By Jason R. Bogart, Accordia
In an ever-evolving real estate landscape, standing still is not an option. As the principal of Accordia, I’ve observed firsthand the shifts and opportunities in the market as we enter 2024. About six to nine months ago, we were conducting regular pipeline calls with some of the major institutions’ acquisition teams. It was obvious that based on their reactions, there was not a lot of activity. Now with investment activities coming back to life, the liquidity is starting to percolate again. There are billions of dollars sitting on the sidelines ready to invest in commercial real estate. These observations have led Accordia to a pivotal moment. For us, moving forward means rebranding and focusing on a strategic expansion that is poised to redefine our trajectory and enrich our investment portfolio.
“For Accordia, it’s all about a new era of real estate opportunity.”
The commercial real estate market has always been dynamic, yet honestly, the changes I have witnessed recently are unprecedented. As the Accordia team analyzes the patterns of 2024, one thing is clear—this is a year of growth and robust opportunity. With interest rates stabilizing and inflation rates declining, we’re on the cusp of a renewed surge in investment activity.
A crucial aspect of our strategic plan involves reassessing deals that were once out of reach. What was once an overly high-priced market is starting to recalibrate into realistic pricing expectations bringing old opportunities back to the forefront—providing us with the chance to leverage our agility and experience. Now brokers are chasing us on investments that we were chasing two years ago. A major reason is that low-cost debt is coming home to roost, which puts pressure on existing owners, because they will need to invest additional equity into their real estate, or their cash flow is going to get significantly reduced by increased debt service payments. Basically, all this means that the real estate market is primed and ready for an upswing, and Accordia is right at the helm. We’re prepared to navigate through this period of economic realignment with precision and foresight.
“Our strategic expansion playbook means going south.”
Our base of operations has always been and will always be focused on the Northeast. However, we have an expansion strategy in geographic diversification, with a particular focus on the vibrant markets within the Sunbelt region. With 24/7 “happy, feel-good weather” and tax incentives, the migration trends favor states like Florida and the Carolinas. For those reasons, we are planning to set up offices for Accordia in these areas. Our goal is to create a real estate presence that resonates with the economic vitality and demographic shifts of these regions.
“Intuitive rebranding is our name of the game.”
Rebranding is another significant step for us. It’s more than a new logo or a refreshed website; it’s about encapsulating our identity as a forward-thinking, adaptable, and innovative company. We are crafting a narrative that reflects our values and mission, emphasizing our commitment to sustainability along with our agile approach to the market’s demands.
“How we plan to navigate through this ever-shifting retail landscape.”
Retail real estate is an area of interest for Accordia. Despite the challenges, we are finding stability in grocery-anchored and service-type retail investments. Even the pivot to online shopping has not diminished our belief in the viability of retail assets. Though we are optimistic about this sector, we are still cautious when it comes to exploring retail prospects that hold the promise of a steady flow of returns.
We are still confident that these types of properties will remain essential to Accordia’s overall plan of taking advantage of potential pricing adjustments that align with our shrewd investment philosophy.
“Office real estate—our contrary viewpoint on the matter.”
The post-pandemic world has translated into a true lack of investment capital for office space, which has deterred many investors from entering that asset class. Yet, as with every type of challenge Accordia encounters, we see potential. For us, we believe that commercial real estate in up-and-coming locations offers unique repositioning opportunities. Our approach is to look beyond the current trends and to identify assets that have the potential for growth and reinvention.
“What it takes to build a forward-thinking team.”
For Accordia, an expansion of this magnitude demands an infusion of new talent and perspectives. We are in the process of bringing on board senior executives with the vision and expertise to drive our growth. This new blood will not only inject fresh ideas into our operations but will also ensure that our foundational values of transparency and integrity remain at the forefront of our expansion efforts. We are fiduciaries for our investors, watching over their investments, which is the cornerstone of what we do.
“Sustainable practices is our growth narrative.”
When it comes down to it, sustainability is the thread that runs through every facet of our business. As we grow, so does our responsibility to the environment and the communities we serve. Our rebranding and expansion are not just about financial gains; they are about building a legacy of positive impact through responsible development.
“What it means to go beyond the path.”
Looking toward the future, we envision Accordia as a company that’s not just larger in scale but more influential in its contributions to the industry. The expansion will not just encompass our geographic reach but also our service offerings, such as third-party asset and property management, which we see as a growing need in the market.
By the end of 2025, we aim to have firmly established our presence in new markets, capitalized on evolving real estate dynamics, and furthered our commitment to creating lasting value.
The journey ahead for Accordia is one filled with promise and potential. We are embarking on a new chapter, one where our rebranded identity and strategic expansion will cement our place as a leader in the real estate sector. As we advance through 2024 and beyond, our dedication to innovation, sustainability, and exceptional investment performance will continue to drive us forward. I invite our partners, investors, and the broader market to join us on this exhilarating journey. Together, we will chart a course that not only navigates the complexities of the market but also sets a new benchmark for excellence within the real estate industry.
Jason R. Bogart is principal at Accordia.