The Real Deal Miami

Investors look at commercial real estate market for opportunities

October 06, 2009 12:12PM

In the distressed commercial real estate market, so-called real estate “vultures” are swooping in to take advantage of low-cost opportunities. Barry Sternlicht, chairman and CEO of Starwood Capital, told CNBC’s Squawk Box team that the timing couldn’t be better. He said that despite the grim prospects for the commercial market, there are many investors who are looking at the current market as an opportunity to make strong investments. “Fundamentally, the risk equation for real estate has changed,” Sternlicht said. “You’re buying assets again at huge discounts.” But, there is a problem, Sternlicht noted — “you can’t get any financing.”