News
NEW FOCUS FOR THE NEW ECONOMY
April 11, 2011
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| Foresite Realty Partners sold all its assets in 2007 and has been doing receiverships for the last four years. But that's about to change. The company's now grown to 135 employees and we're told it will become a buyer again in the coming years. Foresite's Don Shapiro (here with colleagues Jamie Hadac and Gary Nieder) says the foreclosure cycle has finally hit bottom. While there will always be some level of distress, he says, receivers won't be working ondozens of cases at once anymore after 2012. | |
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| Foresite has done receiverships on buildings from retail (like Main Street Design Pointe in Naperville) to apartments and warehouses and will focus on buying similar properties but without a conflict of interest with their receiverships. |
