Opinions and insights on alternative investments with a focus on real estate securities.
Friday, March 28, 2014
About Time
I have been waiting to read about investment funds moving into Spanish real estate. Here is a Bloomberg article on a new REIT, Merlin Properties SA, being formed to buy commercial real estate in Spain and to a lesser extent Portugal.
Good stuff. I'd love to pick up a little condo in Andalucia if I had the time to do the DD. I think Spain will be a risk for some time, but that's the opportunity...
Do it! At this point in Spain's recovery I think DD is as simple as picking a neighborhood or complex. I suspect, like the US, there won't be much new construction for years.
Is Spain really recovering? I mean, unemployment is ~27% (worse than ever) and debt / GDP is around 94% (also worse than ever). I just don't see how any of their fundamental problems have been addressed, but then again that's probably why I don't oversee strategy for a REIT.
Good stuff. I'd love to pick up a little condo in Andalucia if I had the time to do the DD. I think Spain will be a risk for some time, but that's the opportunity...
ReplyDeleteDo it! At this point in Spain's recovery I think DD is as simple as picking a neighborhood or complex. I suspect, like the US, there won't be much new construction for years.
ReplyDeleteIs Spain really recovering? I mean, unemployment is ~27% (worse than ever) and debt / GDP is around 94% (also worse than ever). I just don't see how any of their fundamental problems have been addressed, but then again that's probably why I don't oversee strategy for a REIT.
ReplyDelete