This question has probably been on the minds of everyone involved with commercial real estate. (If you're looking for the magic answer from me, you're not going to find it here.)
However, there are some interesting things happening.
There was an article in the Oct 10 issue of Silicon Valley/San Jose Business Journal by Katherine Conrad titled "$115M loan has Berg shopping". The article goes on to say that Carl Berg, chairman and CEO of Mission West, has borrowed $115M in order to buy distressed properties because he thinks that "There's opportunity out there."
Here's a link to the complete article. http://sanjose.bizjournals.com/sanjose/stories/2008/10/13/story2.html
Apparently, some of the "Vulture" funds have started gearing up, waiting for that major market correction, so that they can swoop in and pick up those bargains.
So the question is, do you follow the "smart money"? (Of course, it always helps to have some money to swoop in with.)
Your comments are always appreciated. Thanks for reading.
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