Silverstein is raising over $1.5Billion for office conversions!
One of New York's most prominent office developers is raising a huge fund to put some office buildings out of their misery. In my recent videos, I've explained that smart money is looking to be a part of the transition and we see it start.
Silverstein Properties is seeking to raise $1.5B to fund office conversions, hoping to acquire washed-up office towers in New York and other major cities and redevelop them into apartment buildings.
That $1.5B could be just the start, this could be a “$10 billion-plus” opportunity Silverstein CEO Marty Burger told Bloomberg.
I expect to see office-to-storage conversions on the rise too! If you are serious about real estate, you should be thinking about how you could participate as well.
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