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Taking the Long View of Recovery

NEW YORK CITY-Operators who retool now will be best positioned for the 'enormous' opportunities ahead, said panelists in GlobeSt.com's "Big Six Market Sectors" webinar.

By Paul Bubny | Updated on August 13, 2009

NEW YORK CITY-Keep the long term in mind when preparing for the market’s recovery, advised the half-dozen experts convened for the latest in GlobeSt.com’s webinar series on Wednesday. It may entail “a long, slow climb,” as panelist Bernard Haddigan described the outlook for retail, but even in that highly challenged sector, “the opportunities will be enormous.”

Haddigan, SVP/managing director at Marcus & Millichap Real Estate Investment Services, was joined by experts in office, multifamily, hotel, industrial and distress for the hour-long webinar. Titled “The Big Six Market Sectors: The Path to Profitability,” it was moderated by Cody Lyon, associate editor of the New York region for GlobeSt.com and Real Estate New York and charted the ways in which players in these sectors can retool to take advantage of the eventual upsurge.

While some of the panelists’ recommendations were specific to their sectors, others were applicable across the board. For example, Ric Campo, chairman and CEO of Camden Property Trust, spoke of strengthening his company’s balance sheets by deleveraging and raising capital–certainly a sound strategy for companies outside multifamily. And Jack Fraker, vice chairman at CB Richard Ellis, advised industrial owners not to lock in long-term leases now and thus miss the era of increasing rents that will occur in five years, but the advice arguably applies in other sectors.

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