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Wall Street Woes Hit Real Estate Markets

DENVER-Pension funds, life insurance companies and institutional owners could be sellers, according to the Denver office of Grubb & Ellis, as they work to re-allocate their portfolios in the wake of a declining stock market.

By John Rebchook | Updated on December 31, 2001

DENVER-As expected, the sliding stock market of much of 2001 rippled into the real estate investment arena, and Denver was no different than any other major city in the country. That’s the consensus of a report by the Denver office of Grubb & Ellis.

In 2000, the company notes, pension funds, life insurance companies and private investors were investing their paper profits into real estate.

This year, “the lack of confidence in the local and national economy caused many groups to scale back or completely cease with any further real estate acquisitions,” Grubb & Ellis notes. “As a result, the challenge for 2002 will be attempting to bridge the gap between buyer and seller expectations.”

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