Nearly one week and $750 billion later, Don Henry, chief real estate officer of the Atlanta-based Wells Real Estate Funds, is still glued to his computer trying to figure out what the events of the last several days will mean for the commercial real estate industry. “No doubt we are in unprecedented times and the actions the Federal Reserve and Treasury Department want to take are equally unprecedented,” he tells Henry has a much clearer idea of what these events mean for his company, though: “In times like this I think everyone automatically reviews their investment strategy. In our case, even with hindsight, we wouldn’t have changed anything.” Going forward, the company intends to continue to invest in class A buildings in the top 25 markets. Wells has made invested some $800 million this year in such assets. It is moving cautiously on deals at the moment -– for obvious reasons — but Henry says it is possible the company will close out the year having made $1 billion in new investments. First, let’s talk about the economy. I realize no one has a crystal ball, but what is your best bet on a timeframe for recovery?

Henry: Even if the proposed Federal plan goes through and is successful, this will not be a quick and painless fix. My sense is that the economy will continue to be soft for the next 12 months.

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