SHALAM TO NRC: STAY LEAN
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|Afterwards, we stopped by the Williams Club for a National Realty Club bi-weekly luncheon, keynoted by Taconic Investment Partners'Ari Shalam (with NRC prez Tom Graf of NorthMarq Capital), who helps set the direction for his firm's investments. His strategy: get close to your money and deal with existing assets in '09; acquire good assets from '10 to '12; and by '13, valuations will be at a level for selling. Quoting CBRE's Darcy Stacom, he advises "Stay lean until '13." We find everything is more credible in rhyme.|
|The NRC also welcomed its newest governor yesterday: Massey Knakal's northern Manhattan and Bronx guru Shimon Shkury, here with colleague and fellow governor Bob Knakal. Congrats!|