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Posted: December 27, 2022
2022 Year in Review: Robert Levine, Urban Standard Capital
Associate
Urban Standard Capital
What person, project, transaction or market trend had the greatest impact on your industry this year? Rising interest rates have affected everyone in the real estate industry in 2022. In this uncertain environment many banks have scaled back their lending capabilities. As a private lender we are uniquely positioned to capture this market where traditional financing sources have retreated. I believe that in 2023, we will continue to see the trend of non-bank lenders financing real estate projects.
What was your greatest professional accomplishment or most notable project, deal or transaction in 2022? Our expansion into South Florida has been tremendous over the last year and I have been extremely fortunate to have been a part of the team leading this effort. Florida now accounts for about 25% of our lending platform and we expect that share to grow in 2023.
What emerging trends will drive investment and development in 2023? Economic downturns and uncertainty create opportunities for investors. With hotel and office valuations depressed, many of these assets will be converted to multifamily uses. We have started to see a number of these conversions and believe this trend will accelerate in 2023.
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