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Article: Industry consolidation pushed by changing capital demands. (real estate)(Industry Overview)
- Article from:
- Real Estate Weekly
- Article date:
- January 22, 1997
CopyrightCOPYRIGHT 1997 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The real estate industry has emerged from "seven lean years," but investors and developers should not bank on a normal recovery cycle. Instead they should look for industry consolidations and a much slower pace of new development, predicts a leading real estate advisor.
"Historically, real estate is a feast or famine business, riding a cycle that goes from a low-fat diet to a seven-course gourmet meal," says Gary Lenz, managing partner of Arthur Andersen's worldwide real estate services group. "While many believe that we are again on the upward trajectory of the cycle, a sea change is under way in how real estate is used by business and viewed by investors. Those ...