BisNow is a Commercial Real Estate Leader
BisNow is an international company that’s established itself as a leader in the commercial real estate industry. The company provides business-to-business (B2B) services to brokers, investors, developers, and others in the industry, and it’s grown to be one of the biggest companies in this space. BisNow has offices throughout North America, Ireland, and the United Kingdom, with a presence in no less than 50 distinct metropolitan areas.
The company holds regular regional summits and has sponsored several in South Florida. The most recent was held in Miami on July 21, 2021. It brought together real estate investors, developers, and brokers who have interests in the region.
M Patrick Carroll Among Summit Speakers
Multiple speakers were invited to BisNow’s summit, with some of the more notable ones being Ben Jacobson, Cassi Resnick, Jeff Nelson, and Carroll. Jacobson spoke on the effects of Covid-19, Renick on multifamily housing, and Nelson on insurance.
M Patrick Carroll gave an address on multifamily housing trends in the region, a subject that he’s well qualified to speak on. Carroll’s firm, CARROLL, holds 30,000+ units throughout seven states in the Southeast. Many of these are in South Florida, where Carroll has been investing for many years.
Carroll Sees Changing Trends in Multifamily Real Estate
In his address, Carroll noted multiple changing trends that will likely impact multifamily housing investments throughout the region. He was careful to note that these aren’t instant changes but will take place over the coming years.
First, a general shift in real estate investments will probably result in reduced growth throughout the multifamily housing sector. The sector has seen growth since the 2008 crash, and the sector has been especially hot in the past year. This pace can’t be sustained forever.
Second, shifts from urban centers to suburban areas will change what properties are in demand. Real estate expert M Patrick Carroll sees continued demand for urban housing since 2008, as many people sought the amenities and jobs that are available in cities. More people are now moving to suburbs, though, in search of lower housing costs, green spaces, and still close job opportunities.
Third, the increase in remote working will create new demand for housing that has robust technology. This trend, in particular, real estate investors and developers must adapt to. The cost of infrastructure upgrades must be managed while building more capable tech infrastructure.
Summit Examined Broad Commercial Real Estate
M Patrick Carroll’s comments were given within the border context of BisNow’s summit. The summit had a strong focus on multifamily real estate, but speakers also discussed the industrial, office, retail, and hospitality sectors. Industrial has seen growth on par with multifamily real estate, while the others (especially hospitality) haven’t performed as well.