Commercial Real Estate Shows Resilience since COVID

​Based in the Chicago suburb of Wilmette, IL, John Hofmann is an accomplished executive with an extensive background in finance and real estate. Over the course of his career, he has held key positions at companies such as LaSalle Bank and The Carlton Group, among others. Since 2011, John Hofmann of Wilmette has served as senior vice president of KeyBank Real Estate Capital, which offers real estate capital financing for multifamily and commercial property investments.

According to Forbes, economists anticipate an economic downturn that is poised to affect the real estate industry. This prediction was made in mid-2022, when high inflation and rising interest rates suggested an impending recession. As of May 2023, roughly a year later, the speculation had not materialized.

In an interview, John Hofmann and other members of the real estate team at KeyBank in Chicago stressed how commercial real estate investments have historically kept investors afloat in previous economic crises and how these property types have demonstrated resilience in the middle of the COVID-19 crisis. Commercial real estate properties have a history of withstanding difficult economic situations, offering stable income streams and capital appreciation opportunities.

COVID-19 hindered the commercial real estate industry only transiently in 2020. Commercial properties like retail and industrial buildings have totally recovered from the pandemic downturn. Pandemic effects lingered in office buildings, which apparently are the only property types in this category exhibiting vestiges of the pandemic downturn. Mass transition to in-home office spaces is the main cause this sector has been slow to rebound.

John Hofmann, Wilmette

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