ARE Asset Management, Miami, has launched two offshore investment funds registered in Tortola, British Virgin Islands, with the aim of making income-producing and opportunistic investments in the U.S. residential and commercial real estate credit markets. "Although turbulence due to the repricing of subprime adjustable-rate mortgages may continue, the U.S. real estate market has stabilized somewhat, producing some unique circumstances," said Jeffrey Kirsch, managing principal of ARE. "Given today's prevailing interest rate scenario, a U.S. real estate portfolio based upon accurate appraisals and aggressive loan servicing has the potential to yield above-average returns."
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