NEW YORK, N.Y., August 2, 2018 – Hoboken-based environmental consulting firm Atlantic Environmental Solutions Inc. (AESI) recently sponsored a real estate symposium and networking event in New York City. The event, which drew more than 60 real estate industry professionals, was focused on the topic, “U.S. and Global Outlook: Tax Cuts, Trade Wars and Rising Interest Rates.”
“This timely program provided attendees with valuable assessments of how the NY and NJ real estate markets are being affected by the new tariffs and federal tax cuts and the resulting impact on their bottom line,” said AESI President Michael Novak. “We were pleased and honored to present a distinguished panel of high-level speakers and bring such a diverse group of commercial real estate leaders together to hear these unique perspectives.”
Participating speakers included economist Julia Coronado, president/founder of Macro Policy Perspectives and an Executive in Residence and economics blogger for Rutgers Business School. Also participating as panelists were Morris A. Davis, Ph.D., Paul V. Profeta Chair of Real Estate and Professor of Finance and Economics/Academic Director, Rutgers Center for Real Estate; Scott Perkins, SIOR, Senior Vice-President of NAI James E. Hansen; Jonathan D. Stravitz, SIOR, Esq., Principal at SVN l BIOC; and Robert D. Pearson Esq., President of the National Realty Club.
“While there is still plenty of bluster and noise on trade policy, two things are becoming increasingly clear: First, the prospect of rounds of tariffs imposed by the United States and counter-tariffs imposed by our trading partners have moved from being a threat to a reality,” said Coronado. “Second, there will be no quick resolution. Trade negotiations are likely to drag on for months leaving some firms and industries managing the reality of tariffs and possibly other actions that affect their ability to do business and manage global supply chains.”
Discussion also focused on how a trade war could dampen the recent robust economic momentum. “Financial conditions in Asia, Europe and several emerging markets have indeed been tightening on the back of some loss of economic momentum as well as recent policy developments that will have a larger impact on countries more dependent on trade,” Coronado said, adding that financial markets in the United States have been largely resilient, in part reflecting the impact of the recent tax cut in boosting shareholder value.
Panelists Offer Insightful Commentary
Those in attendance appreciated the value of Coronado’s professional perspective. “I was pleased to help organize this informative event,” said Davis. “Julia writes a bi-weekly blog on macroeconomics and the Federal Reserve for the Rutgers Center for Real Estate, and with each article brings new and deep insights to our readers. She was able to share many of her observations on the future of interest rates and the state of the business cycle at this event, and the attendees seemed deeply interested and appreciative of her knowledge.”
Stravitz agreed: “SIOR could not be more grateful to Mike (Novak) and AESI for presenting this amazing program. It provided a wonderful atmosphere for meeting new people and engaging in meaningful conversation about the real estate industry,” he said. “One of the most important things Julia brought to our attention was the tariffs with China. If those are fully implemented, the shock waves due to the Chinese economy will influence the global economy and could cause an immediate recession.”
“The New Jersey Chapter of SIOR was pleased to be included in this enlightening program,” said Scott K. Perkins, chapter vice president. “Julia’s comments on the effects of rising interest rates is of particular interest because it affects our institutional client’s appetite for further acquisitions.”
Atlantic Environmental Solutions, Inc. (AESI) is a full-service environmental consulting firm active in New Jersey, New York and throughout the U.S., providing a wide range of services to assist clients in complying with complex environmental laws and regulations. With two decades of experience in the regulatory, technical, and management aspects of environmental issues, the Hoboken, N.J.-based firm has handled over $60 million in environmental projects at over 5,000 client locations across 47 states. Whether working with municipalities, industrial brokerage firms, transit village developers, REITS, general contractors, or utilities, AESI is committed to managing and resolving environmental concerns to save clients time and money and to ensure a better quality of life for communities and their residents.
Photo Caption: Pictured (from left) are Morris A. Davis, Ph.D., Paul V. Profeta Chair of Real Estate and Professor of Finance and Economics/Academic Director, Rutgers Center for Real Estate; Michael Novak, AESI President; Keynote Speaker Julia Coronado, president/founder of Macro Policy Perspectives and an Executive in Residence and economics blogger for Rutgers Business School; Scott Perkins, SIOR, Senior Vice-President of NAI James E. Hansen; Jonathan D. Stravitz, SIOR, Esq., Principal at SVN l BIOC; and Robert D. Pearson Esq., President of the National Realty Club.
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