MIAMI, FL — CORFAC International president Scott Savacool, CCIM, SIOR, announced that the commercial real estate association’s Spring Conference in Miami March 4-7 was a resounding success with solid networking and relationship-building, excellent technology workshops, best practice sessions, guest speakers and an awards program honoring the top joint transactions from 2014.
Keynote speaker Lawrence Yun, Ph.D., from the National Association of REALTORS, predicted that fixed-rate residential mortgages would rise to about 6% by 2016 and that inflationary pressure is coming from rising apartment rents – 3.5% to 4% annually, which is ahead of the Fed’s inflation target of 2% to 2.5% for the overall economy. Dr. Yun also forecasted that oil will hover in the $60s a barrel longer than most economists are predicting – for 3-5 years.
•Patrick Fowler of ESRI and Gary Ralston, CCIM, of the CCIM Institute, presented demonstrations of some of the top technology tools in the industry. Conference sponsors Buildout, Realcore and RealNex also demonstrated their applications.
•Phill Tomlinson, a broker with Commercial Properties Inc./CORFAC International in Tempe, AZ, put on a highly informative talk on how to maximize social media tools in commercial real estate.
Best Practices workshops:
•Duncan Patterson, CCIM, a founder of Patterson Woods/CORFAC International in Wilmington, DE, has developed a core expertise helping longtime owners of commercial property unwind their investments and presented “Alternative Disposition Strategies using Charitable Giving.”
•Sandy Shindleman, CCIM, FRICS, SIOR with Shindico/CORFAC International in Winnipeg presented on “How to Succeed in Business.”
International Committee update: CORFAC welcomed a new affiliate from France (BG Carré/CORFAC International).
At the awards function, Mason and Jason Capitani were recognized for their firm’s 50th anniversary (L. Mason Capitani/CORFAC International, based in Troy, MI), as was Mike Boyd, principal and founder of the Houston, TX firm, Boyd Commercial/CORFAC International. Boyd won the Texas Association of REALTORS William C. Jennings Award for the Most Outstanding Real Estate Transaction in Texas in 2014.