| At the CREW luncheon last week, (topic: distressed properties), we snapped Jack Corgel, a professor at the School of Hotel Administration at Cornell, doing his best not to break into a lecture while introducing the topic. Thompson Hine's Susan Tarnower, Reznick's Hampton Mallis, and JLL's Kristin Mueller look on. Hampton discussed the tax implications of buying distressed properties and Kristin joked about some properties being the "most expensive bargain". She also noted what's NOT selling: A- and B- properties. When these sales come back, she says, then will the recession be over. Susan also gave us a nice shoutout when she said the best investment in distressed properties is multifamily..."if you were at the Bisnow event last week, you would know this." (Gosh, we're blushing.) She also noted that multifamily tends to go in and come out of distress quickest. |
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