Our premium DC Private Equity Real Estate Summit event arrives tomorrow, where one of our many expert panelists, Ritz Banc Group co-founder Nasr el-Hage Jr. will weigh in on foreign private capital investing in US real estate. Nasr, whojust returned from Abu Dhabi and Dubai where he spoke at the Private Equity World conference (above) says foreign players are chasing yield and looking for capital protection and transparency in the States,and adds that real estate owners here are clamoring for partnerships with money from the UAE and other Middle Eastern countries.
Here's the site of the under construction Marriott Marquis convention center hotel site, which counts an Abu Dhabi sovereign wealth fund as a principal investor. Nasr says that foreign private capital that doesn't have significant exposure to US needs an experienced general partner they can trust, to better deal with different tax structures and other economic factors stateside. He adds that foreign money doesn't seem to be affected by America's budget crisis, adding that foreign investors are looking long-term rather than focusing on short-term bumps. Sign up here for tomorrow's event at the St. Regis.
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