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.)
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Investment Services
Today's market demands more from real estate valuation and consulting than ever before. With all the factors confronting the industry including financial, legal, economic and regulatory changes, investors need a consulting team that combines expertise in complex valuation processes with hands-on national and local experience.
Real Estate Research Corporation (RERC) is qualified to meet this need. Our valuation, consulting and research skills are augmented by over 75 years of experience. We produce timely, well-documented investment analyses that are founded in market fundamentals. Our partners are directly involved with each engagement to make sure that clients are getting the best advice possible from the most experienced individuals in the firm.
Several recent examples of our experience with sophisticated investment analysis include:
Acquisition of CBD office property in San Francisco
Key Issue: Determining rent levels in a decelerating market
Advised lender in loan to Class B regional malls in the North Central market
Key Issue: Risk assessment of Class B malls in second-tier locations
Feasibility study of large apartment complexes throughout the south and southeast markets
Key Issue: Evaluating the supply, demand and future absorption of units in the subjects' immediate areas
Determination of the value of a large, speculative industrial property in a high-demand market
Key Issue: Concluding rent levels and property value when no comparable exists in the market
RERC completes many consulting assignments each month, involving a broad variety of property types. In each instance and in each region, RERC provides the extensive market research and solid investment analysis that an institutional investor needs, which is critical in the current economic environment.
RERC has the experience and the expertise not only to determine if specific investment opportunities are appropriate, but also the ability to locate available opportunities that meet investor needs.