$2.1 Billion Invested for Real Estate Fund
Despite the slowing down of the US real estate market, investors see this as an opportunity for them to do things they wouldn’t have thought of doing when the prices were high. For instance, the Los Angeles real estate firm, CB Richard Ellis just closed a $2.1 billion investment fund. The money will be used to buy properties nationwide.
Through this fund, the firm will be buying both properties that are only in need of minor repairs and those that need more improvements. The latter will fund real estate development.
CB Richard Ellis Investors is an independently operated affiliate of Los Angeles-based CB Richard Ellis Group Inc., the world’s largest real estate brokerage.
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