SAN FRANCISCO—Mixed-use multi-family and retail investor Veritas Investments is one of the most active in the San Francisco Bay Area market, and recently concluded one of the largest refinancings in that city's history. GlobeSt.com recently caught up with Veritas CEO Yat-Pang Au to talk about current trends and opportunities amid a fast maturing investment cycle.
GlobeSt.com: Observers of the current real estate cycle say the nation's top-ten investment markets are getting overheated. With San Francisco apartments topping most everyone's list in recent years, what's the situation there?
Yat-Pang Au: As a global city and West Coast gateway to Asia, San Francisco is always a top 10 investment target, and the rebound from the recession has expanded the pool of investors. Prices have gone up significantly of course, but that just makes things more interesting for an experienced local firm like us in finding the right opportunities. The first round of investors post-recession grabbed incredible discounts; now, as the months pass by, you've seen investors with different objectives buying along the yield curve, such as large pensions and sovereign wealth funds with lower, longer-term return targets. On the other hand, opportunistic buyers with double-digit yield objectives have pretty much left San Francisco and are moving to secondary and tertiary markets.
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
Already have an account? Sign In Now
© 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.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
