GS Asset Management re-enters US commercial real estate, citing buying opportunities

Goldman Sachs is dipping a toe back into commercial real estate. GS Asset Management will restart “actively investing” in US commercial property this year. GSAM says the market is bottoming.

• GSAM see buying opportunities:
  “The reason is a combination of interest rates coming down, we feel like the market is bottoming out, and because we’re starting to see a floor in prices set by buyers who are in the market”

A GSAM executive was speaking with Reuters.

• has begun to deploy more cash in real estate in Europe and Japan over the past three months
• underlying strength of the U.S. economy should support a rebound in the U.S. market, but “We don’t think its going to be a very sharp V-shaped recovery – we think we’re going to bump along the bottom for a while, as a lot of these over-levered situations in the asset class get worked through”

This article was written by Eamonn Sheridan at www.forexlive.com.