2015 Annual Review responses by Andrew Deluski of BankRI
Andy Deluski, BankRI
Respondent’s Name: Andrew Deluski
Company: BankRIWhat was your greatest professional accomplishment in 2015? The greatest professional accomplishment in 2015 for me was achieving 25 years of working in the banking industry. I started off at Shawmut Bank in Framingham, Mass. in 1990 and now successfully at BankRI in Providence, R.I.What was your most notable project, deal, or transaction in 2015? My most notable project in 2015 was the acquisition of the Manisses Hotel on Block Island. It was a pleasure to work with Steve Filippi and the Filippi Family on their Block Island properties. What are your predictions for commercial real estate in 2016? The market will slow as some saturation will play into in 2016. The FED will increase the rates to curb growth. The uncertainty and political stage of who will be the next president will play a major role in the market and economy.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary