Kristina Garcia is Associate Director of Americas Multifamily Capital Markets Research and a member of the firm’s center of excellence, which includes Cushman & Wakefield’s Global Chief Economist, Global Head of Forecasting, and the research heads of capital markets, retail, industrial, and occupier services. Kristina has spent 14 years entirely dedicated to the multifamily space with experience in valuation and advisory consulting, investment sales marketing, and macro-level strategic insights in research.
The pandemic has created significant problems for certain classes of real estate and while multifamily real estate has fared better than most, the impact of Covid on other sectors has created issues in the debt markets and in household income that has had an impact on all sectors and the economy in general. Defaults and foreclosures leading to discounted pricing have not yet occurred to any significant degree and while additional weakness is anticipated when eviction moratoriums are removed, the multifamily market is expected to remain stable due to pent up demand, agency lending and significant liquidity attracted to the sector.
The reason the fallout from Covid has been limited so far is largely due to actions taken by lenders, asset managers and tenants to work cooperatively in developing payment plans and workout solutions in lieu of taking more extreme measures.
Speakers: Kristina Garcia, Susan Tjarksen, John Hansen, Ernest Johnson, and Michael B. Cohen
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.