Will the United Kingdom’s exit from the European Union — called the “Brexit” — shape the United States’ commercial real estate landscape? Mark Stapp, director of the Master of Real Estate Development program, weighed in on whether or not we’ll feel any effects from it.
From Commercial Property Executive, June 24, 2016:
The U.K. is the single-largest cumulative foreign investment in the U.S. — about 20 percent of all cumulative foreign investment; therefore any uncertainty in the market would negatively impact the U.S.,” noted Mark Stapp, executive director, Master of Real Estate Development, W. P. Carey School of Business, Arizona State University, Tempe, Ariz.
“The question is: for how long?” he continued. “The potential impacts for U.S. commercial real estate include that the cost of capital could rise and foreign direct investments could decrease, especially if the value of the pound decreases compared to the dollar.”
Mark Stapp has been involved in planning, investing in, developing and consulting on real estate for 32 years. He is focused on investing in and creating environmentally sensitive and socially responsible real estate development.
About Mark Stapp