REITs are raising cash to take advantage of bargain prices on distressed commercial properties and mortgages
(Source: Fortune Magazine)
These are tempting times for real estate bargain hunters. Whether it’s the tony [sic] house down the street with an asking price that keeps dropping or office space at a deep discount, if you have the means, there are deals to be had.
Individual investors snapping up foreclosed houses have helped boost home-sale figures sharply in recent months (although prices have remained depressed). And now some real estate investment trusts are raising money to fund acquisitions of distressed commercial properties.
Read Michael V. Copeland’s full article “Here come the real estate vultures” in CNN (June 22, 2009).