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Posted: November 24, 2014
Gorjian of Namdar Realty: Acquiring opportunities
Name: Joel Gorjian
Title: Acquisitions & Dispositions
Company/Firm: Namdar Realty Group
Year Founded: 2001
Years in real estate industry: 5
Telephone: 516 773 0010
Email: [email protected]
URL: www.namdarrealtygroup.com
Twitter: Joel_Gorjian
LinkedIn: http://www.linkedin.com/pub/joel-gorjian/46/193/63a/
ICSC
Are investors finding the types of properties that they want right now? Are tenants happy with the sites available to them?
The real estate market is crazy at this juncture. I don't think investors are finding the homerun deals as they did during the downturn. However, a lot of groups, including ourselves are acquiring opportunities with tremendous value-add opportunity; mostly below-market rents or centers with high vacancy rates relative to the market. Once the asset is stabilized, investors will realize the return threshold they aim for.
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