(Save the date: RealShare Chicago comes to the Union League Club of Chicago October 23.)
CHICAGO-US buyers looking for a better distress market than the bifurcation at home should still wait a couple years before looking across the pond, according to investment experts. While the alleged return-on-investment numbers are tempting, the uncertainty in the various Euro Zone countries still makes the risk still too hot.
As detailed at the CRE Finance Council conference held in Washington, DC last month, there’s still too much of a pricing gap that must be overcome in Europe, and banks there are still working to unload their bad loans, with about 2.2 trillion non-core and non-performing assets. Still, the US interest has started, says Steve Collins, head of the international capital group at locally based Jones Lang LaSalle. He tells GlobeSt.com that the big private equity firms, such as Fortress, Blackstone and Colony, are looking in Europe.
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