While so far opportunistic real estate investors have largely remained on the sidelines of the commercial property market, it seems things might begin to change pretty soon.
Yesterday, Florida Real Estate Journal reported that Stonemason Partners LP, a local real estate investment firm, completed initial fundraising efforts for a new fund through which it plans to acquire up to $100 million in distressed commercial assets throughout Southeastern U.S.
Meanwhile, Bloomberg published details on Sam Zell's new venture, a $625 million distressed fund through which the former head of Equity Office Properties Trust plans to buy commercial real estate mortgages for cents on the dollar. Zell has reportedly been working on the fund since July.
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