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Foreign buyers make subtle shifts.

The 1990's will witness a subtle but important shift in international investment in U.S. real estate. The change is already in evidence at our company largely due to our reputation and proven track record for adding value to older buildings.

It seems like only yesterday that foreign investors had but one interest when it came to New York commercial real estate -- trophy properties located on prestigious thoroughfares. Today, that focus has shifted dramatically and we are finding unprecedented interest from overseas joint venture equity partners for properties in our burgeoning sector of the commercial marketplace.

Why? Because if you know how to add value to an older building through an in-house expertise that covers every aspect of the redevelopment process, you can dramatically revitalize the property as well as its bottom line. Today, overseas investors are beginning to discover what many institutional owners here in U.S. already know 'that development firms with in-house leasing, property and construction management, accounting and legal capabilities, make ideal managers and partners because they're best suited to the task of asset management.

There can be no argument that value-oriented management --coordinating all aspects of a redevelopment project with an emphasis on detail and a hands-on approach, ie., inspecting each property everyday, monitoring operational performance and building progress and tenant capital improvements -- improves a property's long-term profitability.

There can also be little question as to the SL Green management record. By successfully adding value to our own buildings, rather than simply waiting for inflation to increase profitability, the SL Green portfolio has over the years consistently out-performed the marketplace regardless of market conditions. That is the basis today for our international reputation as an effective handson asset manager with an unmatched track record for achieving bottom line objectives. our success in achieving a property's optimum value is inherent in our asset management philosophy, namely, to always involve each of our firm's principals in the leadership and implementation of every aspect of our service. Our firm's key executives ensure that every function reflects the owner's perspective.

As our roster of overseas joint venture partners expands in the nineties, our formula for success remains remarkably simple - an emphasis on relationships guided by principals for principals will always yield the highest profit for ownership. Strategic and effective leasing programs, personalized management and creative capital improvements, combined with our relationships across the marketplace, will continue to give all of our partners, overseas as well as domestic, a tremendous edge in the Manhattan real estate marketplace.
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Title Annotation:Review & Forecast, Section I; international investors in U.S. real estate seek development firms with in-house leasing, property and construction management
Author:Green, Stephen L.
Publication:Real Estate Weekly
Date:Jan 27, 1993
Words:417
Previous Article:Broker/technicians now the norm.
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