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NEW YORK CITY-When Dennis Yeskey, founder and managing director of Yeskey Real Estate Consulting & Investment, made a list of commercial real estate predictions for 2011, he gave himself an ‘A’ in most categories. Except for one. “Government action,” he said. “I was dead wrong.”
That’s why, this year, he advised the city’s best and brightest female CRE leaders at NYCREW’s “Global Trends in the 2012 Real Estate Capital Markets” event on Wednesday evening to watch out for Dodd-Frank legislation and new industry regulations that could effect commercial real estate.
"We’re looking at a Presidential year and a backlog of regulations, so if you’re a bank, now you’re going to be subject to them," he said.
After being blindsided by the debt ceiling debacle and the S&P sovereign credit downgrade, Yeskey—like many in the CRE industry—had greater expectations for the second-half. “We thought lots of things would happen in 2011 and there would be a lot more action,” he said. “We thought there would be clarity in the market and it would help the financial market and build investor confidence. But we were dead wrong.”
MANHATTAN — The New York chapter of Commercial Real Estate Women Inc. (NYCREW), which has many members from Brooklyn, will offer a road map to the economy and the real estate industry for the coming year at its meeting on Wednesday, Jan. 11, in Manhattan.
Dennis P. Yeskey, an expert on restructuring and reorganization, will discuss “Global Trends in the 2012 Real Estate Capital Markets” at NYCREW’s first event of its second decade from 6:30 to 8 p.m. at the offices of UBS Financial Services, 1285 Avenue of the Americas.
Yeskey, managing director of New York City-based global consulting firm AlixPartners LLP, will give an overview of the real estate and capital markets, focusing on relevant economic conditions and developments, and challenges and opportunities likely to occur during the coming year.
“Dennis’ analysis and predictions of what will happen in real estate in New York City, nationally and internationally have become an annual tradition for NYCREW,” said Karen Dome, 2012 president and a senior associate at Marcus & Millichap. “His discussions are always lively, accessible and useful.”
Yeskey joined AlixPartners in July 2009 to help grow the firm’s global real estate practice. Previously, he served as national director of the capital markets practice for Deloitte Consulting LLP. He also has worked with Kenneth Leventhal & Co., Price Waterhouse Coopers and A.T. Kearney Inc.
This session is the first of a number of events NYCREW has planned for 2012.
To register or obtain information on future programs, please visit www.nycrew.org
Dennis Yeskey will be presenting at IMN's Bankers Conference in London June 21-23, 2011.
Real Estate Roundtable in Washington, D.C.
June 2, 2011 - 2:20 PM, Sheraton New York Hotel
IMN 12th Annual US Real Estate Opportunity & Private Fund Investing Forum, “Club Deals, Separate Accounts, Co - Investments & Joint Ventures.”
Dennis Yeskey is moderating the CRE Update Session at Cushman & Wakefield Offices in New York City.
"Of course, commercial real estate fundamentals are still far from good, but I've never seen so much money sitting on the sidelines ready to pounce," says Dennis Yeskey, head of the firm's commercial real estate practice. "For investors and lenders who are able to get their houses in order, from streamlining operating costs to managing capacities, this could finally be a turnaround year."
In a study on the outlook for commercial real estate to be released at a later date, Yeskey writes that a "snapback" in commercial real estate deals could begin in late 2010.
His experience is echoed by a December DebtWire survey that showed almost 50 percent of the hedge funds and other distressed debt investors queried said that real estate offered the greatest opportunity this year.