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November 14, 2024

Political Backlash Has Already Undercut CRE’s Approach To DEI. Now It’s Expected To Get Worse

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The highest-profile opponent to corporate America's yearslong DEI push is preparing to take power.

President-elect Donald Trump has called for banning DEI programs and surrounded himself on the campaign trail with advisers like Elon Musk who have been publicly hostile toward these initiatives. This indicates that there could soon be a sea change in how the government handles workplace diversity. 

This shift, coming four years after a national reckoning on race made DEI a major focus for commercial real estate firms, could threaten the progress they have made on adding women and people of color to their ranks. 

“I imagine that there are a number of senior officials and companies now — even the most committed to DEI — who are trying to figure out, ‘How do we hold the line and keep doing what we’re doing in a way that doesn’t draw too much attention from the new administration?’” said Michael Posner, a professor of ethics and finance at NYU Stern School of Business.

Even before Trump won the election, the attacks on DEI from politicians on the right — coupled with last year’s Supreme Court ruling against affirmative action programs in college admissions — had already led companies to tamp down their promotion of diversity initiatives and take action to avoid lawsuits, according to several professionals who work on diversity efforts. 

Many firms that remain committed to DEI initiatives have softened the language around those programs to strip out the most politically divisive terminology, and they have hired experts to evaluate potential risks in their hiring practices. Those moves are likely to accelerate under a Trump administration, while other companies are expected to use his election to retreat from policies they felt coerced into embracing over the last few years. 

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Rent Growth, Waning Supply Draw More Investors To Student Housing

Rent Growth, Waning Supply Draw More Investors To Student Housing  

Multifamily has been drawing the largest share of investment dollars of any commercial real estate sector this year amid a difficult capital markets environment, and one segment within multifamily has emerged as an especially attractive pearl of opportunity for many investors.

The student housing sector, with double-digit rent growth and occupancy in the mid-90% range, is attracting a new, diverse array of debt and equity investment that is only expected to increase.

Industry executives at Bisnow’s Mid-Atlantic Student Housing Summit, held last week at The Westin Georgetown, spoke about the increasing appeal of student housing and the fundamentals that are poised to push the sector even higher on lenders' and buyers' wishlists. “You're also starting to see a lot more financing outside of maybe Fannie…

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AstraZeneca To Invest $3.5B To Grow U.S. Footprint

AstraZeneca To Invest $3.5B To Grow U.S. Footprint  

Cambridge, England-based biopharmaceutical giant  AstraZeneca is pouring billions of dollars into properties in the United States.  The company on Tuesday announced $2B in new investment for its U.S. research and manufacturing sites. With the infusion, the company plans to spend a total of $3.5B by the end of 2026. The money will be…

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Real Estate Roundtable CEO Jeff DeBoer On The Industry’s Top 4 Priorities For Trump's Second Term

Real Estate Roundtable CEO Jeff DeBoer On The Industry’s Top 4 Priorities For Trump's Second Term  

A new administration means a new federal policy landscape for the commercial real estate industry to navigate. 

President-elect Donald Trump's executive orders and legislative agenda will have major implications for real estate on issues from housing policy to tax rates to energy regulations. And industry lobbyists are gearing up to push for their priorities. 

Real Estate Roundtable CEO Jeff DeBoer spoke with Bisnow about the top priorities for his organization — which represents the interests of the commercial real estate industry — as the new administration comes into power. 

“Anytime that there's a turning of the page, there's an opportunity to emphasize new issues, or to bring priority to older issues that maybe have been pushed out by previous leaders,” DeBoer said.  One new issue the Real Estate Roundtable will be advocating for is the federal government creating an interagency…

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