CrossHarbor's Richard Flohr had the pleasure of presenting at the #USAConference 2024!
#USAConference 2024 The Great Office Reset will feature short presentations and discussions, offering insights from an equity perspective by Walter Schmidt, Senior Partner at Rockwood, and a debt perspective presented by Richard Flohr, Managing Director at CrossHarbor Capital Partners. Walter begins with the statement: "The office market is not doing well." There are various reasons for this. 2023 was the year of investor and lender pullback. Today we have illiquidity and value erosion. In other words, 2024 must be the year of reframe the office. Walter says now is the time for activities. Waiting for market corrections is dangerous. The bad news: over 50 % of US office property (Tier 4) is obsolete. For future investment locations, it is therefore very important to pay attention to the "health" of the cities. An exciting insight from Walter into the current challenges for investors and how they should deal with them. Now it's time for Richard to share his perspective on the office market. Richard says: "Office sucks." But also: "The dead live longer." He takes us on a case study that shows that it always depends on the individual case and what you make of it. In this case, using the example of a Class "B" building at an A+ location. One of the most important drivers was to create amenities for the tenants that did not previously exist. Very exciting indeed! Thank you Richard! This is followed by an exciting discussion with Walter and Richard, moderated by David Rückel. There really is a fundamental change and we need time to deal with it properly. Thank you all for this inspiring insight into the opportunities that still exist in the office segment! #FondsForum #USRealEstate #Investments #USInvestments fiveandfriends
