Frank Petz, Managing Director for our Capital Markets team in Boston, recently served as moderator for the Real Estate Finance Professionals Association (REFA)’s Annual Forecasting Luncheon. The panel was composed of several industry experts including Shawn Hurley, Executive Vice President at Skanska; Alicia Sasser Modestino, Senior Economist at Federal Reserve Bank of Boston; and Anthony Pangaro, Principal at Millennium Partners.
The panelists’ discussions covered economics, capital markets and entrepreneurial real estate investing. The program specifically addressed impacts to the economic climate as well as real estate opportunities in the coming year.
As moderator, Frank prompted the panelists to share their thoughts on economic recovery in Massachusetts, recent labor market trends, developments in the housing market and office vacancy rates. After exploring these various economic indicators, the panelists offered a regional forecast that was optimistic – one that promised steady growth and continuing labor market recovery throughout New England with Massachusetts leading the way in job growth.
Frank noted: “The clear consensus from both the economist and developers was that Boston continues to run on all cylinders – resulting in continued business, population and overall economic growth. This momentum will further fuel the wide investor base with whom we are engaged to continue acquiring assets in our market.”