The Real Deal Miami

REIT researcher says commercial investors “back to business”

July 13, 2010 02:15PM

Mike Kirby, Green Street Advisors

While some industry experts , like investment management firm Pimco, say that commercial real estate’s outlook is shaky at best, Mike Kirby, president of real estate investment trust research firm Green Street Advisors, said that certain pockets of the market are showing a noticeable comeback. Kirby pointed to Manhattan and Washington, D.C.’s commercial properties as having “very robust increases in value,” in a sit-down interview with Time Magazine. International investment could also prove crucial for short-term recovery, Kirby said, with Middle Eastern and German buyers getting “back to business.” On the whole, Kirby said investing now would be “buying at the bottom of the cycle.” [Time]