Portfolio Property Management's Bass

There is a lot of talk in the industry today about distressed assets. We are starting to see some of them pop up around the country, but when will the deluge take place that the industry has waited for, and when will that money everyone talks about “sitting on the sidelines” finally suit up and get in the game? Marsha Bass, vice chairperson and chief operating officer of Portfolio Property Management, answers some of those questions in a conversation with GlobeSt.com. Her firm, which does as its title suggests, operates assets on a national scale without having a brokerage component. Portfolio Property Management currently operates a variety of different assets totaling five million square feet throughout the country in seven states.

GlobeSt.com: When do you see firms starting to buy up some of these distressed assets?

Bass: As far as acquisitions are concerned, it will still be down the road a bit. There’s a direct correlation with the money available and the level of acquisitions that are going on in the marketplace. The tightening of the credit market obviously had an impact. From a timing standpoint, it is beginning to loosen up a bit, and by the end of the year, or certainly early 2010, you’ll see folks making more acquisitions.