Commercial REITs in the U.S. could be primed for takeovers as early as next year, according to Mark Baillie, head of Macquarie Real Estate Europe and North America. Baillie said that until then, however, the unit of Australia's Macquarie Group is holding off on making new investments. "We're focused not on growing at the moment, rather on battening down the hatches," Baillie said during Wednesday's general session at NAREIT's Annual Conference.

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