SAN FRANCISCO-While near-term uncertainty in the multifamilysector pervaded conversations during the eighth annual PCBCMultifamily Trends conference on Wednesday, the industry remainsconfident in the long-term prospects of the asset class, fueled bystrong demographics and continued investor interest in core, urbaninfill properties.
“This is the worst, most pervasive recession…I have everexperienced in my career,” explained Geoffrey Stack, chairman ofthe event, and managing director and principal of Irvine, CA-basedSares-Regis Group. During a panel at the Moscone Center in downtownSan Francisco entitled, “When and What to Buy, Build or Sell –Experience Talks,” moderated by ALM’s Michael Desiato, Stack saidhe has witnessed five downturns throughout his career.
Unlike past recessions, the latest downturn was a financialmarkets meltdown that impacted the global economy, explained AsiehMansour, chief economist and strategist for San Francisco-basedRREEF, during her economic forecast. “The massive credit crunch isnot only impacting the real estate asset class, but every assetclass,” noting the capital-intensive nature of the CREindustry.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
