Australia is going strong
According to a Reuters article, Australia’s Macquarie Group Ltd may consider purchasing American REITs as early as next year. With Westfield’s recent confidence in the Australian market, this adds to evidence that Australian business is weathering this economic downturn better than most.
From the article:
“I think in different segments of the markets, we’ll become active probably in the listed markets sooner than we do in the physical markets again,” he said. “We will see that 2009 will be a time to start dipping our toe into the water.”
Macquarie’s U.S. investments may take the form of takeovers of publicly traded company.
“We would only buy shares where we saw there was a strategic opportunity to privatize…to take it private and then restructure it such that we felt the value that we could get from restructuring it would be greater than the value we paid for it in the public market.”
