Investor Profile: Duncan Matteson
A big man with an imposing voice can be intimidating, but couple that with a powerful drive and strong opinions and you get the idea of what a conversation with Bay Area real estate icon Duncan Matteson might be like. We’re in only the first minute of our interview, and Duncan wastes no time in getting right to the point: “The government and therefore lenders made far too much money available on too easy terms. During that period, we sold a lot of buildings at 4.5 to 4.75 cap rates, which is insanity for anybody to pay. I have a lot of feelings about how the industry got overpriced,” he says. “I’ll tell you what I feel strongly about and the opportunities I see.” And so goes the rest of our dialogue.