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| Oct. 26 2005, 11:46 AM ET |
public post by tennee9899
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Msg URL: http://www.bdcinvestor.com/forums/show.mpl?keywords=1130341561.24.7350475168993&so=200510
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Topic: ACAS
Re: ACAS' entry into the CMBS business ... --
The move surprised me, also. I feel that commercial real estated is at a top. A developer friend of mine is frustrated that the prices are getting so high, and the cap rates so low, it is tough to make a deal work.
On the other hand, deals are always available, provided you are patient enough and disciplined enough. Another friend is getting very, very wealthy in Class D, commercial space (industrial warehouses). Ugly to anyone driving by, beautiful on his asset/balance sheet. But, he is very patient and has a set of parameters he will not deviate from. Passes up on lots of deals, but the ones he does are usually quite good.
I have faith in Malon, et al, but will watch the development closely. It is good that they hired a very experienced guy to run the deal. We will see how it goes.
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