The Real Deal Miami

Holly discusses fund plans

November 04, 2008 09:40AM

William Holly, founder of Coral Gables-based Holly Real Estate has
started a new investment fund to ferret out bargains in distressed
properties. He and former CB Richard Ellis executive Scott Sime plan to
buy up industrial centers in Miami-Dade County, and they already have
investors lined up. Holly says a shortage of land to develop makes
existing properties more attractive. He says the fundamentals suggest
prices should rise, but the overall economic environment and lack of
credit are creating a situation where there will be attractive
discounts for quality real estate.