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Boston’s Moving Up

Boston’s Moving Up
AFIRE chief Jim Fetgatter
As foreign investors zero in on opportunities for this year, they're more interested in US CRE that markets elsewhere, and Bostonhas moved up to third from fourth but is still far behind NYC andDC, according to the annual Association of Foreign Investors in Real Estate member survey. AFIRE chief Jim Fetgatter (above), says 72% of AFIRE members, who hold a total of $627B in CRE ($265B of that in the US), plan to invest more capital here this year than last, according to the survey conducted by The James A. Graaskamp Center for Real Estate. The US ranked four times as high as second-ranked UK as an investment target (if we can get Prince William to have his wedding at Fenway, it'd really sock it it to the Brits), and 60% of respondents said the US has the best potential for capital appreciation (54% more than China).Multifamily remains the primary target, followed by hotel and retail.