{"id":163652,"date":"2010-01-10T21:12:10","date_gmt":"2010-01-11T02:12:10","guid":{"rendered":"http:\/\/www.businessinsider.com\/bludgeoned-commercial-real-estate-has-begun-to-entice-chinese-bottom-feeders-2010-1"},"modified":"2010-01-10T21:12:10","modified_gmt":"2010-01-11T02:12:10","slug":"bludgeoned-commercial-real-estate-has-begun-to-entice-chinese-bottom-feeders","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/163652","title":{"rendered":"Bludgeoned Commercial Real Estate Has Begun To Entice Chinese Bottom Feeders"},"content":{"rendered":"

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This is a good sign: disastrous US commercial real estate market is finally getting low enough to attract Chinese “bottom feeders.”<\/p>\n

Of course, there will be plenty of bottom feeders or vultures looking for opportunity, both foreign and domestic.<\/p>\n

But cash-flush Chinese are natural buyers.<\/p>\n

And you’d hope that the presence of bottom feeders means we’re near a bottom.<\/p>\n

FT<\/a>: Market participants warn that the activity represents “bottom-feeding” by opportunistic investors whose strategies could be derailed by rising interest rates. Also, sums are tiny compared with the debts that need refinancing. Nevertheless, the growing interest from investors is a sign of stabilisation, making it less likely that worsening commercial real estate conditions will sink banks and choke off a US recovery.<\/p>\n

“We believe the real story is that capital is ready to buy, even though it may not be so visible today,” said Bob Steers, co-chairman of Cohen & Steers, a real estate investment firm.<\/p>\n

Recently, state-owned China Investment Corporation has enlisted Cohen & Steers, Angelo Gordon and Morgan Stanley to identify commercial real estate opportunities, people familiar with the matter say<\/strong><\/span>.<\/p>\n

Read the whole story at FT — ><\/strong><\/a><\/p>\n

Join the conversation about this story »<\/a><\/p>\n

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