You’ve probably heard of Mastermind Groups by now, and maybe you’re even involved in one, but are you using them to drive your distressed real estate transactions? Ken Hecht is doing just that.
Ken was a key player in the Wang Towers deal, probably the most famous distressed commercial property transaction in New England during the late 80’s early 90’s real estate bust. The four principals in that deal went on to net approximately $15 million each from a $25,000 initial investment – yes, you read that right.
Ken later became an SVP at CBRE Whitier Partners where he founded their Retail Advisory Group. He has sold or leased nearly $500 Million in commercial real estate. Ken has developed and owned a number of retail sites with partners and JVs and he has developed more than 4 million square feet for a major national retail tenant.
In this episode of the Distressed Property Professional’s Podcast series, Ken and I talk about:
- How the Wang Towers deal went together
- Differences and similarities between opportunities in the 90s and now
- How to put together effective distressed assets networking groups
- What banks should do to minimize their commercial real estate losses
- A forecast for the future of distressed CRE opportunities
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1 thought on “Podcast: Distressed Commercial Assets Masterminds”
Great interview/podcast! Very informative. Very practical information.