Colliers Abood Woodfays Michael T Fay Sees Profit Ahead For Players Who Make Right Calls On Buying Realigning
Written by Miami Today on April 1, 2009
Where many see storms, surfers see waves. And some carry the philosophy from the beach into the office.
In today’s stormy economy, Michael Fay — commercial real estate veteran and longtime surfer — acknowledges challenges but sees promise. "Where there’s distress, there’s opportunity," he says.
Firm Colliers Abood Wood-Fay is structured to capitalize on some of today’s economic challenges, between its distressed property group, automotive real estate services group and tenant-rep advisory services, Mr. Fay says. It’s in these arenas that he gained now-vital experience during his early years in the business.
In founding Wood-Fay Realty Group with partner Thomas Wood in 1989, "our business was doing workouts and foreclosure work for the banks, life insurance companies and other major institutional groups," he says, citing the executives’ backgrounds as an advantage in today’s climate. "We’ve got a major step ahead of a lot of our competitors." Ready to ride out the economic squall, Mr. Fay talked workouts and waves with Miami Today staff writer Risa Polansky. To read this profile article in its entirety, subscribe to Miami Today’s E-paper. With the E-paper you will be able to read the entire contents of Miami Today online exactly as it appears in print. Or order this issue, to receive a regular printed copy of this week’s Miami Today. You may also subscribe to the printed edition of Miami Today to receive the newspaper every week by mail.