No one fully understands current market values for private real estate in the wake of COVID-19; most believe values have decreased, but the magnitude and duration remain unknown. What factors should real estate investors be looking at to get insight into how property values have already been affected and may be affected going forward? Will increased operating expenses (e.g., new health protocols, rising property taxes) impede NOI at the same time as capital expenditures need to increase, and how might this vary by geography and property type? Where might one look for clues about reasonable cap rate assumptions given a lack of transactions? How does uncertainty around values affect management of an existing portfolio and decisions about new capital outlays? This webinar will consider these issues from the LP, GP, consultant, and appraiser points of view.
Moderator: John Baczewski, President, Real Estate Fiduciary Services LLC
Panelists: Lynne M. Gray, Senior Portfolio Manager, State Board of Administration of Florida
Chris R. Miers, Senior Research Consultant, NEPC
Eric R. Smith, Executive Vice President, L&B Realty Advisors LLP
Meredith Young, Director, SitusAMC