Shorenstein praised for timing of real estate deals

07/10/2008 | CoStar Group

Shorenstein Co. is focusing on buying properties in distressed markets, including the 607,000-square-foot Main Plaza office property in Orange County, Calif., from Maguire Properties for $211 million. "Our ability to quickly and expertly assess, underwrite and close transactions despite ongoing dislocation in the real estate credit markets means that we continue to see solid opportunities to acquire debt and equity interests in key Class A buildings, generating attractive risk-adjusted yields throughout our target markets," said Douglas Shorenstein, chairman and CEO of Shorenstein Properties.

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