Which U.S. Cities Are Best Positioned for Commercial Real Estate Investment?



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How do leading experts assess the health of urban areas today? Have U.S. cities survived the pandemic? Can U.S. cities survive pandemic-triggered doom loops? Which metropolitan centers are best positioned to be recipients of foreign commercial real estate investment?

AFIRE posed the question to top academics and commercial real estate executives—and received a diverse and sometimes contradictory host of responses.

“I think what we’re heading into is structural budget deficits,” says Real Estate and Finance Professor Stijn Van Nieuwerburgh of Columbia Business School, mentioning in particular Boston potentially facing a shortfall of between $1.5 to $2 billion.

“Our largest and most systemically important cities in the United States, in particular some of our legacy cities in the U.S.—Chicago, New York, San Francisco—still face significant challenges,” says Sam Chandan, the Founding Director and Professor of NYU Stern’s Chen Institute for Global Real Estate Finance.

Not all of our experts believe the outlook is so dire. “When you look at where the kids coming out of college want to live, the majority want to live in New York, they want to live in Boston, they want to live in San Francisco… major markets that are dynamic, vibrant,” says Ann Cole, Managing Director at J.P. Morgan.

Also featuring the viewpoints of:
Michel Schram, Senior Director, Private Real Estate
Landon Taylor, CEO, MacFarlane Partners
Tal Peri, Head of US, East Coast and Latin America, Union Investment Real Estate
Ted Willcocks, President & CEO, Triovest
Greg Lindsay, Senior Fellow, MIT Future Urban Collectives Lab
Melissa Romàn Burch, COO, NYCEDC
Karen Horstmann, Former Head of Acquisitions, Allianz Real Estate

Register today for AFIRE’s Winter Conference here:
https://www.afire.org/events/

AFIRE POV interviews sum up how the industry’s experts are feeling about the most important topics in commercial real estate investing. Visit AFIRE’s website to learn more:
https://www.afire.org/

Established in 1988, the Association of Foreign Investors in Real Estate (AFIRE) is the association for international real estate investors focused on commercial property in the United States.

AFIRE currently welcomes more than 180 member organizations from 25 countries with approximately $3 trillion AUM in the US.
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Management
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