BEGIN:VCALENDAR VERSION:2.0 PRODID:-//jEvents 2.0 for Joomla//EN CALSCALE:GREGORIAN METHOD:PUBLISH BEGIN:VTIMEZONE TZID:America/New_York X-LIC-LOCATION:America/New_York BEGIN:DAYLIGHT TZOFFSETFROM:-0500 TZOFFSETTO:-0400 TZNAME:EDT DTSTART:19700308T020000 RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=2SU END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:-0400 TZOFFSETTO:-0500 TZNAME:EST DTSTART:19701101T020000 RRULE:FREQ=YEARLY;BYMONTH=11;BYDAY=1SU END:STANDARD END:VTIMEZONE BEGIN:VEVENT UID:5cb6acfc8e62133050c9d46ad53d05cd247 CATEGORIES:Events SUMMARY:MAGNY Webinar - Will the structural shifts in the commercial real estate market catalyzed by COVID-19 permanently impact municipal tax revenues? DESCRIPTION:
MAGNY | Zoom Webinar Wednesday, February 16, 2022 |
TOPIC:
Will the structural shifts in the commercial real estate market catalyzed b
y COVID-19 permanently impact municipal tax revenues? Zoom Webinar Date: Wednesday, Febru
ary 16, 2022 at noon ET Det ails: Commercial real estate (CRE) provides an essential fo undation for tax revenue generation. Moreover, as an economic base of comme rce, industry, and entertainment, it serves to concentrate consumers, colle agues, and intellectuals to optimize growth and innovation. However, that s ame utility is an Achilles heel during times of plague, as limiting access to infrastructure that draws large numbers of people together is necessary to slow the spread of pathogens like COVID-19. Predicting the long te rm financial impact on municipalities and industries has been particularly challenging with COVID-19, as it is the first global pandemic to occur duri ng the age of the internet, where for the first time in history a large seg ment of workers were able to effectively perform their functions remotely f rom the safety of their home and almost every type of purchase could be mad e online without stepping into a store. This decentralization of workers an d consumers has already had a profoundly negative impact on hospitality, sm all businesses, and brick and mortar retail that has been slow to recover r egardless of geography. The new dynamic could drive significant changes in the essential revenue streams that commercial properties provide to state a nd local governments if just some of these tactical behaviors become perman ent. The pandemic will likely drive some permanent changes in the US
commercial real estate landscape that will have positive financial implicat
ions for certain municipalities, while lowering revenue for others. How is
the current state of the CRE market impacting real estate tax assessments a
nd collections? Which COVID-19 related impacts to the CRE market are tempor
ary and which are more likely to be permanent? Which geographies are the ea
rly beneficiaries of the changes in the CRE market post-COVID-19? Gay (Scholastica) Cororaton, Sen ior Economist, National Association of Realtors Ms. Cororato
n is a Senior Economist and the Director of Housing & Commercial Resear
ch with the Research Group of the National Association of REALTORS®. She ma
nages the production of NAR’s proprietary housing, commercial, and internat
ional statistics, surveys, and research. Her research focuses on the effect
of economic, demographic, and industry conditions on the current trends an
d outlook in the residential and commercial property markets. Mr. Rajguru is a Director of OF
S Capital Management, LLC, and is responsible for Commercial Backed Securit
ies (CMBS) and Commercial Real Estate (CRE) liquid credit investing of the
Structured Credit Group. Mr. Rajguru has more than 20 years of experience
in the credit industry. Prior to joining OFS Capital Management in 2020, Mr
. Rajguru held positions at Lord Abbett as a Portfolio Manager for the firm
’s taxable fixed-income strategies; a CMBS Portfolio Manager at Guggenheim
Partners Investment Management; Head of Commercial Real Estate Valuations a
t Houlihan Lokey/Red Pine Advisors; a CMBS Portfolio Manager at UBS; a CMBS
Research Analyst at Credit Suisse; and earlier in his career worked on CMB
S Securitization/Surveillance groups at Lehman Brothers. Mr. Rajguru earned
a Bachelor of Science in finance from Northeastern University and a Master
of Business Administration in finance from New York University’s Leonard N
. Stern School of Business. From October 2015 until May 2020 Mr. Rajguru wa
s the Chair of the CMBS Council of the Association of Institutional Investo
rs.
Cost: FREE for members of MAGNY and NFMA; $60 for non-NFMA members Re gistration: Click here to register
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