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Real Estate Acquisition Volume on Fast Track, But Leases Slower to Rebound
Real estate acquisitions and sales are on the fast track, even in this pandemic environment. After a bit of uncertainty at the very beginning of the pandemic last year, deal volume not only resumed, but increased substantially. More than that, the speed at which clients want to sign and close deals has increased, with the time to draft, negotiate and finalize contracts becoming shorter as 2021 progressed. Contrast acquisitions and sales with commercial lease transactions, which have not only taken longer to rebound in terms of volume — but are also taking longer to negotiate and finalize. This article explores the factors influencing these vastly differing tempos.
Acquisitions and sales are driven by a variety of market factors, not the least of which is product type. With the great increase in Internet sales that resulted from the lockdown, the need for warehouse space and last mile delivery facilities has put these types of facilities at a premium. Also, multi-family housing has been strong, locally and elsewhere. Office and hotel properties may be more opportunity-driven for buyers who want to repurpose those facilities or have plans for upgrades and remarketing. As in any real estate market, in-demand properties may sell at a premium, with greater demand resulting in more competition.
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When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.