ITRA Global Expands into Bangkok and Grand Rapids

ITRA Global, one of the largest organizations dedicated to representing tenants and occupiers of commercial real estate, has further expanded its global reach with the affiliation of two additional offices in the following national and international markets: Bangkok, Thailand and Grand Rapids, Michigan, as reported by Mylinda Vick, CCIM, Chairman of ITRA Globals board of directors.

ITRA Global/Koll (Thailand) Ltd., located in Bangkok, Thailand, was established in 1987. Kolls core business is the procurement of office and facility space for local and multinational companies. Simon MilIard, principal of ITRA Global / Koll (Thailand) Ltd, stated Koll is proud to be the latest international member of the ITRA Global family, immediately helping to strengthen and extend our international reach and enhancing our pre-eminent position as South East Asia and IndoChinas only exclusive tenant representation firm. He went on to say We were immediately attracted to ITRA Globals trusted brand comprising a world class array of talented, experienced and trustworthy professionals that will benefit our roster of blue-chip clients, such as Nike, Diageo, Generali, Colgate Palmolive and Tetrapak.

Chris Atwater is the principal of ITRA Global / Michigan Commercial Space Advisors, the Grand Rapids affiliate representing tenants and buyers in the acquisition and disposition of office, retail and industrial space. Mr. Atwater holds the Certified Commercial Investment Member designation (CCIM), and is a Member of the Appraisal Institute (MAI). Mr. Atwater stated, "Our acceptance as the ITRA Global Grand Rapids affiliate office is a great honor. We have already benefitted from our association with this select group of industry leaders and look forward to being able to offer our clients a turn-key solution, whether it is in our back yard or around the world."

While some organizations are downsizing, ITRA Global continues to expand as one of the largest commercial real estate organizations devoted to representing corporate tenants and buyers. With coverage in major markets around the world, ITRA Global consists of seasoned professionals with an average of twenty years experience and is differentiated by its focus on advocacy for the corporate tenant and buyer. Clients benefit by having an experienced professional as their trusted advisor -- conflict-free representation with total objectivity.

For more information about ITRA Global, visit the website at http://www.itraglobal.com or contact Beth Wade, Executive Director, at 1.888.925.4872 (Canada and United States.) or 1.706.654.3201.

News source: PRWeb

Source:
ITRA Global Expands into Bangkok and Grand Rapids

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Genesis Capital Notes Apartments Still Popular Investments

With apartments leading the growth in commercial real estate last year it is natural to worry about the possibility of overbuilding in the apartment sector. According to the January 22-23 meeting of the National Multi Housing Council, held in Palm Springs, CA, the national apartment supply is well within normal levels.

Developers are planning on adding 1.4 million new apartments, but that doesnt mean those apartments will be on the market anytime soon. Only half the developers are currently purchasing land, getting building permits and lining up financing for their projects. This means that many of the units planned are just that, plans. Its not necessarily an accurate reflection of the actual supply.

Apartment developers often make plans without actually carrying through for a variety of reasons, said Terry Robinson, president of Genesis Capital. In addition, many markets have regulations in place that guarantee it will take years to get all the necessary permits to begin building.

Most industry surveys expect apartment starts to average around 250,000 annually for the short term. That is only a bit more than in 2012 when apartment starts were 212,000. It is also substantially below the historical rate of 300,000 new units needed to meet demand from new renters.

In addition to the lackluster supply, there is a huge pent up demand for apartments. The Great Recession caused many potential apartment renters to delay striking out on their own. Even though the population of those under the age of 35 rose during the past 5 years, the number of households in this age bracket shrunk. Under 35s are a prime renting group.

Many of those in that age bracket are kids who moved in with mom and dad rather than renting over the past 5 years. As they begin to head out from their parents homes it is certain that some will choose to buy, provided they are able to secure a mortgage. The majority though will choose to rent apartments.

This is a huge amount of pent up demand that could drive the demand for apartments far above the historical average for several years. Some analysts believe that demand could double in the short term until supply is able to match these unusual market forces.

Genesis Capital notes that although some of its investors seem to be shying away from the apartment sector, others are still hungry for these assets and all signs point to good returns in the coming years. Pent up demand, combined with a long time horizon for new development could ensure that investors are able to continue to profit from the multihousing sector.

About Genesis Capital
Genesis is a dynamic nationwide network of seasoned commercial real estate and financial professionals that believe in the potential of todays market. Our members source assets directly from Banks, Servicers, Lenders and Private Clients. The members of Genesis have participated in commercial real estate transactions totaling nearly $7 billion.

News source: PRWeb

Source:
Genesis Capital Notes Apartments Still Popular Investments

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