In A Market Shaped By The Pandemic, Patient Investors Will Be The Big Winners
Tens of millions of people filed for unemployment in the past few months, and the coronavirus pandemic still grips the nation. This may not seem like an auspicious time for investors to get aggressive, but experts say there could be opportunities for those willing to look.
Many of those opportunities will be in distressed or value-add properties, but at least for now, most investors are taking a breather, and trying to understand the constantly shifting landscape.
“April [investment sales] volume was down 71% from a year ago,” Blue Vista CEO Peter Stelian said Tuesday during Bisnow’s Chicago Deep Dish: Distressed Real Estate Opportunities webinar. “I have a feeling May volume is going to be down even more than April’s was.”
Good deals are already out there, he added. His Chicago-based firm is pursuing several industrial deals, one in the Pacific Northwest and two in the Midwest, including one in Chicago, but there are major challenges to completing proper due diligence.“How do you do a deal when you have to ask…
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