The trend of private real estate companies, such as Archstone, exploring initial public offerings will continue for the foreseeable future, predicts Jeff Horowitz, head of Americas real estate with Bank of America Merrill Lynch. Increasingly, as firms deleverage, they will turn to the capital markets for growth. "The public market offers liquidity. The public market offers growth capital. The public market offers these things because there have been great returns in our marketplace," Horowitz says.
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