Name: Christen Portelli
Title: Co-Founder & Principal
Company Name: Highcap Group
Real estate associations or organizations that you are currently a member of:
- ICSC
What steps have you taken to ensure the continued success of your firm?
Offering tailored services to clients under the same roof has proven to be a recipe for success. We added a finance division eight years ago. During the height of lockdown when investment sales were slowing down, our finance team was incredibly busy with refinancing transactions due to the historically low rates. More recently we added a retail and office leasing division. In 2020, as companies downsized, tenants relocated and there was shuffling out of Manhattan into the boroughs and Long Island our leasing team was working hand in hand with landlords and tenants to solidify new deals. We pride ourselves on being full scope while providing our clients with personalized services from advisory, investment sales, financing and leasing.
How have you adapted and changed in the last 12 months?
Staying engaged and communicating with clients, colleagues and peers while educating myself on the sudden changes in the marketplace were key factors to shifting focus and maintaining deal flow. Certain asset classes that unexpectedly had little to no cash flow were not of interest unless there was a significant price reduction and long term play while other assets such as industrial became much more attractive primarily because the industrial type tenant whether that be online retailers or e-commerce delivery companies were and continue to be thriving. Development deals and out of state deals also played a part in keeping the market moving in 2020. Although this was quite different then the past two downturns I have been through, one thing remains the same, I was able to stay current and quickly change gears recognizing that despite the pandemic doom and gloom, I can create opportunities and help clients through difficult times.
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