Banks were falling over themselves to lend on property, and prices were soaring, pushing investment yields on London City offices, or rents expressed a percentage of a property’s value, as low as 4.5 percent by the eve of the credit crunch in mid-2007. In press releases published by the syndicate manager at the time, Ferguson was quoted as saying: “This is my first step into real estate, and I am quite bullish about it.” The City of London property market had begun to shake off the effects of the dot-com crash in 2003 when Ferguson made his debut in the sector, purchasing a seven-storey office building at 70 Gracechurch Street in a 150 million pound syndicated deal set up by now-defunct fund firm Active Asset Investment Management (AAIM). Instead, they see him channeling his famous energy and ambition into a string of “hobbies” with serious money-making potential, including horseracing, film financing and real estate investment, where he has already notched up some big wins. The most celebrated manager in the British national game will bid farewell to a stellar career in sport on May 19, but few who know Ferguson outside the world of soccer are predicting an idle retirement for the 71-year-old Scotsman. LONDON (Reuters) - Retiring as coach of English soccer team Manchester United will give Sir Alex Ferguson, who famously described himself as “such a bloody talented guy”, more time for the other strings in his bow, including a little-known talent for investment.
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