By Sharon Poland, director of business development
On Friday, the Omni Hotel in downtown Atlanta will be buzzing with predictions about the 2012 real estate market. Several Hartman Simons attorneys plan to attend ULI Atlanta’s “Real Estate Outlook 2012 – What’s Next for Atlanta”. The Dec. 9 event will take place from 7:30 a.m. to 10:30 a.m.
The annual meeting will feature a panel of leading real estate experts from around the country. Panelists are Dean Schwanke, executive director of the ULI Center for Capital Markets and Real Estate; Doug Sams, a commercial real estate reporter for the Atlanta Business Chronicle; Will Yowell, vice chairman of CB Richard Ellis’ Investment Properties Institutional Group; Lance Patterson, president of Patterson Real Estate Advisory Group; David Hudson, senior vice president at Bank of America; and Kris Miller, president of Ackerman & Co.
There also will be a presentation about the recently released “Emerging Trends in Real Estate 2012,” a publication by PwC and ULI. Now in its 33rd edition, the publication is one of the most highly regarded forecast reports in the real estate industry. The report reflects survey results of nearly 1,000 experts including investors, fund managers, developers, property companies, lenders, brokers, advisors and consultants.
According to the 2012 report, “U.S. real estate players must resign themselves to a slowing, grind-it-out recovery following a period of mostly sporadic growth, confined largely to ‘wealth island’ real estate markets.”
Atlanta was ranked 36 out of 51 cities as an “investment prospect for commercial/multifamily properties.” The report states: “A classic buy-low, sell-high market, Atlanta once again may be ripe for investment.”
Atlanta did not even make the lists for “development prospects for commercial/multifamily properties” or “for-sale homebuilding prospects.” One interviewee said about Atlanta, “We’re a development town with no development.”
For more Atlanta highlights, including descriptions of the soft office market and the sale of condos, read the complete report here.
If you have not registered for this week’s event, there is still time! Check out the registration page on ULI’s website. Hope to see you there!