Jeffrey Bernstein submits:"A rolling loan gathers no loss."
--Unnamed Banker, as retold by Joe Sitt
I was fortunate enough to attend IMN's recent US Real Estate Opportunity & Private Fund Investing Forum held last Thursday and Friday. The conference was well attended, I don't have an actual count, but it was as big as the Wall Street equity conferences I used to attend at the Sheraton years ago in the bull market boom days and there were so many Masters of the Universe present it was hard to get a seat in the main ballroom. The mood was grim but energized. What does that mean? Attendees seemed every bit as pessimistic about the commercial real estate market as I could have expected, although there was a range of views extending from "it's bad" to "fuggedaboutit." But nearly everyone was excited about the opportunity to eventually find bargains in the market for the first time in years.
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