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MIAMI'S REAL ESTATE INVESTMENT OUTLOOK IS AMONG BEST IN U.S., EQUITABLE REAL ESTATE EXECUTIVE TELLS BEACON COUNCIL MEETING

 MIAMI, Dec. 16 /PRNewswire/ -- Miami's 1993 outlook for real estate investment is one of the best among major U.S. cities, according to the president of Equitable Real Estate Investment Management, Inc.
 Douglas A. Tibbetts, who manages daily operations for Equitable's $88 billion real-estate management company, said Monday that the economic stimulus resulting from post-Hurricane Andrew rebuilding and ongoing interest from foreign investors, primarily from Latin America, are major factors that place Miami "probably within the top four or five" U.S. real estate markets.
 Tibbetts spoke at a luncheon sponsored by The Beacon Council, Dade County's business and economic development organization. The luncheon was part of The Council's "Building a Brighter Future Together" series of symposia and community-wide events focusing on Greater Miami's future.
 He said post-Andrew rebuilding efforts are providing Greater Miami with "extraordinary cash infusion and job growth, and the unique ability to replace the old with the new and the ability to become much more efficient and more attractive as a city.
 "When you add them up, they are all the things any major city would want today," Tibbetts said. "With new investment capital, job growth, new construction and ongoing growth in trade with Latin America, there are tremendous investment opportunities here."
 He added: "It's real unfortunate that you had to get there through a disaster, and that the price tag had to be so great. But most disasters tend to bring stimulants with them, and those stimulants are here and very active."
 Tibbetts and Robert E. Thrower, Equitable's senior vice president for its Southeast U.S. region, also presented results of Equitable's "Emerging Trends in Real Estate: 1993" survey.
 In the annual survey, based on interviews conducted with 100 industry executives last August and September, Miami rated 10th among 16 cities in the "restored investor confidence" category.
 Tibbetts emphasized that the survey was conducted when "the initial impact (of Andrew) was so negative" and before it became apparent that rebuilding would generate new jobs and construction.
 "If it (the survey) were taken today, I'm sure Miami would be up closer to the top," he said.
 Equitable's commercial real estate investments include more than $1 billion in South Florida properties. Dade County properties it owns or manages include the Omni International Hotel, Dadeland Mall and the SunBank International Center.
 -0- 12/16/92
 /CONTACT: Abbey Chase of The Beacon Council, 305-536-8030/


CO: The Beacon Council ST: Florida IN: SU:

JB-SS -- FL015 -- 7864 12/16/92 16:14 EST
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Date:Dec 16, 1992
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