Orlando Sentinel
November 06, 2009

By Roger Vincent

...Among those poised to leap is real estate fund manager Xavier Gutierrez of Phoenix Realty Group. The New York-based company is sitting on $450 million it has ready to buy real estate. The money will be invested on behalf of pension funds and insurance companies, he said.

The current real estate scene is "definitely grim," Gutierrez said, but the outlook for three years from now and beyond is much better.

Apartments may be the first commercial real estate category to recover as a large cohort of people in their 20s leave home or stop doubling up with roommates when their economic status improves, Gutierrez said. ...