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Hindsight Is Everything

New York
Hindsight Is Everything
Rhodes Associates' Ellen Haber, Iron Hound Management's Robert Verrone, Rhodes Associates' Jane Lyons, and Perkins+Will's Debra Cole
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.”