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New Hotel Brokerage Firm in the Offing

SAN FRANCISCO-Curt Davis is launching the Davies Group, which will initially look to take advantage of the current distressed environment and will be concentrating initially on foreclosure opportunities.

By Michelle Savage | Updated on January 18, 2002

SAN FRANCISCO-Curtis Davies, a long-time broker with Grubb & Ellis, is launching a new commercial real estate firm called The Davies Group, which will specialize in the acquisition, disposition and development of hotels and resorts.

The Davies Group will look to take advantage of the current distressed environment and will be concentrating initially on foreclosure opportunities. Many hotels are skating on thin ice and unable to pay off debts. He sees this as a good opportunity for a developer to come in and turn things around by improving the existing site or converting the space for a different use.

In addition, says Davies, the company will be working selectively on exceptional development opportunities in areas with extremely high barriers to entry and realistic underwriting assumptions. “Creative minds are rewarded in a recession,” remarks Davies. “Entrepreneurs in a recession usually do very well.”

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