Springer Capital provides comprehensive advisory and consulting services to investors and sponsors interested in mixed use real estate asset class.
Springer Capital specializes in the Mixed Use real estate asset class. We offer a suite of consulting and support services to U.S. sponsors and developers seeking to raise capital from Asia, connecting them with our deep pool of investors. Our experienced team of professionals, utilize relevant market data to thoroughly present a sponsor's project, experience, and capability to potential Asian investors.
Mixed-use is a form of integrated and pedestrian-friendly development that typically combines two or more uses, including residential, commercial, and institutional. In fact, mixed-use developments were the preferred form of living prior to the early 1900s, until increased industrialization and the automobile boom spurred the creation of suburbs as people became able to travel greater distances between residential and commercial establishments. Concurrently, governments imposed separate land use and zoning regulations for different purposes such as work, shopping, and schools to control the development of their respective regions.
In the last few years there has been an increased demand for mixed-use developments as consumers' preferences for integrated urban-lifestyle centers that cater to the “live, shop, work, play” mantra have become more pronounced. Interestingly, this lifestyle preference is not coming just from millennials, but also from older generations, who want to live in walkable and well-connected urban locales. Indeed, according to the 2017 National Community and Transportation Preference Survey, 62 percent of millennials, 45 percent of Gen Xers and baby boomers, and 55 percent of the silent generation want to live in walkable communities and prefer shorter commutes.
In addition to consumer demand, there are business reasons for developers to focus on mixed-use projects. First, tenants stand to benefit from increased exposure to consumers, since these spaces attract more foot traffic for diverse purposes. As a result, tenant attraction and retention can be improved through focus on mixed-use. Second, portfolio risk is diversified across different property types and uses, especially at a time when disruptive forces have rendered many single-use properties underutilized or irrelevant in a short span of time. This is true for many standalone office and retail buildings, which have lost tenants as the result of broader trends such as the sharing economy or retail store closings.
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