Latin American investors have long buoyed Miami’s residential market through turbulent times, but now South Florida’s commercial properties are also benefiting from capital originating south of the boarder, according to Miami Today.
Approximately 20,000 investors recently attend a real estate expo in Argentina. One of the attendees was Alex Zylberglait, Marcus & Millichap vice president in investments and director of the firm’s National Office and Industrial Properties Group. Zylberglait said that his firm attended the expo because they have noticed increased activity among Latin American buyers in commercial properties.
“The reasons are obvious: economic conditions in many Latin American countries are unstable. Some that were doing well are slowing down.” Zylberglait said. “As investment vehicles domestically become less attractive, markets are recovering here, and they are looking to place equity in markets that are more predictable.” [Miami Today] — Christopher Cameron