Name: Steven Littman
Company: Rhodes Associates
What was your greatest professional accomplishment in 2019?
Celebrating our firm’s 50th anniversary in business, our specialization in executive search and organizational consulting for the global real estate industry, and putting together an incredibly talented, motivated and successful team of partners and search professionals at Rhodes Associates.
What was your most notable project, deal, or transaction in 2019?
I am extremely proud of our track record of building successful real estate companies, new service lines/platforms and high performing teams for the global real estate industry. In this process we have assisted a significant number of real estate professionals in advancing and furthering their careers and financial success.
What are your predictions for commercial real estate in 2020?
I believe there will be continued flow of global capital into the U.S., which is still considered a sounder investment alternative than most of the rest of the world. Focus will likely be more oriented to distressed debt and equity investments in addition to core and core plus investments for longer term hold. With compressed cap rates, it is harder to create the shorter term returns on closed end capital with a three to seven-year investment period. Significant development and redevelopment will continue as an alternative to investing in stabilized assets, especially considering current cap rates. Markets such as Florida, Southern California and Texas will continue to be attractive to investors. Major gateway cities offer long term “security” - again with a focus more on core and core plus, especially for institutional global capital.