On October 29, 2009, Abe J. Schear, Co-Chair of AGG’s Real Estate Practice Group, was quoted on GlobeSt.com in an article titled, “Real Estate Community Greets Growth with Caution.” While the larger economy begins to show signs of recovery, the commercial real estate market, which traditionally lags behind other sectors during both growing and contracting economies, is not expected to bounce back at an equal pace. Investors, developers, as well as the banks and lenders, need to regain confidence in the market and see stability in real estate values before a recovery can occur. Despite the challenges ahead, in the article, Mr. Schear identifies a current market growth area: foreign investor interest in U.S. commercial real estate. He indicates that in this economy, foreign money “is looking to take advantage of the marriage of reduced pricing and a favorable currency exchange.”
To read the article, please click here.