Canadian commercial real estate may be a profitable investment in coming years, Fairfax Financial Holdings Ltd. Chief Executive Officer Prem Watsa said.
“Commercial real estate is interesting, because of course it’s got the refinancing risk that’s coming in, particularly in the United States,” Watsa said today at a private-equity conference sponsored by ACG Toronto. “In the next few years, we think that might be an area that you might want to invest in.”
Watsa, 59, said there are fewer investment opportunities now than there were a year ago, when stock markets had dropped by about 50 percent and there were “many, many opportunities.” The head of Toronto-based Fairfax since 1985, Watsa has patterned his company after Warren Buffett’s model of value investing.
Read the full article by Sean B. Pasternak, “Canada Real Estate May Be Good Investment, Watsa Says” at Bloomberg (Nov 12, 2009).