From a recent New York Times interview with Stanley Chera, founder of Crown Acquisitions, which owns dozens of retail and office properties across North America:
“We’re very underleveraged. We borrow maybe 35 percent; on some properties it’s 25 percent.
The secret is to stay underleveraged and you can own something forever. I have 100 pieces of property, say, but I could have 1,000 leveraged. I’m very comfortable with having what I have.”
Would you rather have 100 unlevered buildings or 1,000 leveraged buildings?
Image: Flickr
