Having officially shelved its development program in 2008, North American Properties Atlanta founder Mark Toro tells us the company is playing offense as banks begin to release assets. What's it buying? Stop by our Capital Markets Breakfast & Schmooze this Wednesday morning to find out.
|Here's a teaser. ?We now find ourselves without legacy exposure, well-positioned to deploy capital,? he says. Underwriting three to five deals at any one time, Mark says NAP is looking for properties that need varying degrees of TLC (requiring minor or major ?surgery?), typically retail, mixed-use, or Class A multifamily in first-tier sunbelt markets. And it's a good time to be a buyer, as many banks have apparently built up adequate reserves to weather write-downs on distressed properties. ?We see significant activity on the horizon and I couldn't say that six months ago,? he says. ?Some assets are extraordinarily well-positioned.? Hear more from our esteemed panel at the JW Marriott on Aug. 18 at our Capital Markets event.|