Who said only Joe and Jan Normals do flips? or Could there be a new show coming soon "Flip This Office Building"?
How about flipping a $7 billion office portfolio in 48 hours? I wouldn't mind that! According to the National Real Estate Investor website, "[r]umors of this side deal were first reported in the Wall Street Journal [on Feb 8, 2007]." (And I bet that they didn't even have to replace a kitchen! :)
The office space is being acquired by Harry Macklowe who already owns 6 million square feet of space in Manhattan. Real estate investor Larry Fiedler also suggests that up to 25% of Blackstone's ~$39 billion acquisition could be sold to Vornado Realty Trust, Starwood Capital and/or Walton Street Capital over the next few weeks. Wow!
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If you want to find out more about this blog post or what Esenai (my real estate and technology consulting company) can do for you, call me at 240-441-5086 or email me. (just remove the "-spamnot" from the email address.) Marvin a.k.a. eMarv
