Despite being plagued by headwinds including high interest rates, shrinking demand and declining property values since the start of the covid-19 pandemic, the office sector is starting to see some green shoots as usage and leasing rise.
In this episode, Jim Costello, executive director and co-head of the real-assets team at MSCI, and Ran Eliasaf, founder and managing partner of New York-based real estate private equity firm Northwind, see growing signs of stabilization – and believe this trend is starting to extend outside of class A assets in gateway markets.
Additionally, there is a rise in creative thinking about how to use older properties, including converting vintage office stock to other uses, and even acquiring office properties on a low basis and doing a complete renovation.
For more insights on this, please see PERE Credit's October/November cover story here.
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