Dennis Steigerwalt

In today's Commercial Observer article "Proptech Firms Find Their Niches, Including Senior Housing" by Philip Russo, Infinityy CEO Jim Schoonmaker discusses the pain points surrounding decision-making in senior living. "In the senior housing space, decisions are rarely made by a single individual," said Schoonmaker. "...senior living facilities are using Infinityy's technology to facilitate that sort of decision making, which accelerates the overall transaction process for them." Also featured in the article, Christophe Rimann, co-founder at Juniper Behavioral Health, Honghao Deng, co-founder of Butlr, Charlie Matthews, founder and CEO of House Analytics, Regan Hartley, director of global real estate at Xeal, and Jake Broder Fingert, and managing partner at Camber Creek, who also mentioned portfolio company, PetScreening. #proptech #seniorliving #technology #leasing https://lnkd.in/egarS97E

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Thrilled to see House Analytics featured in Commercial Observer 's : Proptech Firms Find Their Niches, Including Senior Housing! 📰 Our CEO, Charlie Matthews, shares insights on the growing demand for student and seniors housing and how our platforms are revolutionizing the industry. Proud to be driving efficiency and innovation in both student and senior housing. Check out the full article here: https://lnkd.in/egarS97E #StudentHousing #SeniorHousing #DataAnalytics #HouseAnalytics

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Evolution of Community Engagement: New Approaches to Building Support for RE Developments. Evolve hosted a very informative and worthwhile event today. (Yep, they’re still carving a highly needed path in CRE.) Developers increasingly find themselves in choppy waters by not involving the people that live in proximity to a project early on. If they had enlisted a neighborhood outreach at the onset, the inclusion and communication could accelerate the timeline and calm the seas. Communities are willing to mobilize and collectively voice support for a desired concept, company, or a Culinary Dropout. And “interaction with the neighbors is as if not more important than the quality of your development” Brennan Ray, zoning attorney. Collaboration at the onset is key. But what do you do when the faceless adversary, aka social media, spreads misinformation that complicates the process with bad intel? Use social media to provide facts and bring transparency to dispel bad press. If possible, create a website that gives facts, data, summaries, traffic studies, site plans…most of which can be found via public websites anyway. Everyone’s voice is important. Grass roots community outreach is a collaboration worth the time and effort. #community #engagement #communityoutreach #development #cre #arizona Evolve Ventures, LLC Women in Commercial Real Estate - #womenincre Phoenix Business Journal GPS Commercial Advisors

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The most-read story from the previous week's Developer's Digest®, published by Crain's New York Business, covers office-to-residential conversions gaining traction in New York City as a solution to the housing shortage and office surplus, bolstered by a new state budget tax incentive. The Adams administration has launched a portal on the Department of Housing Preservation and Development's website detailing the program, which starts accepting applications later this year. Projects must begin between 2023 and July 2031 and be completed by December 2039, offering tax benefits lasting up to 35 years based on the project start date. To qualify, conversions must include at least six residential units, with 25% of the units being permanently affordable for households earning up to 100% of the area median income. At least 5% of these affordable units must serve households earning no more than 40% of the area median income, and the overall affordability average must not exceed 80%. Additionally, half of the affordable units must be two-bedroom units or larger, and no more than 25% can be studios. Conversions can occur citywide, with more substantial tax benefits for projects in Manhattan below 96th Street, where they will receive a 90% tax exemption initially, decreasing over time. To read more stories like this and to stay on top of the most recent news from the development world, subscribe to our Developer’s Digest® using the link below: https://bit.ly/3Qg1qXV #digest #dsa #nyc #weknowzoning #deveopmentsites #developmentnews

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HappyCo Debuts Open API Marketplace for Multifamily Operations Learn more & get our take 👇 https://lnkd.in/dFsUM4jT “A common complaint from owners and operators across the nation is that there are too many systems struggling to connect and talk to one another for their teams. Technology vendors, on the other hand, cite exorbitant fees just to integrate with these systems. At HappyCo, we believe in continuously driving the industry forward. We are excited to introduce an open ecosystem that is free for partnered vendors to integrate and work together, providing owners and operators a 'single pane of glass' interface to drive operational efficiencies across their organizations.” — Jindou Lee, CEO at HappyCo "Wreno and HappyCo share the same dedication to centralizing and streamlining critical property management processes. By integrating each piece of the vendor relationship, from compliance checks to onboarding and sourcing new vendors, operators will have a unified platform to manage all of their maintenance needs, whether in-house by technicians or through third-party companies.” — Charlotte Schell, CEO at Wreno “A centralized, automated approach to operations streamlines processes and helps our teams work smarter, not harder. With HappyCo, automated scheduling and real-time dashboards are accelerating maintenance response times, driving resident satisfaction and a stronger bottom line. The visibility we gain into asset management through Centralized Maintenance empowers proactive, data-driven decisions." — Owen Fleming, Director of Capital Projects at HNN Communities "Centralization puts data at our fingertips, which continues to optimize operational efficiencies. Much of that vital data comes from maintenance, especially work orders. Centralized Maintenance provides the data visibility to identify CapEx needs across our entire portfolio." — Mylisa Rostel, CEO at Anchor NW Property Group "As new solutions emerge, HappyCo Plugins enable streamlined access, helping customers stay ahead of the property technology curve while at the same time lowering adoption curves and the time, cost, and complexities spent on change management.” — Ben N., Chief Product Officer at HappyCo #api #multifamily #SoRENews

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Fascinating read on the capital improvements needed to modernize a public #infrastructure project--and no, it's not a toll road or port. It's the 113-acre Hunts Point Produce Market in #NYC--"a combination rail yard, truck depot and trading floor that quietly supplies about 60% of the city’s fresh groceries" or $2 billion worth of fruit and vegetables annually. Set up as a coop with members paying rent to the city, the South Bronx market is buckling without more physical space: trucks have grown much larger and taller over the decades and have "become an awkward fit." With the site's electrical grid maxed out (and a need for climate control), sellers keep anywhere from "600 to 800 refrigerated trucks running their diesel engines nonstop while 2,000 more trucks roll in and out of the market daily, all of them spewing black soot into the air." One unintended consequence? Children in the South Bronx are up to 6x more likely to be hospitalized with asthma than the average American child. Trucking and consolidation may have made the need for improvements less visible... many markets moved away from cities to less expensive locales (facilitated by the interstate highway system) and many large #retailers source produce from farms directly, cutting out the wholesaler. (The four largest retailers--Walmart, Kroger, Costco and Albertsons--now account for 44% of grocery sales. In 1987, that figure was just 17%). Can public investment save the day or is there a role for the private sector? https://lnkd.in/eWtWNT_Q

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Ken Semler with #impresamodular (www.impresamodular.com) is always providing fantastic insight. This one below applies to everyone in construction. We use AI to help builders analyze their business in many ways: better purchasing, adding warranty chatbots, scheduling, marketing content creation, lead scoring...even analysis to show where to put your next modular factory. We always start with a simple business strategy casual conversation. Contact Erik for strategy: erik@builderchain.io

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Maximize your financial prosperity and put your money to work through strategic CRE investments – our area of expertise at Integris Ventures! Our team prioritizes these key attributes in each investment decision before pressing forward: 1️⃣ Prime location 2️⃣ Functionality and efficiency 3️⃣ High-quality standards 4️⃣ Basis-driven approach 5️⃣ Liquidity considerations This metric enables us to build consistent and enduring returns for all our partners and stakeholders. Partner with us for the future! Learn more: ▸ www.integrisventures.com #IntegrisVentures #RealEstateOperator #Wealth #Prosperity #InvestmentPortfolio

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According to a recent Bisnow article by Taylor Driscoll, the first half of this year was supposed to be when interest rates began coming down, providing a lifeline to struggling commercial real estate owners. But it now appears the Federal Reserve may not be coming to the rescue anytime soon. 📈 High-interest rates profoundly impact the commercial real estate sector, particularly influencing borrowing costs, investment returns, and overall market dynamics. As rates climb, the cost of financing or refinancing properties escalates, potentially stifling new projects and pressuring existing owners with variable-rate loans. Conversely, the enduring high rates can freeze less capitalized owners out, leading to distressed sales or foreclosures, which can alter market values and create opportunities for well-capitalized investors. Integrating artificial intelligence (AI) in this sector could be a game-changer, offering CRE owners and investors tools for better asset optimization. AI can enhance decision-making processes through predictive analytics, improve operational efficiencies, and enable more personalized tenant experiences, thereby maximizing asset values even in challenging economic climates. Trends in commercial real estate influenced by interest rates: 1️⃣ Increased adoption of AI and technology solutions for asset management. 2️⃣ Growth in distressed asset sales and foreclosure rates. 3️⃣ Shift in investor focus towards more resilient asset classes. Link to article: https://lnkd.in/gdkaATBH Learn more at realsage.com Tags: #proptech #cre #multifamily #ai

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Architects: Catalysts for Urban Multifamily Success In competitive urban markets like Philadelphia, development-minded architects are essential for boosting returns and enhancing tenant retention for multifamily assets. Here’s how they make a difference:   Increasing Returns: 🔹 Maximize Space: Clever designs optimize every square foot, boosting rental income and property value. 🔹 Reduce Expenses: Efficient layouts cut construction and maintenance costs. 🔹 Green Technologies: Sustainable materials lead to tax credits and attract premium tenants. 🔹 Operational Value-Add: Implementing additional income streams can significantly increase NOI: ·       Valet Trash: Adds convenience and income. ·       Package Lockers: Secure package delivery can be a premium feature. ·       Bike Storage: Appeals to urban tenants and adds value. ·       In-Unit Laundry: Highly desirable feature that can justify higher rents.   Enhancing Tenant Retention: 🔹 Wellness-Focused Design: Amenities like fitness centers and green areas improve tenant satisfaction. 🔹 Modern Amenities: Rooftop decks and coworking spaces attract long-term tenants. 🔹 Adaptive Layouts: Flexible, efficient unit designs meet modern urban living needs. 🔹 Larger Windows: More natural light makes units more marketable and attractive.   Strategic Site Evaluation: Engaging an architect early ensures optimal site use, tailored to urban constraints and opportunities. Architects guide the entitlement phase, help select the right zoning, and optimize the site layout considering natural elements and regulatory constraints.   Navigating Market Trends: According to the "Emerging Trends in Real Estate 2024" report by ULI: -Higher mortgage rates and rising costs of land, materials, and labor make development challenging. An architect can help mitigate these costs through innovative design and efficient use of space. -Despite current market volatility, long-term demand for multifamily housing remains strong. Architects can design flexible and adaptive spaces that cater to evolving demographics and lifestyle trends.   Urban settings require innovative solutions to meet market demands. Development-minded architects stay ahead of trends, designing spaces that resonate with urban dwellers: 🔹 Smaller, Efficient Units: Ideal for city dwellers. 🔹 Rooftop and Amenity Spaces: Enhance property appeal. 🔹 Smart Technology: Meets modern tenant expectations. Development-minded architects are strategic partners, enhancing the value and performance of multifamily assets. By leveraging their expertise, property owners can achieve higher returns and foster a community that retains satisfied tenants. Let’s connect and explore how we can elevate your next multifamily project! #CRE #MultifamilyRealEstate #UrbanDevelopment #Philadelphia #ValueAdd #Architects #NOI #TenantRetention #GreenBuilding #InvestmentStrategies

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Maximizing Useful Space, Implementing Tech: Multifamily Developers Balance Smaller Units with High-Quality Amenities The multifamily industry faces a major challenge. Final construction costs have grown 33 percent since 2019 interest rates and operational expenses are sky high; and rents may need to increase, where possible, to make deals feasible — an off-putting reality for residents. One developer solution is smaller apartments, which make units cheaper. There is also a push to add more common-space amenities that are both valuable and less costly to include. These features include rooftop spaces, green areas and decks. However, to make these spaces truly usable for today’s multifamily residents, it is important to make them technologically flexible and to offer easy internet connection. With expert insight from Eran Dor, Bryan Rader and Robert Gonzalez. https://lnkd.in/g-_bR__j Sponsored by Pavlov Media #cre #commercialrealestate #multifamily #amenities

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This article is totally on point, we have to accept our new financing reality and come up with a new set of tools, it can’t be business as usual. #affordablehousingchallenges #cmcdevelopmentgroup

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Kimberly Byrum (formerly Fiala) of Zonda shares a compelling outlook for the multifamily sector in 2024, revealing both challenges and opportunities ahead. Discover how housing shortages and strategic investments could shape the market and why now is the time to prepare for future demand in Greystone's latest insights article: https://bit.ly/3Vcs6e4 #Greystone #Insights #MultifamilyFinancing

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Still reflecting on the great conversation with Dan Tangherlini, Ilan Zachar, and Michael Broder during the ULI Washington Technology Panel last week. The panel shared their expertise and experience on how to advance the application of technology across businesses and real estate investments. Thank you to each of them for bringing their candor, humor, and can-do attitude to the stage. A few takeaways from the discussion to share with you. 🎤 Use technology as a tool to engage with your stakeholders and gather information on how to deliver better results - both human and investment results. 🎤 AI is here to stay. Yes, even in #CRE. We are past the IF and on to the HOW, WHERE, and WHEN you will engage with it to meet your business needs. #GoodNewsFriday 🎤 Find a better way by innovating and deploying technology to solve problems and meet goals. 🎤 Check out Sycamore & Oak, your day will be better because of it. Carr Properties | Emerson Collective | RCKRBX | Feroce Real Estate Advisors #proptech #smartbuildings #leadershipmatters

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Multifamily housing is the answer to our growing urban landscape. As cities become denser, the demand for affordable housing skyrockets. With population densities on the rise, developers are turning to multifamily prototypes for efficient, cost-effective solutions. Discover more about DKLEVY's approach to multifamily design in our eBook: https://lnkd.in/gj6a_7yF

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The healthcare industry faces challenges and market perturbations. That’s having impacts on CRE property owners and investors. A shift from inpatient to outpatient treatments, and the rapid development of outpatient office buildings, are an important example. Then there is a report from DPR Construction, a major self-performing general contractor (they largely have all in-house crews rather than using subcontractors), that caregivers find themselves having to consider scale to “evaluate the best path forward to support patients and caregivers, and create financial sustainability.” The healthcare systems manage larger portfolios of real estate. DPR suggests four different ways to manage those holdings: Rationalized portfolios Redistributed portfolios Re-envisioned portfolios Refocused portfolios Read more:

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Our Co-Founder and CRO, Gaurav Madani, recently shared his thoughts on Entrata’s decision to implement API fees as a step towards a more robust ecosystem. “The truth is, advancements in technology come at a cost. According to industry research, nearly two-thirds of technology companies rely on fees associated with APIs to drive revenue and fund ongoing improvements. APIs are increasingly recognized as products in their own right, capable of generating significant revenues. This trend is underscored by examples like Amazon Web Services, where APIs contribute substantially to Amazon’s profitability, highlighting the economic impact APIs can have when leveraged as a revenue source. This financial model is not unique to our sector but is a proven practice across various industries where technology plays a critical role.” Tags: #proptech #multifamily #entrata #api

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How Developers Use Mix of Technology, Amenities to Attract Residents The multifamily industry faces a major challenge. Final construction costs have grown 33 percent since 2019 interest rates and operational expenses are sky high; and rents may need to increase, where possible, to make deals feasible — an off-putting reality for residents. One developer solution is smaller apartments, which make units cheaper. There is also a push to add more common-space amenities that are both valuable and less costly to include. These features include rooftop spaces, green areas and decks. However, to make these spaces truly usable for today’s multifamily residents, it is important to make them technologically flexible and to offer easy internet connection. With expert insight from Eran Dor, Bryan Rader and Robert Gonzalez. https://lnkd.in/g-_bR__j Sponsored by Pavlov Media #cre #commercialrealestate #multifamily #amenities

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