Bruce Richards Sees ‘Amazing’ Opportunity in Real Estate (1)

Trillions of dollars of problematic commercial real estate will have to be worked out over the next two to three years, creating an “amazing amount of opportunity” for investors, according to Marathon Asset Management Chief Executive Officer Bruce Richards.

“There’s going to be problems because of all these loans that have been amended and extended into this calendar year, and been pushed out to next year, have to work their way through the system,” he said in an interview with Bloomberg Television on Tuesday.

Opportunistic buyers have been positioning to take advantage of the emerging turmoil after borrowing costs ...