After 3 decades in residential real estate, Fred Sands likes shopping malls

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

When he sold his Southern California brokerage business to Coldwell Banker at the turn of the century for more than $100 million, Fred Sands Realtors and its affiliated companies employed 4,000 and was generating $9.4 billion in sales per year.

Now, the Los Angeles Times reports, Fred Sands’ Vintage Real Estate is buying up shopping centers around the country — 1 million square feet in the last 12 months — and he’s also the head of a private investment fund, Vintage Capital Group.

“If you fix up a house, it adds value,” Sands tells the Times. “It’s the same way with shopping centers. A remodel improves its looks, and if you have the right contacts, you can get the right tenants and get a better cash flow.” Source: latimes.com