The Real Deal Miami

New firm enters distressed market

September 17, 2008 04:37PM

A new vulture will be perched over South Florida’s distressed condo
market, as real estate investment firm Outlook Capital announces its
launch, along with the opening of its Miami headquarters at 927 Lincoln
Road. With funds raised from foreign capital, the company plans to buy up distressed and greatly discounted properties in the region, operate them during this period of low home values, and unload them when the market regains its health.

Bret Bobo has been appointed CEO of the firm. Bobo has experience with new development projects in South Florida, previously working as COO at YOO, USA, Inc on the Icon South Beach and the Icon Brickell projects. Before that, Bobo was vice president and partner at the Athena Group, working on the Waverly in South Beach. TRD