The Real Estate Roundtable

Our President & CEO Jeffrey DeBoer recently joined POLITICO and National Association of REALTORS® CEO Nykia Wright at the #DNC for a productive discussion about how #CRE impacts all Americans, and what’s next for the industry in Washington. They touched on: 🏠 Affordable housing & housing supply 🏙️ Safe cities 💲Jobs & pension plans 📊 Tax policy, and more Take a moment to watch the segment here: 🎥 https://bit.ly/47a4c7H We look forward to continuing to educate policymakers on both sides of the aisle about the importance of CRE and the need for smart public policy that supports a vibrant industry and economy. #affordablehousing #realestate #economy

We welcome the @White House's proposal to streamline the permitting process for housing and clean energy projects involving historical buildings. Exempting these projects from the Section 106 review process is a positive step that will help combat NIMBYism and accelerate the development of much-needed housing and sustainable energy infrastructure. The new rule excludes certain housing conversions and clean energy retrofits from the lengthy Section 106 process if they have a federal nexus through grants, loans, or permits, such as HUD loans, DOT loans, DOE loans for solar panels, GSA disposals, or specific environmental permits. While this is a great start, there's more work to be done. Projects without a strong federal nexus, like private housing accepting Section 8 vouchers or those qualifying for federal rehab tax credits, will not benefit from this exemption. Additionally, buildings listed on the National Register of Historic Places and state-level historic preservation processes are still subject to review. We’ll share more analysis of the proposal in the coming weeks. RER looks forward to working with policymakers to further eliminate barriers and promote efficient development to meet our nation's housing and energy needs. 🏘️Read the full announcement: 👇 https://bit.ly/3SE0n4z Additional RER recommendations: 👇 White House Conversion Letter: https://bit.ly/3VXRvbV RER President & CEO, Jeff DeBoer's Hill Testimony: https://bit.ly/3UJAOk7

Our President & CEO Jeffrey DeBoer joined a great conversation at the #RNC alongside National Association of REALTORS® Shannon McGahn about the state of #CRE. They delved into key issues impacting the industry, including: 🏠 Affordable housing 📊 Tax priorities 📈 Interest rates and the economy Check it out here: 🎥 https://bit.ly/4bWSIVL Thank you to POLITICO for hosting this lively and productive conversation! #RNC #affordablehousing #realestate #economy

We are excited to announce that Kathleen McCarthy Baldwin, Global Co-Head of Blackstone Real Estate, will officially begin her term as the new Chair of the Real Estate Roundtable on Monday, July 1! Kathleen brings a wealth of experience and strategic vision to our organization. Her leadership will be instrumental in guiding us through the next phase of growth and innovation in the real estate industry. As we address critical policy issues and advocate for policies to help drive forward-thinking solutions, Kathleen's expertise will be invaluable in strengthening the collaboration between the public and private sectors. We also extend our deepest gratitude to John F. Fish, Chairman & CEO of Suffolk Construction, for his remarkable leadership and contributions over the past three years as Chair. Under his guidance, we have made significant strides in advancing policies that benefit the industry and the economy in what has been a pivotal and challenging period. Please join us in celebrating John’s tenure and welcoming Kathleen’s leadership during this exciting new chapter for the Real Estate Roundtable. Together, we will continue to drive #CRE forward and push for positive changes in the industry.

We were delighted to see so many of our members this week at The Roundtable’s 2024 Annual Meeting in Washington. 🏛️ The event was filled with insightful discussions on critical topics affecting #CRE, including: the economic outlook, the changing nature of work, and building performance standards. A special thanks to the distinguished policymakers and industry leaders who joined us: - Ken Rosen, Chairman of the Fisher Center for Real Estate and Urban Economics - Elliot Doomes, Commissioner, Public Buildings Service, U.S. General Services Administration - Frank Luntz, Founder and President, FIL Inc. - Bruce Katz, Director, Nowak Metro Finance Lab, Drexel University Thank you to our members for an engaging and productive two-day session. As always, we will keep you updated on all things #CRE.

We are excited to share our Q2 2024 Sentiment Index Report—gauging senior real estate executives’ confidence levels in current and future market conditions and the overall health of the real estate sector. This quarter, #CRE executives remained cautiously optimistic about the state of the industry despite high interest rates and tight liquidity. Q2 Sentiment Index Topline Findings: Overall sentiment index remained steady at 61, while the Current Index registered a two-point increase over the previous quarter. Meanwhile, the Future Index reported a four-point decrease from Q1. Survey participants showed tempered optimism about the future of #CRE: -66% of participants expect market conditions to improve over the next year. -75% of participants believe that asset values will be same or higher one year from now. -65% of participants expect the availability of equity capital and debt capital (64%) to improve in one year. Importantly, survey responses show that CRE is not a monolith. Retail sectors remain healthy due to strong consumer spending while industrial and multifamily sectors show tempered growth. However, challenges continue to persist for Class B office properties. The Roundtable is closely tracking developments in #CRE as the industry continues to evolve. For a deeper dive into these insights, check out the full Q2 report: https://bit.ly/455MUY9

Our President & CEO Jeffrey DeBoer testified last week at a congressional hearing on the state of #CRE and provided important policy recommendations for ensuring the continued stability and resilience of this crucial sector of our economy. The hearing focused on the challenges facing aspects of #CRE, the supply of affordable housing, and navigating the complex regulatory environment. We recommended specific policy solutions to maintain a strong and vibrant industry: 🏦 extend maturing loans & increase the flow of new credit 🚶💼 encourage return-to-office for federal employees 🏗️🏠spur new housing development by easing regulatory hurdles 🏢➡️🏘️ support property conversions As the state of #CRE continues to evolve, we’re working proactively with stakeholders to safeguard this vital industry and meet our business & community needs. WATCH: https://bit.ly/3UJAOk7

TESTIMONY: Mark your calendars… 📅🏛️ On Tuesday, April 30 at 2PM ET, Roundtable President & CEO Jeffrey DeBoer will join the House Oversight Subcommittee on Health Care and Financial Services to discuss the dynamic landscape facing #CRE, and the role for policy moving forward. Watch live on Tuesday: https://bit.ly/4def9r8

It was great welcoming members back to Washington this week for the Roundtable’s 2024 Spring Meeting. The session featured many intimate conversations about prominent issues facing #CRE. Speakers shared insights on the state of the economy and housing market, return-to-office efforts, and the implications of proposed regulations. We are thankful for the attendance of leading policymakers and industry figures, including: Minority Leader Hon. Hakeem Jeffries (D-NY) Rep. French Hill (R-AR) Jared Bernstein, Chair of the White House Council of Economic Advisors Enice Q. Thomas, CFE, Deputy Comptroller for Credit Risk Policy Kevin Palmer, Head of Multifamily at Freddie Mac Jonathan Martin, Politics Bureau Chief and Senior Political Columnist at POLITICO As always, thank you to our members for a productive two-day session, and we look forward to a full room at our Annual Meeting in June! 

Happening now at the 2024 Better Buildings, Better Plants Summit: Join Better Climate Challenge allies International Facility Management Association - Singapore Chapter, The Real Estate Roundtable, SmithGroup, and Urban Land Institute in the South American B room to hear their perspectives on the most effective and innovative approaches to decarbonization 🤝 https://ow.ly/Pmii50R5cv2