Our guest today is Raymond Wong, Vice President of Data Operations and Data Solutions with Altus Group. He’s going to take us through current statistics that apply to the four main asset classes as they relate to the COVID-19 pandemic.

 

Industrial, multi-res, retail, and office have all been impacted by the pandemic, but the degree of change has been different for each. Ray talks about these impacts, makes predictions for the recovery of real estate, and reveals what his data is showing will happen later in 2020.

 

Topics covered include:

• How Ray ended up working in this industry and with Altus.
• Holding off on performing industrial transactions.
• Rent deferrals for industrial tenants.
• Unique aspects of industrial space that could help restart sales earlier than expected.
• Seeing the real impact of COVID-19 in the second half of 2020.
• Industrial cap rates remaining flat.
• The impact of the market’s momentum heading into the pandemic.
• Confidence in the multi-residential space.
• Getting back to pre-COVID rent levels.
• Airbnb properties converting to long-term rentals.
• How preparation for a second wave might affect multi-res.
• Retail closures impacting valuations in the market at large.
• Turbulence in retail before the pandemic and how cap rates are reacting.
• Adjustments to the office space needs of companies.
• Reasons for and against the increase of office demand.
• Resiliency thanks to institutional ownership.
• Where Ray’s data points towards for Q3.