2Q Survey Finds Private Real Estate Investors Still Optimistic

Lee & Associates’ Investment Services Group conducts its second quarter national pollLOS ANGELES—July 15, 2010—In a second quarter survey by Lee & Associates’ Investment Services Group, the Los Angeles-based brokerage firm invited thousands of its clients nationwide to complete a short online survey consisting of eight key questions facing private real estate investors. The respondents included high-net-worth individuals, partnerships and other groups specializing in commercial real estate deals valued in the range of $2 million to $20 million. Mark Larson, vice chairman of the ISG and who specializes in land, investment and consulting brokerage, spearheaded the survey. “While there does seem to be some thawing on the investor front, which seems to be evident with Lee offices reporting...

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Mountain Real Estate Capital Attempts Real Estate Alchemy

Mountain Real Estate Capital (MREC) closed its second joint venture equity investment in the last two months, along with a major REO purchase from an Atlanta bank. It is working with homebuilders to rejuvenate these distressed assets into new revenue streams.At the end of June, MREC acquired a Cedar Bay subdivision in north Jacksonville, Fla., to go with another set of properties called Heron’s Walk. The $4m investment venture with GreenPointe Communities in Florida, a residential real estate developer, includes 187 home sites with prices ranging from $175,000 to $275,000. Under the joint venture, MREC and GreenPointe plan to construct 78 homes at Cedar Bay and sell the remaining homes at Heron’s Walk to homebuilders.View the full article her...

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