Wes Deese

Your #multifamily #NOI is the difference between booming success and watching your profits evaporate. But let’s face it: some traditional tactics to boost multifamily NOI are like clinging to a sinking ship. https://lnkd.in/gCR2zWJ3 #cretech #realcomm2024 #retech #realestatetech #propertymanagement

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Design and amenity trends are reshaping the multifamily housing landscape. Explore the "10 Top Multifamily Design Trends for 2024" to look at the innovations keeping multifamily housing at the forefront of modern living: https://bit.ly/4aaAM92

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Urban and suburban retail 🎯 Savvy investors balance their portfolio but are they looking beyond just the product type? Urban and suburban retail was not very popular 10 years ago but with the world shifting things are looking very different. #cre #commercialrealestate #retail #urban #suburban #realestate

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A must-read for #multifamily marketers! See what really worked for other properties (with photos and results). Read to the bottom to see 8 lesser-known strategies that work. Bonus points if you know any of the marketers quoted! (We're looking at you, Fogelman Properties.)

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“The senior housing industry has seen consistent improvement across key fundamentals over the last 11 quarters…we predict that in the second or third quarter of this year, we’ll be back to pre-pandemic occupancy levels. From a market standpoint, we’re looking ahead with optimism.” NIC’s Lisa McCracken spoke with Michael Bull, CCIM of America’s Commercial Real Estate Show with Bull Realty about industry pressures and headwinds impacting NIC’s positive 2024 forecast. Listen now: https://hubs.li/Q02vbkt_0

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RealPage Market Analytics reported a month-over-month increase in national apartment occupancy to 94.2% in April 2024, the first uptick since February 2022. This positive trend was observed across all regions, indicating strengthening demand following a record first-quarter absorption of over 100,000 units.  #Multifamily #RealEstateTrends

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The labor market I think is still something we do not pay enough attention to when looking at the upcoming impacts to commercial real estate. While U-6 Unemployment seems to be slightly lower than the recent long-term trends, our Labor Force Participation Rate is still lower than pre-pandemic. This along with trends of working from home is just going to continue to change the way we utilize space. There was a recent South Park episode where they were poking fun that everyone in town with degrees was in a Home Depot parking lot trying to sell their knowledge while the rich blue-collar workers) were driving the expensive cars telling the college-educated people to “go learn to fix something”. While the premise is funny, it is interesting that this isn’t far off from where we are heading. With AI advancement, less focus on college but back to certifications, and work from home, we are seeing the make up of our work force change and with that we will see the change in the need and utilization of space in the commercial real estate market. What's your thoughts?

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A huge part of being a commercial real estate broker is the art of matching the perfect tenant with the perfect space. Let's get into the fundamentals of creating a win win for tenants, owners, and your relationships for years to come.

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How are investors and developers navigating today's touch-and-go #multifamily market? Industry leaders weighed in at our second annual State of Multifamily Forum. 🔗 https://lnkd.in/eEWbnvDg #CommercialRealEstate #COMultifamilyForum

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Coming this week from Real Estate News: “Deuces Wild,” a three-part series on the high-stakes battle to be the second-largest home search portal, featuring exclusive conversations with Realtor.com CEO Damian Eales and CoStar Group CEO Andy Florance. #realestatenews #realestate #CEOinsights #exclusive #realestateleaders

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In commercial real estate, pricing cycles are common, lasting about 7-10 years. Focusing on multifamily properties, many trends have followed this pattern. Using CoStar's Commercial Sales Index, this shows the past and current conditions. There was a significant drop in multifamily during 2023-2024. As for March 2024, multifamily prices were down 26% from their peak in July 2022. Factors such as higher interest rates and slowing net operating income are contributing to these declines. Experts are suggesting a potential 25-30% reduction in multifamily property values. https://lnkd.in/ePEAp8G6 - #commercial #commercialrealestate #multifamily #apartmentsnearme

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CoStar reports, in Q1 2024, the U.S. multifamily market witnessed a strong resurgence in demand, absorbing 104,000 units—the highest figure since Q3 2021. Factors such as steady economic expansion and increased consumer confidence contributed to this rebound, prompting pent-up household formation. However, the market’s supply-demand dynamics remained imbalanced due to the completion of 140,000 new units during the same period. Although the vacancy rate rose by 10 basis points, it was the smallest increase observed recently, hinting at potential stabilization. Notably, rent growth seems to be recovering, with national annual growth reaching 0.8%. While most major markets are expected to return to positive rent growth in 2024, some may struggle to reach their pre-pandemic averages, particularly in Sun Belt regions. Read more: https://bit.ly/3QI6LqC #MarketRent #MultifamilyMarket #SunBeltRegions #RentTrends #RentGrowth

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It's time to rethink how we handle the finances behind leasing deals and operations. Often, we see these as separate entities, but wouldn't a more cohesive approach serve us better? Consider the tenant, frustrated over maintenance woes. These might be on their tab, or perhaps they're significant enough to be building-wide concerns. Property Managers, in the meantime, are juggling their budgets, cautious about dipping into Tenant Improvement (TI) allowances or Capital Expenditures (CAPEX). The clock ticks, the issues linger, and we roll the dice, hoping the tenant overlooks the delay in exchange for future TIs to address these problems. But why this gamble? Why not have the Property Management proactively address these repairs, folding them into the OPEX and factoring them into the lease negotiations? Yes, there's a risk—the lease renewal isn't signed, and we're putting faith in the tenant's continued occupancy. But consider the payoff: securing a content tenant at market rates, maintaining the value and desirability of the property. If the tenant decides to move on anyway, that investment isn't lost—it's rolled into the appeal of the space for the next prospect, ensuring we don't just retain our current clients but attract new ones without overextending the operational budget. Let's align our financial strategies and keep our buildings, and tenant relationships, in top form

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Modern Amenities: Five Ways Tech Redefines Multifamily Living https://lnkd.in/e_23C4Y2 #Multifamily #PropertyManagement

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