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Apollo Commercial Real Estate Finance, Inc. Message Board

  • dreyfuss_beillis dreyfuss_beillis Aug 25, 2002 11:29 PM Flag

    west LA - better than CBDs

    with the exception of the upscale areas of midtown manhattan, there is no classier place to have an office for a professional than the west side of LA - Beverly Hills along Wilshire and the Westwood area near UCLA

    These are about as upscale as it gets and there are no further opportunities to build - this represents at least 25 percent of ARI's portfolio with about as high "barrier to entry" as it gets; when coupled with the build-out of the Howard Hughes project and some other development properties in the LAX area, there is a lot of room for growth in rents with minimal costs

    the across-the-board drop in office reits has provided a number of buying opportunities which, within the next 9-15 months, will prove to have been quite the bargain.

    unless one really expects a long, lingering business slump, it is unlikely that one could get hurt with these properties at these prices

16.92+0.090(+0.53%)Oct 28 4:01 PMEDT