Eugene Gorab leads Greenfield Partners, LLC, as President and CEO. Since starting the business in 1997, he has been involved in real estate investing. Eugene Gorab and his team at Greenfield invest in a broad range of real estate properties and opportunities, such as direct investment opportunities.
In real estate investing, direct investments are those that come with an ownership interest in a real estate asset. This ownership interest could be partial or full, depending on the specific opportunity available. Institutional buyers are often more drawn to direct real estate investments since they are often larger in size. Such investments also grant the investor more control over their decision making since they are free to choose which assets they want to invest in based on their type or location. However, direct investments are not always the best option for everyone. Since they must be held for several years at a time, they are not liquid. This means that investors cannot sell their real estate investment until that period of time is over. Indirect investing, on the other hand, solves this problem with illiquidity. These types of investments grant investors a share in a private or public investment company, such as a real estate investment trust (REIT). Investors can more easily buy and sell these shares in a real estate asset. It’s also easier for investors to start indirect real estate investing since buying shares requires less capital and less time. This contributes to the fact that indirect investing also lends itself better to diversification.
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The CEO and President of Greenfield Partners, LLC, Eugene Gorab handles private equity real estate investments for clients. Active in the professional community, Eugene Gorab belongs to several real estate-focused organizations, including the Urban Land Institute (ULI).
Dedicated to inspiring best practices among real estate professionals and solving community challenges via philanthropic engagement, ULI shares new reports relating to the future of real estate development. One of the organization’s reports from June 2021 demonstrated that commercial real estate could dramatically reduce negative climate change by adopting more electric assets. The report that highlighted the importance of moving toward electrification in commercial real estate assets was called Electrify: The Movement to All-Electric Real Estate. While ULI acknowledged that total electrification will likely not be fully adopted for five to 10 more years, electrification is key to getting commercial buildings away from fossil fuel combustion. This shift will move society closer to a decarbonized future. However, the environmental benefits of electrification aren’t the only benefits worth noting. In the ULI report, the organization also acknowledged the financial benefits of having an all-electric building. These financial savings apply to both construction of the building and its future operations. Adopting all-electric assets also protects commercial buildings from impending regulations both in the United States and around the world. For more than two decades, Eugene Gorab has served as the CEO and President of Greenfield Partners, LLC, a private equity real estate firm based in Connecticut. Through his company, Eugene Gorab helps clients invest in multiple property types, which helps their portfolios stay flexible and diversified.
Many beginning investors are unaware of the different types of real estate. Here is a brief overview of the three main types of real estate: - Commercial. Properties that hold business operations are deemed commercial real estate. This includes industrial, office, and retail space. Since commercial property leases often last for several years, they can provide investors with stable cash flow. However, successfully investing in commercial properties may be more complex than investing in residential properties. - Residential. Townhomes, single-family homes, multifamily homes, condominiums, and mobile homes are all examples of residential real estate. Each type of property generates returns in a different way. For instance, multifamily homes create income from rentals, while single-family homes increase in value over time. Historically, residential real estate offers the best market growth of the three main types of real estate. - Vacant land. Buying vacant land may be a way of creating equity in a short period. Unfortunately, this requires a great deal of knowledge and skill. Further, land cannot produce rental income for investors unless it is farmland. This often means land investors must develop the property, but land development is a profession that requires a different set of skills. Eugene Gorab, the President and CEO of Greenfield Partners, LLC, has been involved in real estate investing for more than 30 years. Active in the professional community, Eugene Gorab supports the Urban Land Institute (ULI).
In its efforts to create thriving communities through responsible land use, ULI maintains several centers that bring together supporters, members, and staff members of the organization. One of these is the Center for Capital Markets and Real Estate. Since it was established in 2009, the center has furthered ULI’s work to educate, inform, advance policies, and foster communication in the real estate capital markets sector. Involved in tracking and analyzing global trends in real estate investments, the Center for Capital Markets and Real Estate plays an integral role in developing and guiding both new and ongoing ULI programs. The center gathers information from a wide range of sources, including conferences, forecast publications, and interviews to ensure that ULI members and other real estate professionals are presented with up-to-date information in the investment field Since the early 1990s, Eugene Gorab has been a leading authority in the field of private equity real estate investment. As the founder, President, and CEO of Greenfield Partners, Eugene Gorab has sponsored nine investment funds through Greenfield Partners, securing over four billion dollars in capital for various real estate investments. Diversifying your investment portfolio through commercial real estate allocations has numerous benefits. As an asset class, commercial real estate has great returns and presents relatively low volatility. The average returns of the NCREIF property index per year have exceeded those of the US Aggregate Bond Index from 1978 through 2018. It also has a low correlation with the stock and bond markets making commercial real estate a great way to diversify a portfolio. There’s also room to diversify within the asset class since different types of commercial property respond to different market drivers, thereby reducing risks and maximizing return on investment. A respected industry executive, Eugene Gorab has founded two successful financial institutions during his 30-year career. Before establishing Greenfield Partners in 1997, he was one of the founding partners of Starwood Capital Group and headed its Development and Land Groups division. Eugene Gorab maintains membership with several professional organizations, including the Urban Land Institute (ULI).
A nonprofit organization, ULI serves its more than 40,000 global members by providing an opportunity to exchange ideas and share insights with industry experts and policymakers on how to create better communities. In April 2019, ULI released its semiannual Real Estate Economic Forecast, a survey of real estate economists and analysts which looks ahead at the critical real estate and economic indicators from 2019 to 2021. According to the forecast, real estate transaction volume will reach $535 billion in 2019, compared to $562 billion in 2018. Furthermore, 2020 and 2021 will slip further with a projected transaction volume of $500 billion and $480 billion, respectively. Meanwhile, the rate of increase in commercial real estate prices will decline from 5 percent in 2019 to 3.7 percent in 2020 and 2.8 percent in 2021. Institutional real estate assets will yield total returns of 6 percent in 2019 and fall to around 5 percent in 2020 and 2021. An accomplished real estate investment executive, Eugene Gorab serves as the president and CEO of Greenfield Partners, where he oversees the firm’s activities including asset management, operations, strategy, and investor relations. Eugene Gorab is a member of various professional organizations, including the Urban Land Institute (ULI). Established in 1936, ULI advocates for the responsible use of land and the creation of thriving communities worldwide. Guided by its mission, ULI facilitates various programs that tackle some of the biggest challenges in cities and metropolitan areas. One such program is the Building Healthy Places Initiative, which was initiated by ULI’s Center for Sustainability and Economic Performance. The Building Healthy Places Initiative leverages ULI’s global networks to develop projects that create a healthy environment for people. One of the projects, Creative Placemaking, integrates arts and culture into public and private spaces to connect people and foster economic vibrancy in local communities. Meanwhile, the Food and Real Estate Project bridges the gap between food enterprises and real estate by raising awareness of the advantages of integrating local food production in the development of real estate projects. Visit https://americas.uli.org/ to learn more about the projects and resources supported by the Building Healthy Places Initiative. 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. 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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