|ED MATHIAS: Let’s take a quick
look at the local business climate.
CURTIN WINSOR: If you take it
over the past 20 years, the ’90s were
the time of technology and telecom,
and more recently, it’s been the time
of real estate and development. Some
significant fortunes have been made
over the past ten years with the real
PAUL VEITH: This is a vibrant
market with great opportunity; a lot
of the growth has been fueled by
the government contracting firms
that have sprung up. We think the
opportunity is terrific for straight
investment management, as well as
the broader wealth management
services that we offer.
MICHAEL HARRELD: It’s a place
where an enormous number of
people made a lot of money in
the real estate business in the last
50 years. But many of them are
liquefying [property], either by
sale or diversification. And as they
do so, we find them interested
in non-traditional investment
|opportunities. They’re open to
hedge funds, private equity funds,
and to a far more creative approach
than a traditional portfolio of stocks
MATHIAS: Real estate is an important
factor in the region and of great
interest to our readers. Any thoughts?
WINSOR: In Washington you’re
lending to the business of government.
And because of that we have an
inherently stable market; not that it’s
without its minor peaks and valleys.
Real estate is fairly fully valued
now as compared to three years ago,
and it’s going to remain steady for at
least three or four years as inventory
gets depleted and demand catches up.
MATHIAS: Have you seen an
increased interest in those wanting to
live in the District of Columbia?
WINSOR: Yes. The reason for that
is there’s no political will to fix the
transportation infrastructure for
commuters. And after that, when
you do get the political will, you’re
going to have to get the money and