Tool Kit

6 Steps to Success in Commerical Real State from Richmond S. McCoy

UrbanAmerica CEO and real estate mogul Richmond S. McKoy

There’s no doubt that the commercial real estate market has seen better days. Along with the housing market, commercial real estate is going through a reset of values where even the top of the line Class A office buildings are selling at 2005-2006 levels – some 30%-40% off their highs. And with financing options continuing to be anemic and an economy that’s uncertain at best, those valuations are not expected to climb any time soon.

However, Richmond S. McCoy, president and CEO of UrbanAmerica Principals III (No. 3 on the BE Private Equity List with $1.1 billion in capital under management) says there are still money-making opportunities in this sector. UrbanAmerica invests in urban real estate and has a portfolio that consists of a resort hotel in Florida, several commercial office buildings, and a large industrial building in New Jersey.  Here are some of the tips he offers: