Category: US/Texas CRE News

Finding the Balance: How the Pandemic Expedited Evolution in Property Management

Posted on by Sarah

Property management has always been a feat of balancing the needs of the landlord with those of the tenants. Faced with the challenges of COVID-19, property management has evolved considerably in just two years.

“It’s been challenging. COVID has brought a whole new element to what we have seen in the property management world,” says Branon Pesnell, Senior Vice President and Managing Director of Property Services for NAI Partners in Houston. “We’ve really had to hold a lot of hands for landlords and walk them through this whole process because it’s something that none of us have seen before.”

From issues of building underutilization early in the pandemic to building cleanliness and social distancing as tenants started to return, Pesnell says properties have had to pivot and adjust like never before.

“We don’t have any kind of precedent to go off,” he explains. “It’s definitely been a learning process for everyone involved.” Click to read more at www.rednews.com.

Back in Business, Back in Buildings: How Property Managers are Bringing in Tenants

Posted on by Sarah

When Laura Fishback joined Avison Young as Dallas Market Leader a month before the pandemic shutdowns in 2020, the newest member of the property management team thought she’d have plenty of time to get acclimated.

“It was just the opposite,” she says. “Property management was thrown into hyperdrive.”

At the time, Avison Young had only one building (a 156,000-square-foot Class A+ office building) under management. Flash forward to 2022 and the firm now manages seven office buildings totalling 418,000 square feet, four medical office buildings totaling 167,000 square feet and three industrial sites totaling more than one million square feet.

Fishback credits that growth to being persistent, engaged and truly caring
about the client’s needs. “This is a major differentiator with us: we listen to what our clients need and make it happen,” she says.

As an example, Fishback offers the story of Avison Young-Dallas’ second property management client: Metrocrest Hospital Authority. She cold-called a contact there and hit it off, discussing how they could address and improve the asset’s property management needs. Click to read more at www.rednews.com.

TuSimple, Property Developer Team up to Boost Autonomous Trucking in Texas

Posted on by Sarah

The roads are mostly mapped for TuSimple to drive autonomously in Texas. Now it is up to commercial property developers to get ready for driverless trucks to come and go from warehouses.

Hillwood Investment Properties, one of the largest commercial real estate developers in the country, is taking suggestions from TuSimple Holdings (NASDAQ: TSP) on how to incorporate the needs of autonomous trucks into current and future facilities.

“If you develop a warehouse that has the right setup, like a separate entrance for autonomy, an area where you can put a launching pad and a landing pad for autonomous trucks, this is where the design of these warehouses are to be TuSimple Autonomous Freight Network-enabled,” TuSimple CEO Cheng Lu told FreightWaves. Click to read more at www.freightwaves.com.

Rising Interest Rates and What’s Next for Multifamily Lending

Posted on by Sarah

Multifamily investors are bracing for an uptick in mortgage rates and other forms of real estate finance as the Federal Reserve bumps up interest rates in 2022. As an inflation-fighting move, the Fed plans three hikes of 25 basis points each. And in December, the Fed announced that it would wind down its bond-buying program by March.

But the consensus among mortgage bankers and economists is that increases in the cost of capital will be modest and will not dampen the availability of financing or the surge of investment. Multifamily lending volume will rise 3 percent to $421 billion this year as the economy continues to rebound, the Mortgage Bankers Association projects.

“The change in interest rates is not expected to reduce demand for multifamily housing this year. A lot of demand is driven by property values and fundamentals, both of which are extremely strong right now,” said Jamie Woodwell, MBA’s vice president of commercial real estate research. Strong property income and low vacancy are combining to push valuations upward, he added. Click to read more at www.multihousingnews.com.

New York-Based Brokerage Ramps Up Multifamily Push in Texas, Nationally

Posted on by Sarah

Multifamily is hot in Texas – and across the U.S. – and New York-based Global Real Estate Advisors is pursuing opportunities to buy, sell and finance deals, with new offices.

The company was created as a national platform, combining various local or regional brokerages. Following deals in the Texas cities of Alice, Corpus Christi, Edinburg, El Paso, Harlingen and McAllen, GREA announced it was opening 11 offices nationwide, including three in Texas – Austin, Houston and Dallas – as well as eight cities nationally, including in Miami, New York and Chicago.

Joe James, one of GREA’s founding partners, is currently leading a team of five people working remotely as there is no plan for a physical office in Central Texas. The firm has recruited agents from commercial giants such as Brown Realty Advisors, Greystone SF, HFO Investment Real Estate, National Apartment Advisors and Rittenhouse Realty Advisors. According to a press release from GREA, these brokerages represented more than $4.5 billion in combined sales in 2021.

“This is a market where we are constantly seeing new buyers wanting to get in,” James told the Austin Business Journal. Click to read more at www.therealdeal.com.

WOSB & HUBZONE Firm Survives and Continues to Grow After 10 Years in Emergency Management and Disaster Recovery

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“On our 10th ANNIVERSARY, I am happy to see our firm not just survive but thrive during tumultuous and unprecedented times as we help others to recover. We look forward to continued growth and expansion in each location, including our team and office in Puerto Rico. I am thankful for the addition of new partners and women to the team at PVMA and PVMA GLOBAL. Our commitment to supporting global recovery efforts through professional and humanitarian services remains our highest priority. I see many exciting years on the horizon for Women-Owned Small Businesses.” Laurie A. Robinson

“Over the past year, we have seen America’s small businesses overcome incredible challenges—a devastating pandemic, climate disasters, and other disruptions that have impacted how we live and do business. And every time, against the odds, America’s entrepreneurial spirit has come roaring back.” Isabella Casillas Guzman, 27th Administrator of the U.S. Small Business Administration (SBA.)

Project and Vendor Management Advisors, LLC (“PVMA”)is a women and minority-owned management consulting firm that provides an effective, efficient, and proven project management framework to deliver solutions to large complex challenges. PVMA provides experienced professionals that deliver quality results, on-time performance, and within budget for services related to grant administration, financial audits, compliance and monitoring, case management, and stakeholder engagement. PVMA’s staff of subject matter experts consist of Healthcare, (HUD) housing, FEMA, Emergency Management and Disaster Recovery specialist.

PVMA deploys teams of project managers and subject matter experts across the country to manage capital projects, emergencies, and disasters that impact municipalities, counties, governments, and the private sector. The firm has provided services for some of the largest recovery efforts since 2012 related to Disaster Recovery Financial Management & Reimbursement, Grant Management and Reimbursement Compliance Services, Case Management, FEMA Individual Assistance, Program Management & Housing Programs, and COVID 19 Reimbursement Services.

For More Information on PVMA: //pvmallc.com/services and //pvmaglobal.com.