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Infrastructure

Dumb Enough To Buy The Brooklyn Bridge

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
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Owning a toll bridge or a toll road would seem like a license to steal. It is, if you can get the asset at a good price.

With real estate and financial assets going through a period as bad as any in 25 years, institutional investors are looking at infrastructure plays. And, funds are being formed to go after the same properties.

According to Portfolio "Stanford’s Collaboratory estimates that more than 72 new infrastructure funds have been introduced since the beginning of 2006 and that more than $160 billion has been raised during that period for infrastructure investment."

With that much money chasing a limited pool of infrastructure properties, the dynamics of these investments may start to look like real estate did five years ago. The best real estate, both commercial and residential, had plenty of buyers. Buyers were, in fact so abundant that prices moved irrationally high.

A bridge may bring a good yield, but only if it is to be had at a bargain, Among other things, someone has to pay for the up-keep.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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