| We chatted over a cup of joe with Brand Properties' Michael Hoath and Reznick Group's Bruce Van Vreede at this morning's Breakfast & Schmooze. Like many other firms, Michael says Brand is actively attempting to buy distressed assets in the Southeastern market. Brand's sweet spot has been buying notes on performing and non-performing properties. ?Some of this stuff is probably as low as 15 cents on the dollar,? Michael says, though on average they're seeing property notes trading for 40 to 65 cents on the dollar. Most recently, Brand bought a non-performing note on a Clairmont Rd. shopping center and is now in workout mode. |
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