CEO says real estate may be best local investment

What’s likely to be an investor’s best bet along the 10/12 corridor in the next few years? Stirling Properties CEO Marty Mayer predicts it will be real estate in the hands of distressed owners who can’t find financing to refinance their commercial debt. He notes a huge spike in commercial mortgage maturities through 2012 likely will present opportunities for “those people who have cash and are able to move quickly.” Mayer predicts such opportunities will arise all along the corridor, although not to the extent that other regions of the nation have experienced. “Our motto around Stirling Properties is TGIIF, ‘Thank God it isn’t Florida.’ We’re in the best place at the best time to be in the country. We’re feeling some pain, but be glad we’re not Florida, California, Nevada … they are really crying the blues. Louisiana is still one of the bright spots in terms of retail activity.” Mayer made his remarks this morning at the Louisiana CEO Forum, presented by 10/12 magazine at the BizTech Expo. Other speakers included Powell Group CEO Nanette Noland, Stine Lumber CEO Dennis Stine, Frantzen Voelker Conway Investments CEO David Voelker and Acadian Ambulance Service CEO Richard Zuschlag.—Penny Font