News & Press
NYREJ 2022 Year in Review Spotlight: Kevin McHale
What person, project, transaction or market trend had the greatest impact on your industry this year?
I have found that rising interest rates have increased pressure on building owners, investors, developers, and many other players in the industry. From the impact on cash flows, to the challenges it presents with refinancing and valuations, the interest rate environment is one of the most talked about items today.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022?
I assisted a multigenerational family that was originally advised to transfer real property out of a corporation as part of an estate plan, which would have triggered a substantial amount of income tax upon distribution. I restructured the deal through a partnership freeze technique to mitigate the income tax effect.
How has your career path changed in 2022?
This year, I have become more involved in transactional work. I also had the privilege of mentoring younger staff and have gotten more involved in business development, which has allowed me to make great connections with real estate businesses and service providers enabling me to expand my network.
What emerging trends will drive investment and development in 2023?
As costs continue to increase, I believe PropTech can help businesses become more efficient in making decisions about development, property management, and investment. It can help businesses explore new markets; they can use data to help with due diligence as well as streamline the buying, selling, and lending process.