Onex Corp. has announced that it plans to capitalize on opportunities in the struggling U.S. commercial real estate market.
"Our hope is that we will be able to partner with some of our institutional relationships to take advantage of the looming crisis in the U.S. commercial real estate industry," Onex managing director Andrew Sheiner told investors Wednesday.
Other Canadian companies with strong balance sheets and low debt have adopted a similar strategy as the U.S. commercial real estate market attempts to recover from the global financial meltdown and credit market crash. Avison Young CEO Mark Rose has made it known the brokerage firm has an aggressive U.S. expansion plan.
Onex's foray south of the border indicates the Toronto-based company could make wide-scale investors, especially as it plans to link with institutional investors, if it can find properties that fit.
Sheiner's comments were published in a Reuters article.
To check out the full story, click on the link below.
http://ca.reuters.com/article/businessNews/idCATRE58N3U320090924
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