industry that is going to have to majorly adapt is brokerage. I see the comeback happening in three stages, and the first one is happening right now. We’re already seeing increases in rent collection in industrial, office, retail, hospital - ity—and my favorite—multifamily. As anyone who knows me can guess, I’m particularly pleased about the bounce back in multifamily, which is registering rent collections at about 90 percent. The pandemic presented unique opportunities for me and my investors in the multifamily sector, with even more opportu- nities on the horizon. I’ve also got my eye on office space and industrial, which are both showing signs of promise since they can be more easily reconfigured to suit post-pan - demic needs of business owners. The second stage of the recovery will happen over the next nine to twelve months but it’s going to be a slow process as assets will most likely be reopened in phases and the possibility of additional spikes in COVID cases could disrupt that process. However, I am confident that multifamily will not only stabilize more quickly but strengthen as peo- ple will always need a place to live—just like they need food. The third stage of the recovery won’t come until much later in the distant future as we all adjust to a post-COVID world in which we are prepared for the next crisis, be it finan - cial, viral or something else. As I have said in the past, the major urban markets like New York City, Los Angeles, Chicago, Philadel- phia, Detroit, and Washington, D.C. will be hit harder. This is because employees who are allowed to work from home are flee - ing densely populated cities for the suburbs where they can have more space. As many businesses are making working from home a permanent policy, I see a continuing demand for units in multifamily properties. They offer renters an affordable residence in a clean, modern, and well-maintained environment with premium-grade, onsite amenities in proximity to schools, supermarkets, and retail centers.
10x living at grandview
Stella at Riverstone
4 : : COMMERC IAL REV I EW
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