permanent debt being subjected to lower leverage and stricter underwriting.
Robert Morgan from Greystar participated in a panel discussion lending perspective as a developer, financer, and operator on senior population expansion and the increased demand happening in senior housing trends. Senior housing is a major growth area in commercial real estate. Longer life expectancy in the U.S. means there will be an increase in the number of senior citizens required to move into a senior living facility.
Sarah Quinlan, Senior Vice President of MasterCard and expert analyst on consumer spending patterns, delivered a speech on global macro spending trends based on real consumer data for the economy and the real estate industry. Sarah also participated on a panel at the conference talking about reposition retail. This topic was necessary for discussion due to the large amounts of department store closes due to the “Amazon effect”. The panel gave insight to the world of retail as a whole and how it will continue to evolve and the importance of gaining and maintaining a competitive edge in the industry.
Valbridge was proud to sponsor the ULI Capital Markets conference. Events like these are one of the many ways Valbridge continuously works to stay abreast of industry trends, providing the highest level of insight and appraisal expertise to our clients.