Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Portfolio > Alternative Investments > Real Estate

Big Apple Boom

Your article was successfully shared with the contacts you provided.

In looking at the most promising real estate markets around the country in which he can invest, CGM Realty Fund’s Ken Heebner is in a New York state of mind, and is particularly fond of the SL Green Realty REIT:

“I think the Manhattan real estate market is the strongest in the country. It is benefiting from increased headquarters activity as the economy expands [and] companies expand their headquarters; the vacancy rate has fallen below 10%; and (by the end of this year) I expect to see rent increases, generally, in this market to rise at over a 10% rate. So I think the Manhattan real estate market’s going to boom and I think this company [SL Green Realty] is a principal beneficiary of that. In fact, when I look back at the whole fund on March 31, [SL Green] is the second largest holding.”


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.