GLG News Analyses of the following article:

Downtown Miami condos pass 60% occupancy

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Published at: www.frej.net

Gavin CampbellFounder, Managing PrincipalSteelbridge Capital LLC

Foreclosures Set to Add More Years of Supply to Downtown Miami Condo Market

July 22, 2009

The article describes a recent study that takes comfort in the fact that "62% of units in new downtown Miami condo buildings are occupied..., defying the perception that the majority of high rises built in recent years are empty." But this ignores the fact that there is still a 10 year supply of unsold inventory at today's absorption rates and pricing , and ignores the fact that foreclosures of previously sold units increased 500% last year in Miami Dade, which will only add to the glut.

Downtown Miami, condo occupancy 60% ?

July 8, 2009

Analysis by: GLG Expert Contributor

As an expert in commercial real estate in Florida I have done privet studies for several customers on the market trend of  as well as projections of income returns and impact of the macro economy in the real estate market, this are privet studies which I cannot publish as per the request of the customer, however all that data belongs to my investigations.