Having earned an MBA from the University of Chicago, Eugene Gorab is the President and CEO of Greenfield Partners, a private equity real estate firm. Dedicated to keeping his finger on the pulse of the real estate market, Eugene Gorab belongs to such organizations as the Pension Real Estate Association (PREA), a non-profit trade association that serves and educates the institutional real estate investment industry.
As part of its work, PREA regularly shares news regarding the real estate market, such as the 2021 report of the top cities in the United States where apartments are getting bigger. The report was created based on an analysis of RentCafé data on apartment buildings with at least 50 units in 92 cities around the country. In these areas, the square footage of projects under construction at the time were compared to completed projects from 2010 to 2020. According to the reports, over a third of cities that were studied were building bigger properties compared to the previous five years. On average, square footage in apartments rose by 48 square feet. This increase in square footage was seen in one-, two-, and three-bedroom apartments. The report noted that the city with the biggest growth in apartment size was Everett, Washington. In this city, apartment sizes grew by 267 square feet, on average, and had an overall average size of 928 square feet between 2016 and 2020. Kirkland, Washington showed the second-highest increase in apartment size, followed by Scottsdale, Arizona; Midland, Texas; and Fremont, California. This increase in average size is linked to the increase in remote work and, thus, rise in demand for at-home office space.
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Serving as the President and CEO of Greenfield Partners, LLC, Eugene Gorab has led the successful private equity firm for the past 20 years. Also active in professional organizations, Eugene Gorab attends meetings and conferences facilitated by the Pension Real Estate Association (PREA).
Established in 1979, PREA is a non-profit trade association representing more than 700 corporate member firms in the global institutional real estate investment industry. The next large PREA gathering is the Annual Investor Conference, which will be held October 16-18, 2019, at the Grand Hyatt hotel in Washington, DC. Part of PREA’s 40th-anniversary celebration, the conference will focus on four decades of institutional investing, along with current and emerging trends in the real estate industry. Serving as 2019 conference co-chairs are Peter Braffman, JD, managing director of GCM Grosvenor; Drew Ierardi, managing director of investments at the Exelon Corporation; and Roberta Waxman-Lenz, a portfolio manager at the United Nations Joint Staff Pension Fund. Conference sessions will examine topics such as the impact of institutional capital on the marketplace and demographic shifts and urban renewals that are reshaping real estate investments. Find out more about the fall PREA conference at Fall.PREA.org. A real estate investment manager based in Connecticut, Eugene Gorab is the President and CEO of Greenfield Partners, LLC, a leading private equity real estate firm. Eugene Gorab is an active member of the Pension Real Estate Association (PREA), the preeminent association for the global real estate investment sector.
According to the latest PREA research survey, institutional investors have slightly increased their target allocations toward the real estate market so far in 2019. In 2018, 10.2 percent of investors targeted the market. That number is up to 10.4 this year. Commercial property remains an in-demand investment vehicle, with survey respondents indicating that they favor office, multifamily, and industrial real estate over the next 12 months. The study was conducted in conjunction with the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) and the Asian Association for Investors in Non-Listed Real Estate Vehicles (ANREV). The survey polled more than 150 leading institutional investors to glean their insights for 2019. To learn more about PREA and its market research, visit www.prea.org. |
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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