Real estate investors in the US are waiting for the real distress to hit. Everyone knows its coming, but the volume of distressed assets to hit the market to date has been small in comparison to what is expected.
Here PERE presents the thoughts of two senior professionals, who took part in a special breakfast we hosted on the fringes of the annual fall Urban Land Institute conference in San Francisco in November.
Over the course of 10 days, PERE is presenting a summary of those 16 professionals’ perspectives on 2009, and their thoughts for 2010. The following are edited highlights from an article that appeared in the Dec/Jan issue of PERE magazine. Click here to view, subscribers only.
Jack Chandler, CEO Asia Pacific
LaSalle Investment Management
Splitting his time between Asia and the US, Chandler says the regions are a tale of two cities, in more ways than one. “There is an awful lot of speculation about the distress in the US and what the financial institutions will do in relation to their assets.” Whereas Asia, however, is a different story, and one where fundamentals have held up a lot better than in the US.
Kathryn Corro, Principal,
GPs and LPs alike understand only too well that communicating today will reap dividends for your future relationships. With GPs and LPs at various stages of acceptance in relation to the events of the past year, Corro adds: “We all have to be proactive in committing to an ongoing dialogue that assures that both GPs and LPs understand the pressures each is experiencing.”