As the President of Greenfield Partners, LLC, Eugene Gorab manages billions in assets across the firm's real estate and operating companies. To stay on the leading edge of the real estate industry, Eugene Gorab is active in several professional associations, including the Urban Land Institute (ULI).
A multidisciplinary real estate organization with global reach, ULI frequently publishes reports on market conditions impacting the real estate and land use industries. A February 2019 report titled Climate Risk and Real Estate Investment Decision-Making described how the increasing intensity and severity of weather-related events pose both physical and transitional risks to the value of real estate property. Caused by unforeseen catastrophic damage, physical risks typically result in financial losses through increased insurance premiums, higher capital expenditures and operating costs, and a decrease in property value and liquidity. In addition to physical damage, properties also face transitional risks linked to climate change. With the potential to reduce property values, transitional risks include circumstances like new regulations, reduced access to construction resources, and decreased demand for properties exposed to severe weather events. The ULI report urged the industry to develop strategies to address the increasing threat that climate change poses to real estate investments.
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A Connecticut-based real estate investment professional, Eugene Gorab has served as the President of Greenfield Partners, LLC for 20 years. In addition to leading a successful private equity real estate firm, Eugene Gorab frequently participates in industry events, including those organized by the Pension Real Estate Association (PREA).
A non-profit trade association representing the institutional real estate investment industry, PREA’s second-quarter 2019 Consensus Forecast reported a positive outlook for pension funds invested in commercial real estate. On average, the survey respondents project the National Council of Real Estate Investment Fiduciaries (NCREIF) Property Index will achieve a 6.3 percent total return in 2019, before experiencing more moderate growth (under 5 percent) for the following two years. The current survey reflects more optimism than the Consensus Forecast that covered the fourth quarter of 2018 when respondents predicted only a 5.7 percent total return in 2019. According to Greg MacKinnon, Ph.D., PREA’s director of research, the increase in positive outlook is partially based on speculation that the US Federal Reserve will maintain or even reduce interest rates this year. A recognized leader in the private equity real estate sector, Eugene Gorab serves as the CEO and president of Greenfield Partners, a private real estate investment firm with over $4 billion in secured capital. Eugene Gorab is an active member of the Real Estate Roundtable (RER).
The Real Estate Roundtable unites the country’s leading public and private real estate firms and industry trade associations to tackle national policy issues that impact the industry and the economy. In early 2019, RER released its 2019 National Policy Agenda to provide data on real estate market growth, housing and infrastructure needs, job sustainability, and retirement planning for Americans. The 2019 National Policy Agenda highlights the improved access to affordable housing for the low income and senior population. RER urges policymakers to consider the challenges associated with zoning, density, the mortgage secondary market, and tax credit programs when creating housing policies. RER also recommends the extension of the Terrorism Risk Insurance Act (TRIA), which will expire at the end of 2020, to provide insurance coverage to commercial policyholders. To spur economic growth, RER proposes the rapid implementation of various policy actions, including the 2017 tax reform law, incentives for smart energy conservation, and new credit and capital laws. |
AuthorCurrently, Eugene Gorab serves as the President and Chief Executive Officer of Greenfield Partners, LLC, a company he founded in 1997. Archives
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