Publications

- October 1, 2009: Vol. 3, Number 10

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Happy Hunting!

by Sheila Hopkins

Two years into the steepest downturn in memory, investors are beginning to dip their toes back into the market. Although the first ones to enter the still-churning waters may be viewed as the ultimate risk-takers, the properties they are hunting for are anything but risky. Today’s risk takers have joined the back-to-basics crowd. It’s not the high-flying, high-return opportunistic real estate that is attracting their attention — it’s the prime assets that are being offered at prices not seen in decades.

Finding prime assets continues to be something of a treasure hunt. Investors are starting with a map of Europe as their investment universe, and then slowly focusing on the prize by eliminating unsuitable markets and unsatisfactory sectors, then tossing out properties that don’t meet their — or, just as likely, their banks’ — investment parameters until they end up with the perfect asset.

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