Purgatory. It may be the best word todescribe the commercial real estate world in 2009. Sellers weren'tselling. Buyers weren't buying. Lenders weren't lending. And fearprevailed.
All that led to a defensive property management strategy. Butthe tide is turning in 2012. Indeed, there is more clarity in themarket. Trend lines are visible. And commercial real estateprofessionals are better equipped to manage what's coming down thepike. The result is that asset management has become more forwardthinking and proactive than fearful or defensive.
So the questions are, what is coming down the pike and what isthe best response? How should opportunities in broken projects anddebt be managed in 2012 compared to 2009? Where are theopportunities and what challenges remain to get the best return oneventual resales?
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