Commercial real estate is reaching an inflection point where
“valuations will no longer be driven by capital markets.” In 2014, Emerging
Trends interviewees expect “space market fundamentals and property enhancements
to emerge as the primary drivers of total returns,” reducing the reliance on
falling capitalization rates and high amounts of leverage.
According to ULI CEO Patrick L. Phillips, the U.S.
commercial real estate market is gradually “recovering from the recovery” and
will “gain momentum” in 2014. “The
market has progressed further through the economic and real estate cycles,” and
there is “real evidence” of momentum in the marketplace.
See the full ULI Emerging Trends in real Estate Report here…
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