We have been saying this for two years now and here is a super prime example of what we are talking about: very wealthy individuals are buying iconic commercial office buildings and are beating out the investment funds who cannot pay as much for this level of return. London, NYC, Paris and Dubai are all showing this trend. For instance, in London recently:
the iconic Gherkin building sold to the Brazilian billionaire Joseph Safra for £725m and 6 St. James Square sold to Spanish billionaire Amancio Ortego for £265. We will be seeing more of this in 2015. Stay tuned!