ULI Boston/New England Blog

Member Spotlight: Jeff Myers, Managing Consultant, CoStar Portfolio Strategy

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Jeff Myers is a Managing Consultant with CoStar Portfolio Strategy. He provides consulting services for institutional clients in areas such as market selection, investment strategy, and investor communications. With a deep understanding of the mechanics of urban areas, he has monitored economies and CRE markets across the country and has in-depth knowledge of the five primary property types. Mr. Myers has authored white papers and he has been quoted in numerous national and local media outlets including National Real Estate Investor, Multi-Housing News, and the Wall Street Journal.

 

 

 

  1. In your role at CoStar, you advise investors on the direction of commercial real estate markets. What are the questions investors are seeking guidance on when it comes to making a play in the marketplace?

Questions and strategies differ throughout the economic cycle, and right now many investors are trying to gauge where opportunities still exist at this point in the cycle and when the next downturn will hit. Investors are also very interested in the impacts of the Trump administration’s policies on the economy and commercial real estate. The potential for business-friendly policies initially helped improve expectations for economic growth after Trump’s election, but in the months since, concerns have arisen about the ability of the administration to execute its plans.

  1. It has been a good run for the current commercial real estate cycle. How long does a good thing last?

This has been one of the longest expansionary periods on record. But unfortunately, nothing lasts forever and many investors are already devising and/or implementing strategies to help mitigate risks or take advantage of opportunities that may be associated with the next economic downturn. Current macroeconomic underpinnings are generally sound, but some property types in some metros are further into this cycle than others. This is especially true for the apartment sector, which has been inundated with high-end, product that is causing vacancies to rise and rent growth to slow.

  1. Throughout your career, you have always had a passion for cities. How does your work feed into your enthusiasm for urban life?

Indeed, ever since I was a child I have always been fascinated by the mechanics of cities and urban areas. Fortunately, Boston is fertile ground for such interests, and my position has allowed me to study commercial real estate markets across the country at an in-depth level. I enjoy synthesizing CRE fundamentals with economic variables to provide value to clients seeking actionable investment strategies.

  1. You are a committed UrbanPlan volunteer. Why UrbanPlan?

It’s fun! It is very fulfilling to work with young adults to help them understand the forces driving the built environment around them. It is interesting to watch them balance the demands that UrbanPlan forces them to address. This includes financial returns, neighborhood groups, city requirements, marketing and site planning. Teamwork is a big part of the process too, as students must come together to compose a redevelopment proposal and then pitch it to the (volunteer-staffed) City Council. UrbanPlan lets the students know that they do not have to be mere bystanders, but rather they can participate in community building in a multitude of ways. They also develop a sense of what it’s like to negotiate with a wide range of stakeholders. These are very valuable lessons that should help them throughout their lives – regardless of what field they enter.

  1. It’s summer time in the city! What are your favorite summertime activities when you are not advising major real estate investors?

Playing chess outside is one of my favorite pastimes, so hopefully, you’ll find me checkmating the competition in Harvard Square. Plus, Boston is a great city for walking and biking and I plan to do a lot of both this summer. My family just bought bicycles and we live close to the Minuteman Bikeway, so I want to get good usage out of them. And with a queue of out-of-town family members set to visit this summer, you’ll also find me acting as a tour guide in one of the metro’s many diverse neighborhoods.

 

 

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