Each week, JLL Atlanta presents a roundup of noteworthy commercial real estate stories from a variety of industry publications. Here are four stories that caught our eye recently.
Student Housing REITs Horde Cash to Buy by Bendix Anderson of NREI.
“Student housing real estate investment trusts (REITs) are likely to start buying properties soon—as soon as more properties become available. ‘You’re going to see acquisitions heat up for REITs over the next two years,’ says Scott D. Lamontagne, managing director for JLL’s multifamily capital markets group.”
Sizzling Service Demand Points to Stronger U.S. Economic Growth by Sho Chandra for Bloomberg.
“It shows a good, solid pace of activity,’ said Michael Moran, chief economist at Daiwa Capital Markets America Inc. in New York. ‘Consumers are doing fairly well, and housing is starting to do better. We’ve got a good job market in place. We should get stronger results for second-half economic growth.’”
How Will the Office Market Evolve? by Natalie Dolce of GlobeSt.
“’We need to design and develop more sustainable, timeless, and environmentally sensitive projects that will be more desirable to the millennial-dominated workforce and also be more valuable assets than traditional/old school office projects. The best office developments will be mixed-use projects that celebrate food, entertainment, hospitality, culture, pets, kids, activities, community, and authenticity.’ Sais Russ Parker, co-managing partner of Parker Properties.”
Rising Rental Demand Buoys Multifamily Fundamentals by Calvin Schnure of REIT.
“Demand for multifamily rental housing is rising across all age groups, but especially among Millennials. Since 2007, the homeownership rate among households age 35 to 44 has fallen more than 9 percentage points, and homeownership among households under age 35 has dropped more than 6 percentage points. Older households, in contrast, have experienced much smaller declines in homeownership.”