{"id":1004581166,"date":"2022-05-19T04:40:01","date_gmt":"2022-05-19T12:40:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004581166"},"modified":"2022-12-08T12:58:33","modified_gmt":"2022-12-08T20:58:33","slug":"industry-leaders-take-cres-pulse-at-dla-piper-summit","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/","title":{"rendered":"Industry Leaders Take CRE’s Pulse at DLA Piper Summit"},"content":{"rendered":"
\"\"<\/a>

Industry leaders discuss trends at DLA Piper’s opening session in Chicago. Left to right: Tinchuck A. Ng, Debra Cafaro, Carly Tripp, Michael Byrne and Christopher Merrill.<\/p><\/div>\n

DLA Piper’s<\/strong> Global Real Estate Summit in Chicago launched with a panel of high-powered executives discussing their views of the industry in today\u2019s unsettled, volatile economic climate.<\/p>\n

AEW<\/strong> CIO Mike Byrne set the tone on Tuesday when he referred to an industry observer who a few months ago \u201coffered to give a fear-and-greed speech,\u201d but more recently reported he could only deliver a “fear” speech. The cost of capital remaining structurally higher than what the industry has experienced recently will have an effect on every important decision, Byrne said.<\/p>\n

Christopher Merrill, co-founder, chairman & CEO of Harrison Street<\/strong>, said that amid uncertainty, his firm has focused on student housing, education and health care.<\/p>\n

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READ ALSO:\u00a0<\/strong>Commercial Banks Stay Competitive Yet Cautious in CRE<\/a><\/p>\n

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\u201cWe\u2019ve had four quarters of positive absorption in senior housing,” he added. “We\u2019re very bullish on the senior space. And a big area for us has been life sciences . . . The nice thing for us is if you invest in these niche strategies, you\u2019re not in main cities but really in university and medical cities. That complements traditional real estate programs.\u201d<\/p>\n

Carly Tripp, chief investment officer for Nuveen Real Estate<\/strong>, said that her firm is investing in affordable housing in New York City, argued that gateway cities can\u2019t be ignored.<\/p>\n

\u201cThe activity there has been incredible, and it\u2019s indicative of the flight to quality in gateway cities,” Tripp said, citing Midtown\u2019s One Vanderbilt office tower<\/a> as an example.<\/p>\n

Office flexibility<\/strong><\/h2>\n

The topic of remote work and its impact on the future of the office market spurred considerable discussion among panelists. The pandemic taught the industry that a sophisticated workforce highly values flexibility and independence, said Debra Cafaro, chairman & CEO of Ventas<\/strong>. \u201cSome say two days a week is the right amount of time in the office,\u201d she added. \u201cWe need to learn from and listen to our workforce.\u201d<\/p>\n

But Merrill wasn’t buying arguments in favor of working remotely, saying that collaboration over Zoom isn’t the same as in an office environment, and that younger employees who want to work from home won\u2019t know what they\u2019re missing.<\/p>\n

\u201cWe want to get people working together,\u201d he said.\u00a0 \u201cThe times we\u2019re going to see ahead are going to be tougher. And to get through them we\u2019ll need to work together.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

A high-powered panel weighed in on opportunities and challenges in today’s unsettled climate.<\/p>\n","protected":false},"author":450,"featured_media":1004581183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[33758,33026,44141,43901,34451],"class_list":["post-1004581166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","tag-aew-capital-management","tag-dla-piper","tag-harrison-street","tag-nuveen-real-estate","tag-ventas-inc"],"acf":[],"yoast_head":"\nIndustry Leaders Take CRE's Pulse at DLA Piper Summit - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industry Leaders Take CRE's Pulse at DLA Piper Summit\" \/>\n<meta property=\"og:description\" content=\"A high-powered panel weighed in on opportunities and challenges in today's unsettled climate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-19T12:40:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:58:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/CEO-panel-2_Jeff-steele_featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"966\" \/>\n\t<meta property=\"og:image:height\" content=\"724\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeffrey Steele\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/\",\"name\":\"Industry Leaders Take CRE's Pulse at DLA Piper Summit - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/CEO-panel-2_Jeff-steele_featured.jpg\",\"datePublished\":\"2022-05-19T12:40:01+00:00\",\"dateModified\":\"2022-12-08T20:58:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d331e0059e00242bd623aa07925cd418\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-take-cres-pulse-at-dla-piper-summit\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/CEO-panel-2_Jeff-steele_featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/CEO-panel-2_Jeff-steele_featured.jpg\",\"width\":966,\"height\":724,\"caption\":\"Industry leaders discuss trends at DLA Piper\u2019s opening session in Chicago. 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