Generally upbeat panelists at InterFace West say they’re seeing more activity
By John B. Mugford
InterFace Healthcare Real Estate West “Investment Market Update” panel discussion included (from left to right): moderator Travis Ives of Cushman & Wakefield, Jay Gangwal of IRA Capital, Paul Slye of Pinnacle Capital Management Services, Ben Barr of Woodside Health, Josh Richmond of Evergreen Medical Properties and George Ross of Harrison Street. (Photo courtesy of InterFace Conference Group)
Since the rapid run-up of interest rates from March 2022 to July 2023 rocked the capital markets and slammed the brakes on commercial real estate investment and development, frustrated healthcare real estate (HRE) professionals have frequently uttered this grim mantra: “Survive until ’25.”
However, with further rate increases on hold, and the likelihood of rate cuts later this year and next, a more hopeful mantra has recently emerged: “Do more in ’24.”
Industry professionals began to change their tune Dec. 13, when the U.S. Federal Reserve Open Market Committee (FOMC) signaled that it plans to maintain the target range for the Federal Funds Rate at 5-1/4 to 5-1/2 percent, and is poised to reduce it by 75 basis points in 2024, with more cuts after that.
With lower interest rates finally on the horizon, relieved HRE professionals have begun expressing a new confidence that they can indeed “Do more in ‘24.”
That more optimistic maxim was certainly making the rounds at the recent InterFace Healthcare Real Estate West conference at the Omni Los Angeles, particularly during the “Investment Market Update” panel discussion.
In introducing the panelists, the moderator, Travis Ives, executive director of healthcare capital markets with Cushman & Wakefield (NYSE: CWK), said he has detected
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