REITing OUT THE STORM
|Yesterday, the local chapter of the Urban Land Institute met at the Union League Club to discuss differences between public and private REITs in recovery. We snapped AMLI Residential's Gregory Mutz (here with GEM Realty Capital's Lynn Jerath), who says AMLI had better operations as a public REIT with shareholders looking over their shoulders. Lynn believes her private REIT has more freedom to make riskier investments. Either way, she says class B assets will suffer unless they show significant potential for upgrade.|
Draper and Kramer's Bernard Cohen (here with IRR Corporate and Public Finance's Brandon Nunnink and Todd Linehan), says he's happy he recently made a deal that made sense. He bought a Walgreens in Montgomery with positive leverage. Brandon and Todd are busy looking at workout opportunities and are close partners with Draper and Kramer.