The story here is not only the listing of the Camden Courts condominiums but more importantly, the investment bridge for real estate investment that Sterling Income is building to Asian markets. Investors in Singapore, Malaysia and China seek to take advantage of an anticipated U.S. commercial real estate market recovery.
Foreign investment in U.S. real estate more than doubled last year, to $13.37 billion (from $5.6 billion in 2009), according to a real estate investment firm Jones Lang LaSalle. And this trend is expected to continue through 2011 and possibly beyond.
“Foreign investors, particularly those we have met in Asia, are committing capital to joint ventures with U.S.-based real estate investment managers like Sterling and investing in U.S. real estate.”, says Adam Barker, Principle at Sterling.
The Camden Court condominiums are a 64 unit project that was originally purchased below replacement costs through a bank foreclosure and is now being offered to the Asian markets as an investment property.
“As foreign investors examine the U.S. real estate market as an investment opportunity, they see a marketplace that has a strong upside. Supply and rental levels are improving. The drivers for foreign investors are our fundamentals and the value of the US dollar. We are expecting our deal flow and these very attractive investments to move quickly.” Says Antonio Zúñiga, Principal at Sterling Income Management.
Headquartered in Houston, Texas, Sterling Income, LLC is a strategic international real estate investment management firm. Sterling has a team of professionals focused on generating better than expected returns for its investors.
Media Contact: Adam Barker Sterling Income LLC, 713-894-3169, firstname.lastname@example.org
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