May 03, 2023 / 03:00PM GMT
Raymond C. Mikulich - Altus Group Limited - Independent Chairman
Good morning, everyone. On behalf of the company's Board of Directors, management and our team of 2,800 people, it's my honor to welcome you to the Annual Meeting of Shareholders of the Altus Group. I am Ray Mikulich, Chairman of the Board of the Altus Group. I think it's fair to say that a lot has changed in the world in the capital markets and the commercial real estate market since our last meeting. Central banks have continued to raise interest rates in an effort to contain the persistent inflation. Frankly, we'll see this afternoon if that effort is going to continue. The capital markets have responded by rebalancing towards attractive fixed income returns and away from the uncertainty of equity markets. High interest rates, economic uncertainty and the early signs of distress in certain sectors of the economy and certain property sectors now weigh on the commercial real estate markets. From the shift to remote work impacting office utilization to risk aversion stemming from the recent turmoil in the banking center sector, which is
Altus Group Ltd Annual Shareholders Meeting Transcript
Feb 12, 2024
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