Insights from TRD with Bob Knakal: 2011 will see a rise in distressed assets sales

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In this week’s installment of the new program Insights from The Real Deal, Robert Knakal, chairman of investment sales firm Massey Knakal Realty Services, says he anticipates a rise in distressed asset sales over the next 12 months. That would continue an upward trend that began this year, following a slow 2009 in which few commercial properties that were in default, foreclosure or bankruptcy, traded hands. “In 2009, the volume in the distressed asset area was very low, primarily because banks were simply not in a position to deal with their distressed assets,” he says. “We fully expect that activity in 2011 will be significantly in excess of 2010.” (Have a comment about The Real Deal’s new Web feature? E-mail Lauren Elkies at le@therealdeal.com.)