The World’s Largest Office Shoppers
This is Part 3 of our ongoing series… The World’s Largest…
Recently, Morgan Stanley Real Estate has been actively engaging in the office market, buying as much as $12 billion worth of office buildings in a 12 month period. Brookfield Properties Corp., SL Green Realty Corp., Hines and CB Richard Ellis Investors L.L.C. have also been actively buying. At time of economic downturn, it is a great time to buy properties, assuming you can withstand the weak economy. When the economy recovers, all real estate will become popular again and prices will rise for sure. The major issue with this current subprime crisis is the great adverse impact on the banks and financial services sector, which constitutes as a significant chunk of the office tenants in Class-A buildings. Bankers are generally higher paid than many counterparts in other fields, so the high-end housing market will suffer as well. Overall, the high volume of acquisitions by large companies can be a sign of confidence.
For more information about investing in office properties, I would advise contacting a professional who specializes in office properties in your area of interest.
