He adds that the firm is also looking into new avenues of business, including more consulting, advisory and third party management work. "We're also seeing a lot of the fruits of our labor over the past two or three years finally come to fruition," Klein tells GlobeSt.com. "Deals that were stalled for court reasons or permitting situations have now started to turn lose, and those projects are going to accelerate."

Part of Klein's success can be attributed to his optimism. "If we all got up in the morning and looked at the clouds in the sky, we probably wouldn't get out of bed," he relates. "I'm a subscriber to the idea that we are going forward, not backwards."

As far as where the world is going, "there is a lot to be determined over the next few months," Klein says. "But we are starting to see opportunities crop up because people are more positive." Though he admits that we are likely to face more stress ahead, "most of the banks and insurance companies are trying their best to work out deals. If everybody agreed to stand still at this point in time, we'd come out of this downturn much faster."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.