Sector Views: Opportunities in US Retail, Office & Hotels

Tuesday 16 November 2021 | 10–11am ET | Virtual/Zoom

The US commercial real estate sector is at a unique point in history, where the differences between property types have become larger than ever. Strong property fundamentals have driven virtually every institutional real estate manager into overweighting industrial and apartment assets, which could be creating tactical opportunities in the more stigmatized office, retail, and hotel sectors.

All three of these sectors have a limited pool of institutional buyers today and, in the case of hotels, existing owners are often struggling through the liquidity problems that come from eighteen months of low or negative property income. How should investors balance the relative value being offered by different property types today, and where are the best opportunities?

All AFIRE members are invited to join this special virtual session, sponsored by MetLife Investment Management.

William Pattison

Head of Real Estate Research & Strategy, MetLife Investment Management

William Pattison is the head of the real estate research & strategy team within the risk, research & analytics group of MetLife Investment Management (MIM). He is responsible for research and strategy development in support of MIM’s real estate equity and debt platforms. In this role, he works closely with MIM’s real estate regional offices and portfolio managers to craft the strategic house view, drive thought leadership initiatives, project capital market trends, and develop investment strategies that seek to maximize returns while minimizing market, rate, and liquidity risks. As a member of the Investment Committee, William is responsible for reviewing and voting on all U.S. real estate acquisitions.

Prior to joining MetLife in 2015, William worked for ten years in the real estate group at Aegon Real Assets. William is a graduate of Iowa State University, where he earned his Bachelor of Science degree in economics.

Ryan Severino

Chief Economist, JLL

Ryan Severino is the chief economist at JLL where he manages the economics team and is responsible for global and regional economic research, analysis and forecasting as well as property market forecasting.​

Prior to JLL, Ryan served as senior economist and director of research at Reis in the research and economics department, the team responsible for the firm’s market forecasting, valuation, and portfolio analytics services. Ryan also served as the Associate Director of Research at MetLife Real Estate Investments where he was responsible for macroeconomic and real estate market analysis, formulating portfolio strategy, and conducting deal reviews. Before joining MetLife, Ryan served as the Director of Investment Strategy and Market Research at Starwood Capital Group where he directed the entire research effort at the firm. Ryan has also held research positions at Prudential Real Estate Investors and UBS.

Additionally, Ryan currently serves as an Adjunct Professor of finance and economics at Columbia University and New York University teaching courses such as Urban Economics, Portfolio and Risk Management, Microeconomics, and Macroeconomics. He also has experience in real estate asset management, portfolio management, and acquisitions.