News
MULTIFAMILY MONDAY: Desperate for Affordable
September 19, 2011
| Non-traditional capital entering the equity space is ramping up and on the hunt for yield in a market where yield is hard to find, says AIG Asset Management-Mortgage Capital managing director Michael Medvin, who'll be speaking at Bisnow's third annual New York Real Estate Summit this Thursday. |
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| But it's cause for concern, he says: in primary markets, this capital's causing ballooning values. The trend will continue if long-term potential for low-interest rates stays put. But NY will always be a beneficiary of this capital, he says—AIG, for one, has plans to deploy $300M in the Big Apple this year. “We believe in the market and want to continue being here,†he says. What's driving people to NY? Find out from Michael, George Comfort & Sons' Peter Duncan, SL Green's Isaac Zion, Harbor Group International's Jordan Slone, Iron Hound Management's Robert Verrone, CBRE's Howard Fiddle, Katten Muchin Rosenman's Andrew Jagoda, and Royal Abstract's Martin Kravet. Great schmoozing, too! Sign up here. |
