When he was planning for 2020,Tom Shapiro, President, founder and CIO at GTIS, expected a lot ofheadwinds. What he (and everyone else) got was a full-blownpandemic that has some people mentioning the worddepression.
"Nobody could have predictedCOVID and a complete shutdown of the country," Shapiro says. "Butthere were a lot of clear signs of an economic slowdown, includingpricing starting to decelerate in a lot of areas. We saw a lot ofdata points that the economy was slowing down."
While the economic situation hasdeteriorated in a way that few imagined, Shapiro thinks hispreparation has helped GTIS Partners, a New York-based real estateprivate equity firm, with about $4.5 billion in commercial andresidential assets both in the US and Brazil, stayafloat.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
