Goldman Sachs to resume bets on U.S. property

Goldman Sachs Asset Management (GSAM) will resume “actively investing” in U.S. commercial property this year, reported Reuters, quoting Jim Garman, GSAM’s head of real estate.

“The reason is a combination of interest rates coming down,” Garman told Reuters this week at the MIPIM property conference. “We feel like the market is bottoming out, and because we’re starting to see a floor in prices set by buyers who are in the market,”

Garman said GSAM, the asset management arm of Goldman Sachs (GS.N), had begun to deploy more cash in real estate in Europe and Japan during the past three months, without quantifying its investment.