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Why vulture investors are finding less to feed on

The quest for distress is getting a lot tougher for Ramzi Hassan. The real estate crash created opportunities galore for investors like Mr. Hassan to buy commercial properties on the cheap as lenders unloaded bad loans or foreclosed buildings. But there’s less carrion for the vultures to feed on nowadays, as rising rents, occupancies and property values have allowed many landlords to avert trouble. And lenders have sold off much of their delinquent real estate loans or repossessed properties, reducing the supply of distressed assets to buy. “They are really running low on inventory,” says Mr. Hassan, vice president of Edwards Realty Co., an Orland Park-based investor that specializes in retail property. The rebounding real estate market is good for most landlords “but bad for opportunistic investors like us.”…Please click here to read Alby Gallun’s full story in Crain’s Chicago Business.

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