Continuing on the Path to Recovery
In an abbreviated edition of his semi-annual podcast to members of the CCIM Institute, RERC's Ken Riggs noted that while investors remain nervous about the volatility we are seeing in the stock and bond markets, much equity is still sitting on the sidelines "looking for a home." Commercial real estate—and the reduced amount of risk associated with this investment alternative—is looking decidedly more attractive. Even so, investors are taking the time to “get it right” during this prolonged recovery period…
2010 To Be Another Tough Year
RERC's Ken Riggs notes that while institutional real estate has been forced to mark to market and prices are close to bottoming out, the broader commercial real estate market still has a ways to go and it will take some time to "come clean." Listen to Riggs' view of what the industry and investors should expect in 2010 and beyond.
Dealing with a Distressed Market
As the process of repricing and an increasing number of distressed properties create more uncertainty for investors, commercial real estate is facing its greatest challenges since the 1990s. What should investors expect over the near term?
The Impact of Cap Rates on Values
From a pricing and value perspective, the institutional commercial equity real estate markets are facing headwinds that were never imagined a couple years ago. RERC's required cap rates have increased and now stand at 8.4 percent, which is very close to the level recorded in first quarter 2004. The question is, how much further--if at all--will they increase? (The complete article, "Valuation Navigates Steep Cliffs," is provided in the summer 2009 issue of the RERC Real Estate Report.)
Home > About RERC > Managing Directors > Kent D. Steele
Kent D. Steele
Managing Director
Kent Steele (download resume) has more than 20 years of experience in commercial real estate valuation, market analysis, counseling, and expert testimony. He serves as managing director of RERC's suburban Chicago and Florida offices, and has been affiliated with RERC since 1999.
Mr. Steele has completed valuation assignments throughout the U.S., with in-depth experience in the West, Southwest, Midwest, Southeast, Northeast and Mid-Atlantic regions. Assignments have included the appraisal of investment-grade office, apartment, industrial, hotel, self-storage, retail, and special-purpose properties for a variety of clients, including commercial and investment banks, pension funds, conduits, attorneys, investors, and the U.S. Bankruptcy Court. Special assignments have included client counseling activities, market segmentation and feasibility analyses, highest and best use analysis, litigation support, and expert testimony. Additionally, Mr. Steele has published an article on highest and best use analysis in The Appraisal Journal and an article on the self-storage industry in the RERC Real Estate Report, and has given presentations at numerous professional seminars on a variety of topics.
Interesting projects completed include a proposed NASCAR track site in Baltimore County, Md.; the Eagle Ridge golf resort in Galena, Ill.; railroad corridors in northern Illinois; residential condo conversions of numerous properties throughout the country; adaptive reuse assignments for a variety of properties throughout the U.S.; and historically-significant office buildings in downtown Washington, D.C. and Detroit. E-mail Mr. Steele at ksteele@rerc.com.