Why Sam Zell’s Argentina Investment Could Signal The Next Latin American Real Estate Gold Rush
Part of the reason for the creation of BRICKELL VENTURES, LLC, is to take advantage of opportunities in currency fluctuations in Latin American markets. As we face an exorbitant supply of residential condos in Downtown Miami, it is important to understand the causes of this glut, and the motivation of many sellers. We are already seeing motivated sellers, approaching us with offers to sell their units at significant discounts to purchase pricing, and in some cases, below replacement cost. Our theory is certain Latin owners are willing to take “losses”, because they can repatriate their capital back home, and either reduce or eliminate the loss in there home currency.
The article below discusses how one of America’s most astute real estate investors, Sam Zell from Equity International, backed by Goldman Sachs, is investing in Argentina, for the first time in more than 15 years. The reason for this is a new wave of political and financial certainty in the country. For these same reasons, many of the Argentine buyers of Miami condos are now eager to bring their investments home, for the first time in many years. BRICKELL VENTURES, LLC stands ready to aid these owners by being the area’s number one buyer of residential condos in Greater Downtown Miami.