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Apollo Management founder predicts commercial property "bonanza"
There will be numerous opportunities to invest in commercial property during the next few years, one expert has predicted.
Speaking at Berlin's Super Return private equity conference, founder of Apollo Management Leon Black explained that there will be a shift in the market, as distressed debt investors move in to purchase real estate, the Financial Times reports.
He noted that as a lot of the sources of capital for business property have failed, banks and insurers will be under pressure from regulators and governments to sell their property loans on.
"So if you have capital, there are things you will be able to pick off," he remarked.
"Commercial real estate will be a bonanza," Mr Black was quoted as saying, adding that many of the "traditional holders" of such assets will be forced to sell.
Oliver Gilmartin of the Royal Institution of Chartered Surveyors recently observed that commercial property for sale is in growing demand across western Europe, with investors helping to lead the recovery.
Speaking at Berlin's Super Return private equity conference, founder of Apollo Management Leon Black explained that there will be a shift in the market, as distressed debt investors move in to purchase real estate, the Financial Times reports.
He noted that as a lot of the sources of capital for business property have failed, banks and insurers will be under pressure from regulators and governments to sell their property loans on.
"So if you have capital, there are things you will be able to pick off," he remarked.
"Commercial real estate will be a bonanza," Mr Black was quoted as saying, adding that many of the "traditional holders" of such assets will be forced to sell.
Oliver Gilmartin of the Royal Institution of Chartered Surveyors recently observed that commercial property for sale is in growing demand across western Europe, with investors helping to lead the recovery.
Wed, 10th Feb 2010