Wentz, CEO of Investors Real Estate Trust (IRET), Has Seen Worse Times, but Never Worse Sentiment

On the quarterly earnings conference call for Investors Real Estate Trust (IRET) Thomas Wentz Sr., the CEO of the firm, made a very interesting comment, he said: “I have certainly seen worse apartment and commercial real estate conditions in [his tenure with the firm]. However, never do I recall the current level of predicted gloom, doom, and pending disaster.” Later on in the call, in response to a shareholder who asked if this crisis is as bad as the warnings about it have been, he reiterated the same sentiment saying “Not yet, it is not. Certainly our company has been through more severe downturns in the 80s and the 90s that took down Trammell Crow and other long-standing real estate companies and we had no difficulty in that period, and I would say at this point we are still not seeing any problems. But I would say that I don’t know that I have seen such doom and gloom presented from the media and a meltdown that seems to apply to every segment of our economy.”

We get the feeling that Mr. Wentz isn’t buying in to the “end times” scenarios that are so prevalent today. He is, however, not ignoring the economy or the credit crisis either.

We encourage anyone interested in the full context of Mr. Wentz’s remarks to read the full transcript of the call.

MasterPlan Capital LLC offers private and institutionally funded commercial mortgage loans, equity financing and asset management services to commercial real estate investors, property owners and developers nationwide. Borrowers may use our simple, 1 page, online commercial mortgage application and receive an answer the very next business day.

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One Response to “Wentz, CEO of Investors Real Estate Trust (IRET), Has Seen Worse Times, but Never Worse Sentiment”

  1. Shawn Says:

    Often you see more savy buyers and investors in commercial real estate. You still have the same problems as anyone else and people who don’t know what they are doing but for the most part this is not an overwhelming problem in this sector. Myself, I’m still learning commercial and you really have to watch those numbers(more so than residential) to have a succesful time. There’s just a higher standard of professionalism(the higher prices almost demand it).

    Thanks

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