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Think Globally, Act Globally

NEW YORK CITY-Real estate players who connect themselves to international demand will be the winners, said experts during Thursday's GlobeSt.com webinar.

By Paul Bubny | Updated on January 15, 2010

NEW YORK CITY-Real estate players with a focus on the global market will be the first to get in front of the recovery, panelists said at the sixth annual Transwestern/ Real Estate Forum Capital Markets Symposium, “The Long Road Back,” now available on demand as a webinar. “There is growth in other places and there will be growth again in the United States,” said Charles B. Leitner III, global of alternative investments at Rreef, adding that those who connect themselves to international demand “are going to be winners.”

While the previous edition of this annual symposium focused on gauging the length and depth of the downturn, panelists this year discussed how investors can translate the emerging recovery into real estate terms. Specifically, they charted possible signs of life in the CMBS market, the Obama administration’s role in assisting the industry, strategic opportunities in 2010, the budding IPO market and the need for equity in distressed-asset deals.

Schecky Schechner, managing director and US head of real estate investment banking at Barclay’s Capital, cited four factors affecting the availability of distressed properties. They included: the lack of pressure on banks to not simply kick the can down the road; the “pass the trash” assets that have come onto the market as a result of FDIC takeovers; “deal fatigue,” in which “lenders aren’t foreclosing, but borrowers are”; and “lender fatigue,” the point at which financial institutions recognize that it’s time to exit a deal, however painful that may be.

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