{"id":1004649693,"date":"2023-03-06T04:54:04","date_gmt":"2023-03-06T12:54:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004649693"},"modified":"2023-03-07T11:51:07","modified_gmt":"2023-03-07T19:51:07","slug":"amid-uncertainty-optimism-reigns-seyfarth","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/amid-uncertainty-optimism-reigns-seyfarth\/","title":{"rendered":"Optimism Reigns Despite Uncertainty, Seyfarth Survey Finds"},"content":{"rendered":"
\"\"<\/a>

Photo by MarandaP via Pixabay.com<\/p><\/div>\n

Despite concerns about high interest rates, inflation, a recession and a new workplace dynamic, most CRE executives are relatively optimistic about conditions and especially opportunities over the remainder of this year, law firm Seyfarth<\/strong> has reported, based on its eighth annual Real Estate Market Sentiment Survey<\/a>.<\/p>\n

In fact, the report says that 69 percent of survey respondents \u201csee 2023 as a year of opportunity.\u201d<\/p>\n

While that might seem to be a case of bad arithmetic\u2014like adding -2 and -2 and coming up with 5\u2014the report explains why this makes sense.<\/p>\n

To a significant degree, it\u2019s the opportunities<\/a> that respondents see in distressed assets. Overall, 48 percent of all respondents plan to invest in distressed assets this year, while nearly 60 percent of the respondents who view 2023 as a year of opportunity also plan to invest in distressed assets.<\/p>\n

\u201cFor those with money to spend, the decrease in debt availability and rise in financing costs may lead to falling asset values in the market and could explain why, despite these challenges, they see 2023 as a year of opportunity,\u201d the report explains.<\/p>\n

According to a prepared statement, Paul Mattingly, chair of Seyfarth\u2019s Real Estate department, the survey\u2019s respondents are experienced and understand this part of the cycle, which explains their resilience and optimism.<\/p>\n

\"Ron<\/a>

Ron Gart, Partner, Seyfarth. Image courtesy of Seyfarth<\/p><\/div>\n

Ron Gart, a partner with Seyfarth and chair of its Washington, D.C., real estate practice, added that the commercial real estate community\u2019s understanding of the immediate and long-term impacts of the current economy explains why on the one hand many, if not most, of the respondents consider the commercial real estate sector to be in a recession while being optimistic that the sector will experience a substantial turnaround by the end of the year.<\/p>\n

\n

READ ALSO<\/strong>: Office Sector Faces Increased Risk of Distressed Activity<\/a><\/p>\n

\n

The respondents ranked rising interest rates, inflation and rising costs, and the economic recession (in that order) as their top three concerns.<\/p>\n

A closer look<\/h2>\n

Looking more deeply into the survey findings, 82 percent of respondents expect further interest rate hikes by the Fed. And a 46 percent plurality anticipate a total Fed interest rate hike of 51 to 100 basis points in 2023.<\/p>\n

Further, 71 percent think we\u2019re already in a recession or that one will start before mid-year. Another 17 percent believe a recession will start in the second half of 2023.<\/p>\n

Private equity is seen by 35 percent of respondents as the primary source of equity in 2023, followed by institutional investors, at 27 percent.<\/p>\n

As to product types, 31 percent of respondents see the greatest investment opportunity in multifamily, and 24 percent favor industrial. Perhaps surprisingly, shopping centers are in the number-three slot, at 13 percent.<\/p>\n

The report highlights that \u201csingle-family rentals, which were among the top two investment interests last year, fell to the bottom,\u201d favored by just 2 percent of respondents.<\/p>\n

Seyfarth\u2019s Real Estate department surveyed commercial real estate executives in January 2023 and received responses from 145 professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Respondents see opportunities in distressed assets.<\/p>\n","protected":false},"author":882,"featured_media":1004561549,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,23891,21742],"tags":[44459],"class_list":["post-1004649693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-national","category-latest","tag-seyfarth-shaw"],"acf":[],"yoast_head":"\nOptimism Reigns Despite Uncertainty, Seyfarth Survey Finds - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Despite concerns about high interest rates, inflation, a recession and a new workplace dynamic, most CRE executives see opportunities in 2023.\" \/>\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\/amid-uncertainty-optimism-reigns-seyfarth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Optimism Reigns Despite Uncertainty, Seyfarth Survey Finds\" \/>\n<meta property=\"og:description\" content=\"Despite concerns about high interest rates, inflation, a recession and a new workplace dynamic, most CRE executives see opportunities in 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/amid-uncertainty-optimism-reigns-seyfarth\/\" \/>\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=\"2023-03-06T12:54:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-07T19:51:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/MarandaP_compass-photo_Pixabay_1280x853.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/amid-uncertainty-optimism-reigns-seyfarth\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/amid-uncertainty-optimism-reigns-seyfarth\/\",\"name\":\"Optimism Reigns Despite Uncertainty, Seyfarth Survey Finds - 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