David Steinbach News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Successful real estate investors have long followed the adage: When there is blood in the street, buy property. Historically, this approach has yielded dividends, and it explains the mindset behind a new venture from Hines, a real estate giant with over $93 billion in assets under management. Hines recently announced a new platform called Hines Private Wealth Solutions that seeks to capitalize on the recent troubles in the real estate industry. The management at Hines has been carefully watching

The firm, which already works with individual investors, wants to build up its relationships across private wealth distribution channels.

“This real estate correction began really over two years ago … So we're two years into a cycle, which means we're near the end,” says CIO David Steinbach.

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Hines wrote in the firm’s “2024 Global Investment Outlook” that U.S. commercial real estate is poised for a turnaround in the new year.