NEW BRUNSWICK, NJ-Following an eventful first half, the last fewsessions of RealShare New Jersey focused on opportunities indistressed assets, overall investments and mixed-use. “As everyonehere is no doubt aware, we’ve heard a lot of talk about distressover the past few years but we haven’t seen as many transactions,at least not when it comes to physical real estate,” said moderatorAlyson Grala, managing editor of Real Estate Forum. “But with wellover one trilling in commercial real estate debt maturing in thenext few years, there could be more buy opportunities.” With her todiscuss what investors should consider before buying and sellingwere Bob Martie, executive vice president of the New Jersey regionof Colliers International; Billy Procida, president of WilliamProcida Incorporated; KABR Real Estate Investment Partners partnerAdam Altman; and Jonathan Schultz, managing principal of OnxyEquities LLC.

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According to Procida, "There are big opportunities in one- tofour-family housing right now.” The reason: volume. “In the pastsix months alone, there have been well over 80,000 foreclosures butonly 8,000 sold at auction,” he said, predicting that by fourthquarter 2010 there will be a deluge of one- to four-family housingopportunities nationally. "These are assets that are in foreclosureor REO, so they are typically beat up and non-habitable, creating agreat opportunity for the industry to morph into propertyowners."

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The second area of opportunity, according to Procida, is "thetremendous amount of half built jobs. Banks are not pushing onforeclosures and developers are underwater," he continued. "Beforewe see development again, we need to finish what we started." Thiscould mean a focus on smaller infill projects around megadevelopments.

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“In the last major real estate downturn the federal governmentcreated the RTC, which effectively wholesaled sour deals back tothe market at a market-adjusted basis,” said Martie. “This servedto stimulate activity, but this time around, the government isactually staunching the tide of assets that could potentially hitthe market.”

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Still, there are opportunities out there for investors,according to the “Investment Opportunities in New Jersey” panel,which was moderated by Edward Hunter, chair of the real estatepractice group at Lowenstein Sandler PC, and included panelistsJose Cruz, senior managing director of HFF; Michael Fasano, vicepresident and regional manager of Marcus & Millichap; Cushman& Wakefield vice chairman Andrew Merin; CB Richard Ellis seniorvice president Kevin Welsh; and Chip Walters, principal atPrudential Real Estate Investors. Fortunately, for the GardenState, a lack of overbuilding has helped to sustain it better thancontemporaries such as Florida or California: the peaks are not ashigh and the valleys, not as low.

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What’s more, Fasano said, it is helpful to finally have a goodidea of how the state is moving forward, as opposed to the previoustwo years where industry professionals were "challenged to findwhat the next six, 18 and 24 months would bring us."

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During the “Reworking Mixed-Use” panel, NAIOP New Jersey CEOMichael McGuinness had his eye on governmental policies. “Withfewer acres of land to develop combined with empty lots of producttypes that are pass

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