Welcome back to another episode of the Real Estate Asset Management Podcast, today’s guest is Andrew Rybczynski. Andrew is a management consultant at CoStar Advisory Services, which is built on top of CoStar, the largest data provider for commercial real estate in the US. They utilize the data to advise institutional clients, banks, pension funds, REITs, hedge funds on investment and commercial real estate, where to do it, and what types have the potential to outperform in the future. Tuning in, listeners will hear about Andrew’s take on the differences in regional and market type performance, rent growth, and the impact of evictions on vacancy. We also talk cap rate compression, interest rates, and so much more! So stay tuned!

Key Points From This Episode:

  • More about Andrew and what he does for a living.
  • Differences in regional and market type performance and what is being seen out there: tax cost.
  • Rent growth, what it’s doing, and how much longer this can continue. 
  • CoStar’s projections for rent growth in Phoenix, Arizona; 6-7% in the next 1-2 years.
  • How evictions are going to be affected and what will happen to vacancy.
  • Cap rate compression, where interest rates may go, and how it affects the tremendous amount of capital chasing the same deals.
  • What listeners should know about workforce housing. 
  • Andrew shares his favorite cities and what’s important to him about investing there.
  • Why it’s important to research and get to grips with what is happening in cities regarding tech-hub growth.

Tweetables:

“The more people in the market, the more attractive it is for those employers.” — Andrew Rybczynski [0:02:45] 

“Workforce — we love it, we like it as an investment class if you’re going into it but building into it is very difficult and that is part of the reason that we like it so much as an investment class —  is that it does not face the same supply pressures that you get at the top of the market.” — Andrew Rybczynski [0:11:45]

Links Mentioned in Today’s Episode:

Andrew Rybczynski

Andrew Rybczynski on LinkedIn

Asset Management Mastery Facebook Group

CoStar Advisory Services

Break of Day Capital Break of Day Capital Instagram

Gary Lipsky on LinkedInGarzella Group 

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