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    seand
    2010 Main Course - 2011 time for some dessert!
    Entry posted January 28, 2011 by seandSuper Contributor , last edited January 19, 2012
    639 Views, 1 Comment
    Title:
    2010 Main Course - 2011 time for some dessert!
    Entry:

    Wow! Where did that year go? I haven't blogged in almost a year, but I have an excuse! 2010 was the busiest year in our firm's 10-year history with more diversity of clients and more reasons for performing environmental and engineering due diligence and asset management. I'd like to highlight a few trends we are seeing from 2010 and building on in 2011:

    • Preforclosure and forclosure environmental site assessment
    • Preforclosure and forclosure capital needs assessment
    • Surging requests for tax credit development and rehabilitation projects involving environmental and engineering services.Google is in on this now too!
    • Building Energy Performance Standard (BEPA) opportunites as part of due diligence (both acquistion and disposition) AND driven by Asset Management objectives for the new ASTM2797 standard
    • Development coming back slowly (along with environmental remediation and management opportunities during construction)
    • Transaction volumes rising (players are blinking finally!) and that is good for all of us
    • Purchase of distressed assets involves limited access and short due diligence timeframes 
    • Senior Housing is a growing opportunity
    • Keeping revenue in-house (Zweig White article) to focus on quality
    • Strong Fannie, Freddie and HUD markets (HUD set to decline)
    • Hiring great new staff is a bit easier than it was in 2009 but becoming more difficult in 2011.

    We all sell services and expertise (not products) so the last bullet on hiring qualified and talented staff is paramount to position your firm for 2011 or as I refer to it......"dessert" after 2010. The "thaw" and the beginning of new opportunities in 2010 which were discoverd out of necessity from 2008/2009 will really make 2011 a good year for our industry. We are seeing CMBS come back with new players (JP Morgan is big right now), development and lending is beginning to thaw, our clients are more aware of maintaining the value of their asset through maintenance and addressing environmental issues before disposition, and firms in general have become more efficient in delivering their services. This is making me hungry.........What opportunities does your firm see in 2011? More on how to maximize these opportunities in my next blog entry. Happy New Year!

    Image:
    Keywords:
    LIHTC, BEPA, Building Energy Performance, forclosure, preforclosure, Phase I ESA, PCA, environmental, remediation,transaction volume, CRE, commercial real estate, due diligence, tax credit, distressed asset, HUD, development

    Comment

     

    • dcrocker

      Sean,

      Great post, distracting picture.

      Your blog reminded me of an article a colleague sent me last week that ranked the top 10 growth industries for 2011.  Interestingly, you'll see both environmental consulting and multifamily housing on there.

      The thaw may not be underway outside here in snowy New England this week but it's evident in the market--in many of the ways you mention above: hiring, investment, development, foreclosures, distressed assets and asset disposition.

      Happy 2011,

      Dianne