Trump administration could ignite commercial property growth and clear regulatory hurdles – Justin Clarke, Orbvest
Update: 2024-11-12
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Donald Trump’s re-election as US President is expected to accelerate the US economy, boost confidence, and benefit the commercial real estate market. That is according to Justin Clarke, the Director of Operations at OrbVest, a company that invests in medical commercial real estate across the USA. Clarke said a good economy boosts confidence, leading to more companies signing long-term leases, unlike the post-COVID era marked by uncertainty. In an interview with BizNews, Clarke highlighted the burdensome regulations in the US real estate, which cause delays and increased costs, and expressed the hope that the new administration might streamline these regulations to enhance efficiency. The influence of Elon Musk, who has become a close confidant of Trump, could lead to a push for the US government to deregulate, he says. Commenting on some of OrbVest’s medical real estate buildings that have not performed as expected, Clarke said that COVID led to tenants walking away from office spaces, and rising interest rates have caused challenges. However, he said, “the wind is starting to blow behind us.” Added to a changing economy is an ageing US population with increasing healthcare costs, which he said ultimately means more tenants and more money flowing around in the healthcare space. And here is an interesting titbit he shared: the US government has so far been OrbVest’s worst tenant.- Linda van Tilburg
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