The new year brings in a number of opportunities given the remaining uncertainties in this economy. Fawkes is studying construction projects that are stymied by unexpected remediation problems; construction projects in the hospitality and housing industries that have been held up by the difficult financial markets; office and industrial portfolios of corporations that are rethinking their excess real estate portfolios as well as companies trying to expand into this difficult market. So yes the economy is struggling in most sectors but Fawkes is optimistic that opportunities can still be found. This market reminds a number of Fawkes partners of their activities with French financial institutions in the early 90’s.
Fawkes is also expanding its brokerage operations to the specialty area of aggregate operations. This was brought about by the need for such operators to find new strategies for their land operations once they have completed their harvesting phases. Many are eager to understand how they can continue to benefit from assets they have long since written-off. The existing brokerage activities with income producing properties will continue especially in Arizona.
Please keep us informed of any foreign partners looking for hands-on local market professionals.