Asset Overhang a Place for Opportunity

[IMGCAP(1)]CENTURY CITY, CA-It is no surprise to hear that activity remains pretty much muted industry-wide. And even though sales of distressed properties—which are expected to be the catalyst to re-energize investment—have yet to really materialize in earnest, experts at Thursday morning’s “Meet the Experts” panel discussion were insistent on finding areas for opportunity.

David Rifkind, a partner at George Smith Partners, served as moderator of the intimate discussion, which drew roughly 60 top executives to the Hyatt Regency Century Plaza hotel here in Century. He found that there are opportunities; it is just a matter of finding them. “Hopefully going forward, we will be successful in addressing the asset overhang,” he said, “and that is really where the opportunities should be.”

[IMGCAP(2)]Rifkind was joined by panelists including: Sean Crosby, a senior vice president at CB Richard Ellis Inc.’s retail valuation group; Adam Salis, a partner at Manatt, Phelps & Phillips LLP; Peter Roth, a partner at Allen Matkins Leck Gamble Mallory & Natsis LLP; and Matthew May, president of Sherman Oaks, CA-based May Realty Advisors.