Search
 

Notes on Sale

Buyers of distressed office assets will be taking notes this year. Lots of them. That's the word from those who track the market in the US, where note…

By Bob Howard - West Coast Correspondent for GlobeSt.com. | Updated on December 09, 2011

Buyers of distressed office assets will be taking notes this year. Lots of them. That’s the word from those who track the market in the US, where note sales figure to offer the most opportunities for investors in 2011, and likely in years beyond. “We’ll see significantly more note-sale business this year than last year,” says Peter Nicoletti, managing director of special asset services for Jones Lang LaSalle.

Spencer Levy, senior managing director of recovery and restructuring services at CB Richard Ellis Capital Markets (and a member of DAI’s editorial board) sounds a similar theme. “Of all of the resolution strategies between lender and borrower-short sales, REO sales and note sales-the one that really led the charge in 2010 was note sales,” says Levy, who expects such deals to lead the pack again this year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.