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Posted: November 20, 2009
Rotonde of Urstadt Biddle Properties addresses the real estate industry's biggest challenge for 2010
Joanna Rotonde is the acquisitions manager at Urstadt Biddle Properties, Inc. Her responsibilities include: Identify, research and pursue retail investment opportunities within the suburbs on NYC; develop and maintain a network of property owners and brokers; travel into targeted markets to solidify relationships and project detailed property cash flow analysis up to 30-year. Rotonde has received the following awards and recognition: Women in Real Estate 08', Retail Traffic Magazine 08' (Cover feature) Some of her career achievements include: Helped identify and underwrite five major acquisitions in 18 months; retail and office leasing with an emphasis on national retailers and prominent restaurants; connected and developed relationships with institutional owners and private investors within our geographic territory. Rotonde is affiliated with the following real estate organizations/ affiliations: ICSC/ ICSC NextGen/ YMWREA/ YREG/ Retail Network.
The biggest challenge facing the real estate industry in 2010 is...
There are many challenges we will be facing in the real estate industry in 2010. Keep reinventing yourself, stay relevant and be proactive without compromising the important fundamentals of the business. Versatility is the key to success!
Adapt to change; market conditions and property values are not where they were 18 months ago. There has been no real pricing guidance; pricing was virtually unavailable in 2009. Absent compelling conditions, buyers will not overpay nor will sellers undersell. Agreeing on pricing will be difficult and will take longer in 2010.
Circumstances change; the real estate industry, the economy, and even our personal lives. It's imperative to keep educating yourself in the current market, so you have foresight to adapt. Be prepared and ready to recognize opportunities and have the ability to seize them when they reveal themselves.
Joanna Rotonde is the acquisitions manager at Urstadt Biddle Properties, Inc., Greenwich, Conn.
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