News
Hindsight Is Everything
November 08, 2010
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| The current recovering commercial real estate market is “a tale of two cities†(NYC and DC) and then everyone else, said Iron Hound Management Cos. founder Robert Verrone, formerly co-head of Wachovia's Real Estate Group, at last week's AREW luncheon at Club 101. Robert, here with Rhodes Associates' Ellen Haber and Jane Lyons, and Perkins+Will's Debra Cole, says that looking at what he called a snapshot of the past three years, “It feels like nothing's changed, as if everything and everybody's back.†And in hindsight, he felt it “seemed 100% obvious the world was going to explode." As for workouts? Brutal, long, and hard. To date, Iron Hound has done $2B in restructurings and “not one of them looked the same at the end as in the beginning.†|
