{"id":8050,"date":"2023-06-23T20:48:48","date_gmt":"2023-06-23T20:48:48","guid":{"rendered":"https:\/\/imsfund.com\/?p=8050"},"modified":"2023-06-23T20:48:48","modified_gmt":"2023-06-23T20:48:48","slug":"as-the-commercial-market-falls-apart-these-three-assets-could-be-your-next-big-opportunity","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/06\/23\/as-the-commercial-market-falls-apart-these-three-assets-could-be-your-next-big-opportunity\/","title":{"rendered":"As the Commercial Market Falls Apart, These Three Assets Could Be Your Next Big Opportunity"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\">\n<button class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<h2 class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In this article<\/h2>\n<p><\/button><\/p>\n<\/section>\n<p><span data-preserver-spaces=\"true\">Offices across the country are still sitting empty. The nationwide office vacancy rate reached a\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.us.jll.com\/content\/dam\/jll-com\/documents\/pdf\/research\/americas\/us\/jll-us-office-outlook-q1-2023.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">high of about 20%<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0in the first quarter of 2023, according to JLL, and while big tech companies are\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.axios.com\/2023\/06\/13\/companies-aggressive-return-to-office\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">pressuring workers<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0to return to the office, the hybrid work model has led to an increase in commercial office delinquencies. According to Trepp, a real estate analytics firm, the office delinquency rate surged 125 basis points in May to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.trepp.com\/hubfs\/Trepp%20Delinquency%20Report%20May%202023.pdf?hsCtaTracking=8163d8bf-8e6e-40ca-86a5-587c0edcb8ac%7Cd60a7bc9-0134-4bef-966f-bee48fbfd339&amp;utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosmarkets&amp;stream=business\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">over 4%<\/span><\/a><span data-preserver-spaces=\"true\">.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This spells trouble for the commercial real estate market and the broader economy, according to some experts. Analysts at Morgan Stanley are predicting a decline in commercial property values of\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.usatoday.com\/story\/money\/personalfinance\/real-estate\/2023\/04\/07\/commercial-real-estate-price-drop-morgan-stanley-report\/11620997002\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">up to 40%<\/span><\/a><span data-preserver-spaces=\"true\">, a crash akin to the 2008 financial crisis. Fred Cordova, CEO of Corion Enterprises, believes the crash is\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/commercial-real-estate-crash-mortgages-offices-federal-reserve-interest-rates-2023-6\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">already underway<\/span><\/a><span data-preserver-spaces=\"true\">. But while most firms agree the office sector is under stress, some are more optimistic than others about the outcome for commercial real estate. For example, UBS Global Wealth Management asserts\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/markets.businessinsider.com\/news\/bonds\/commercial-real-estate-loan-defaults-svb-offices-banking-crisis-deliquencies-2023-4\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">the problem is manageable<\/span><\/a><span data-preserver-spaces=\"true\">, and a crash resembling 2008 isn\u2019t likely.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Peter Margolin, National Broker Network Manager at\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.alliantcreditunion.org\/about\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Alliant Credit Union<\/span><\/a><span data-preserver-spaces=\"true\">, agrees. \u201cWhile we do not think the CRE market will fully crash, we do believe there are certain markets that are going to struggle more than others going forward,\u201d says Margolin. \u201cThis cycle is different from 2008, in that the capital markets are still open, if not as liquid as they were last year. Today, there are still commercial real estate lenders like Alliant that are actively lending on specific asset classes demonstrating strong demand to borrowers with sound credit quality.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Commercial real estate has been historically viewed as a\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.fdic.gov\/bank\/historical\/history\/137_165.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">high-risk investment<\/span><\/a><span data-preserver-spaces=\"true\">, according to the FDIC. Investors who risked purchasing commercial office space are finding themselves in a tight spot now that demand for the space has fallen, but there is a way out. \u201cThere should be opportunities for property owners to adaptively reuse their unoccupied office space,\u201d says Margolin.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Repurposing Vacant Office Space<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">While remote work is here to stay in some capacity, retail space demand is\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.forbes.com\/sites\/pamdanziger\/2022\/05\/15\/prime-retail-real-estate-is-hot-and-retailers-will-pay-more-for-it\/?sh=29a3638560c2\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">rebounding<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from the pandemic slowdown, and the outlook for self-storage\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.insideselfstorage.com\/market-conditions\/self-storage-market-outlook-2023-demand-real-estate-development-and-more\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">remains promising<\/span><\/a><span data-preserver-spaces=\"true\">. The demand for multifamily housing is\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/multifamily.fanniemae.com\/news-insights\/multifamily-market-commentary\/2023-multifamily-market-outlook-turbulence-ahead\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">expected to wane<\/span><\/a><span data-preserver-spaces=\"true\">, but housing shortages and rising rents in many markets still make the option\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.naiop.org\/research-and-publications\/magazine\/2023\/Spring-2023\/finance\/multifamily-offers-stability-in-the-face-of-uncertainty\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">attractive<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0to investors in the right locations.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFor older, less-amenitized buildings, multifamily and residential products are popular<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">conversions. This can include market-rate rentals, workforce housing, student housing,<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">senior housing, and even affordable housing, depending on location and market<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">demographics,\u201d says Micah Solit, Senior Project Manager at national real estate advisory firm\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.pmainc.com\/company\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Project Management Advisors, Inc<\/span><\/a><span data-preserver-spaces=\"true\">. Matt Silvers, Vice President at the firm, says \u201cOther conversion options are hotels and, depending on building size and configuration, self-storage, document storage, and technology uses, like life sciences.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">But what kind of an undertaking is required for these conversions, and can the cost be recouped? When does it make sense for commercial real estate investors to repurpose office space, and when is it not worth the endeavor? We asked several experts in the commercial real estate space so you can evaluate your options.\u00a0<\/span><\/p>\n<h3><span data-preserver-spaces=\"true\">Mixed-Use Retail\u00a0<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Shopping malls began dying out\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/broad.msu.edu\/news\/are-shopping-malls-dead-or-making-a-comeback\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">long before the pandemic<\/span><\/a><span data-preserver-spaces=\"true\">, and the retail space sector has been shifting towards services since reopening. Mixed-use retail is gaining momentum as people seek more amenities where they live and work. The homebuying slowdown may contribute to the popularity of mixed-use space as well. \u201cMixed-use is the past, present and future,\u201d says Sean Slater, Senior Principal at\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/rdcollaborative.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">RDC<\/span><\/a><span data-preserver-spaces=\"true\">. That\u2019s especially true in areas of the country where multifamily housing is in high demand, like New York, where investors are rapidly\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.crainsnewyork.com\/crains-content-studio\/mixed-use-real-estate-percolates-new-york\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">developing Class B and C properties<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0into mixed-use space.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Repurposing office space to mixed-use retail works better than an office-to-retail conversion, according to Slater. \u201cMulti-level retail is rarely successful, and offices are rarely at street level, so taking a mixed-use approach seems to be most appropriate,\u201d he says. \u201cStreet-level retail and Food and Beverage with residential and smaller office lease spaces might diversify many vacant buildings without swinging too far into the residential-only conversion.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It\u2019s better for the future of the economy as well. Slater notes that office space is still in-demand and may even become undersupplied at some point if too many urban Class A office properties are converted to residential housing. \u201cI believe a patient approach and a move to diversifying within individual buildings will create a more stable market,\u201d he says.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Office tenants are paying an average of nearly\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.forbes.com\/sites\/markzettl\/2023\/02\/28\/billion-dollar-mixed-use-developments-demand-attention\/?sh=4adf3bae2209\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">25% more<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0for mixed-use space when compared to traditional office space, and investors can expect renters on the multifamily side to pay a premium for an amenity-filled building as well. But there are definite challenges, including finding the right management for a property with multiple use cases.\u00a0<\/span><\/p>\n<h3><span data-preserver-spaces=\"true\">Self-Storage\u00a0<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">While rents are\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.insideselfstorage.com\/market-conditions\/self-storage-market-outlook-2023-demand-real-estate-development-and-more\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">moderating<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0in the self-storage sector, the outlook looks promising when compared to other types of commercial properties. A conversion from office space to self-storage could be advantageous for investors holding onto a property with low occupancy rates.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWhile it can be a challenging undertaking, conversion of office floors can be rewarding,\u201d says Margolin. \u201cIn some cases, for truly outdated spaces, self-storage might even command higher rents than offering the space for office use. For example, lower floors with less ideal views would be ideal locations for storage,\u201d he says.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">But investors who choose to repurpose office space into self-storage face obstacles. \u201cThe good news is that there is likely plumbing and a lot of lighting already in place to tap into for storage conversion,\u201d says Margolin. \u201cThe bigger issue would be how much work has to be done with those floors to remove all of the walls, flooring, furniture, and other equipment to clear out the space before converting to storage use. The next biggest cost would be designing storage units to fit the floor plates and being able to transport the materials up to those floors.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Margolin says securing financing has also gotten more difficult but not impossible. \u201cThere is a natural trend that when the economic outlook becomes more choppy, traditional lenders pull back,\u201d but that creates an opportunity for non-bank lenders and private equity firms to enter the space and even work with more traditional lenders to offer note-on-note financing packages and A-note financings. \u201cFinancing is generally still attainable for strong credit borrowers on properties with strong fundamentals,\u201d says Margolin.\u00a0<\/span><\/p>\n<h3><span data-preserver-spaces=\"true\">Multifamily Housing\u00a0<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Despite housing shortages and rising office vacancies, the conversion from office space to multifamily housing remains an\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.cbre.com\/insights\/viewpoints\/the-rise-and-fall-of-office-to-multifamily-conversions-a-real-estate-investigation\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">uncommon solution<\/span><\/a><span data-preserver-spaces=\"true\">, and that\u2019s not expected to change because of the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.brookings.edu\/research\/myths-about-converting-offices-into-housing-and-what-can-really-revitalize-downtowns\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">significant costs<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0associated with making the switch. \u201cWhat investors must realize is that a conversion may ultimately cost more than a new development on a cost-per-unit basis,\u201d says Solit. But it remains a financially viable option in certain circumstances. \u201cOwners will have to get granular about the economics of their project and determine the market for additional residential units, along with a clear path toward re-entitling their building for this new use.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">States looking to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.fastcompany.com\/90885695\/we-have-to-move-fast-inside-states-plans-to-make-it-easier-to-convert-office-buildings-into-housing\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">promote conversions<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0have removed fees, implemented more lenient zoning change processes, and even provided tax incentives to redevelopers, but a 2022\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cre.moodysanalytics.com\/insights\/cre-trends\/office-to-apartment-conversions\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Moody\u2019s report<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0notes that office property values would have to plunge significantly to make the conversions worthwhile. In certain areas, however, it may already be the case that an office-to-multifamily conversion is a good solution.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cLocation is a major factor,\u201d says Solit. \u201cInvestors will want to limit jurisdictional and regulatory hurdles that could complicate a conversion, but there also has to be housing demand in the area, which drives values and rents. If the location works, the building itself should have a relatively high vacancy rate\u201d so owners can avoid lease buyouts.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFinally, the building itself is important. Operable windows, high perimeter density, and<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">shallow floor plate depth are all conversion-friendly features, presenting owners with more square footage for eventual living space. Adequate street frontage and open space around the structure also contribute to conversion readiness,\u201d says Solit. Silvers adds, \u201cOlder, smaller buildings tend to be more well-suited to conversion, rather than large, hyper-modern structures.\u201d<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">The Bottom Line<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Repurposing office space can be challenging, expensive, and altogether risky. But with increasing vacancies and delinquencies, even\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/articles\/distress-in-office-market-spreads-to-high-end-buildings-c1adad48\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">among Class A office properties<\/span><\/a><span data-preserver-spaces=\"true\">, some investors may find that it\u2019s necessary to adapt to minimize losses. Of all the options available, mixed-use retail conversions seem to be the trend, especially in areas where there\u2019s demand for live-work-play spaces, but self-storage and pure multifamily conversions are also viable options in certain markets. The outlook for commercial real estate is still unpredictable. However\u2014prices could further plummet, but the demand for office space may also rebound. It\u2019s essential to evaluate your individual situation before making any sudden moves.\u00a0<\/span><\/p>\n<div id=\"hero-block_62df1a82bfc88\" class=\"first:mt-0 hero-block py-4    has-background has-theme-gold-light-background-color has-text-color has-theme-gold-color\">\n<div class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n<div class=\"relative z-30 w-full \">\n<main class=\"py-4\"><\/p>\n<p class=\"has-theme-gold-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Get the Best Funding<\/p>\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\">Quickly find and compare investor-friendly lenders who specialize in your unique investing strategy. It\u2019s fast, free, and easier than ever!<\/p>\n<p><\/main>\n<\/div>\n<div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n<img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block\" src=\"https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Lender-Match.png\" alt=\"find a lender with lender match\" title=\"As the Commercial Market Falls Apart, These Three Assets Could Be Your Next Big Opportunity 2\"\/>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"italic\"><b>Note By BiggerPockets:<\/b> These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/with-commercial-real-estate-crashing-these-could-be-your-next-big-opportunity\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article Offices across the country are still sitting empty. The nationwide office vacancy rate reached a\u00a0high of about 20%\u00a0in the first quarter of 2023, according to JLL, and while big tech companies are\u00a0pressuring workers\u00a0to return to the office, the hybrid work model has led to an increase in commercial office delinquencies. According to [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":8051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/mixed-use-development-1024x517.jpg","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-8050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=8050"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8050\/revisions"}],"predecessor-version":[{"id":8052,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8050\/revisions\/8052"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/8051"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=8050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=8050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=8050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}