--- title: Commercial Loans and Fun Blog | George Soros description: George Soros | George Blackburne, owner, offers insight into the commercial loans and mortgage industry in this Commercial Real Estate Loan Tips blog. --- [![c-loans-logo-2025](https://info.c-loans.com/hs-fs/hubfs/images/c-loans-logo-2025.png?width=183&height=86&name=c-loans-logo-2025.png)](https://c-loans.com) [Terms of Use](https://www.c-loans.com/terms-of-use) | [Disclaimer](https://www.c-loans.com/disclaimer) | [Blog](https://info.c-loans.com/) # Commercial Loans and Fun Blog ## [Where George Soros is Investing Today - He's Bottom Fishing](https://info.c-loans.com/where-george-soros-is-investing-today-hes-bottom-fishing) Posted by [George Blackburne](https://info.c-loans.com/author/george-blackburne) on Wed, Jun 26, 2024 - [Tweet](https://twitter.com/share)   [![Free Book, "How To Invest in 12% First Trust Deeds"](https://no-cache.hubspot.com/cta/default/37671/23901fd2-646a-4871-be41-d3adcf3c588f.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/23901fd2-646a-4871-be41-d3adcf3c588f)   ![Retire Island](https://info.c-loans.com/hs-fs/hubfs/Retire%20Island.png?width=409&height=398&name=Retire%20Island.png)   [![Free Commercial Loan Placement Kit](https://no-cache.hubspot.com/cta/default/37671/882eb54a-a8b4-4c38-a2ed-605338b6f07a.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/882eb54a-a8b4-4c38-a2ed-605338b6f07a)   During the COVID lockdowns, franchise hotels that cost $15 million to build were, at least according to the Income Approach, essentially worthless.  They were all losing money.  Then COVID ended, travel resumed, profits returned, and their values soared back up to over $15 million. Now think about golf courses.  Beautiful $14 million golf courses, in affluent areas and lined with mansions, were, at least according to some idiots, worth less than $3 million because they were losing money.  There were too many golf courses.   [![Apply For a Commercial Loan to Blackburne & Sons](https://no-cache.hubspot.com/cta/default/37671/120baa19-46d4-4c17-983a-ff68e4604be8.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/120baa19-46d4-4c17-983a-ff68e4604be8)     ![Fat Kid](https://info.c-loans.com/hs-fs/hubfs/Fat%20Kid.png?width=383&height=473&name=Fat%20Kid.png)   [![Free Commercial Loan Software](https://no-cache.hubspot.com/cta/default/37671/f8924837-4c27-4eb1-a5d8-c49f9b09d9e8.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/f8924837-4c27-4eb1-a5d8-c49f9b09d9e8)   Then many over-leveraged golf courses failed.  Supply fell to meet demand.  Those $3 million courses soon soared to $7 million and more, as the owners were finally able to raise their greens fees.   Can you imagine some new developer spending $14 million to build a competing golf course today?  It will be decades  before the numbers justify the construction of any new golf courses.  Golf course owners are protected from new competition.   [![Submit Your Loan to 750 Commercial Lenders Using C-Loans.com.  It's Free!](https://no-cache.hubspot.com/cta/default/37671/7bcb7dc6-4127-4491-982a-16e57ca54d60.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/7bcb7dc6-4127-4491-982a-16e57ca54d60)   ![Stipper](https://info.c-loans.com/hs-fs/hubfs/Stipper.jpeg?width=309&height=442&name=Stipper.jpeg)   [![Free List of 3,159 Commercial Lenders Sort By Your Own Criteria](https://no-cache.hubspot.com/cta/default/37671/edc33fe8-9d87-477b-bf2f-07a33d3d2d24.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/edc33fe8-9d87-477b-bf2f-07a33d3d2d24) Now think about office buildings.  Construction costs have soared with inflation.  The replacement cost of most office towers today is stratospheric. Some would argue that the world has discovered that it doesn’t need so much office space.  People can work from home, right?  As a result, office towers in New York City are selling for just 45% of their values six years ago.   [![Nine-Hour Video Training Course How to Broker Commercial Loans](https://no-cache.hubspot.com/cta/default/37671/2fa994cb-f6ac-4671-821f-b4bd48cb5f1f.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/2fa994cb-f6ac-4671-821f-b4bd48cb5f1f)   ![Delivery](https://info.c-loans.com/hs-fs/hubfs/Delivery.png?width=368&height=452&name=Delivery.png) No one ever listens to me, but brokers... It's all about loan servicing rights. [![Become a Direct Lender Approve Your Own Deals](https://no-cache.hubspot.com/cta/default/37671/3340a345-5631-4c56-940b-320f3d14bbda.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/3340a345-5631-4c56-940b-320f3d14bbda)   [![Get Both Video Training Programs For Just $849.](https://no-cache.hubspot.com/cta/default/37671/d0fb44bc-2893-4551-8a92-6a5080c4296e.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/d0fb44bc-2893-4551-8a92-6a5080c4296e)   Some lender had a delinquent $200+ million first mortgage on a half-empty office tower in NYC.  The lender just sold that note for around $100 million to George Soros. I think Mr. Soros was savvy enough to realize that the replacement cost of real estate often matters a great deal.  Soros will probably foreclose on the building, but he is wealthy enough to hold that office building until supply falls enough to meet demand.     [![Trade an Accredited Investor For Our Broker Commercial Loans Video Course](https://no-cache.hubspot.com/cta/default/37671/7884d3d6-ec54-4271-8c7d-fa2ddf872637.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/7884d3d6-ec54-4271-8c7d-fa2ddf872637)   ![Screen Shot 2024-06-26 at 3.07.40 PM](https://info.c-loans.com/hs-fs/hubfs/Screen%20Shot%202024-06-26%20at%203.07.40%20PM.png?width=329&height=245&name=Screen%20Shot%202024-06-26%20at%203.07.40%20PM.png)   [![List of Commercial Lenders 2,500 For Just $79.95](https://no-cache.hubspot.com/cta/default/37671/9488a761-b4e6-4b02-b82c-4ccc932612bc.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/9488a761-b4e6-4b02-b82c-4ccc932612bc)   I think that Elon Musk is a pretty smart guy too.  He says that workers are much less efficient when they work from home.  He ordered everyone working for his companies to return to the office.  Other companies may discover the same thing.   I think George Soros just made one helluva deal.  Can you imagine how long it will be before any competing office towers are built?  Fifteen years?  Longer?  Astronomical construction costs are a very high barrier to new competition.  He has that *moat* around his office space leasing business that Warren Buffet is always talking about.   [![How To Market For Commercial Loans  Video Course ](https://no-cache.hubspot.com/cta/default/37671/31b3aab7-d992-4293-81e6-ba38a950a89d.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/31b3aab7-d992-4293-81e6-ba38a950a89d)   ![Chewey](https://info.c-loans.com/hs-fs/hubfs/Chewey.png?width=451&height=565&name=Chewey.png)   [![Follow George on X (Twitter) Hit the Follow Button Next](https://no-cache.hubspot.com/cta/default/37671/8ece6f95-5245-4c5e-af9a-b1a255850a22.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/8ece6f95-5245-4c5e-af9a-b1a255850a22)   [![Subscribe to the Commercial Loans and Fun Blog](https://no-cache.hubspot.com/cta/default/37671/4f3dc735-c6a0-4e0b-a910-ec40cb81ac56.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/4f3dc735-c6a0-4e0b-a910-ec40cb81ac56)   [![Free List of 750  Commercial Lenders](https://no-cache.hubspot.com/cta/default/37671/a4af5927-a6d4-4a3f-a2d0-ea0b022cb081.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/a4af5927-a6d4-4a3f-a2d0-ea0b022cb081)     0 Comments [Click here to read/write comments](https://info.c-loans.com/where-george-soros-is-investing-today-hes-bottom-fishing#comments-listing) Topics: [George Soros](https://info.c-loans.com/topic/george-soros) [All posts](https://info.c-loans.com/all) ### George Blackburne III Owner of C-Loans, Inc. ![George Blackburne III C-Loans Owner](https://info.c-loans.com/hs-fs/hubfs/George%20Head%20Shot%20Small%205%20by%207%20copy.jpg?width=158&name=George%20Head%20Shot%20Small%205%20by%207%20copy.jpg) ### Subscribe via E-mail ### Connect with C-Loans ## [![Get the Latest Scoop on C-Loans Inc.](https://no-cache.hubspot.com/cta/default/37671/bacfb58b-143e-40d7-b126-33c182b5b90b.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/bacfb58b-143e-40d7-b126-33c182b5b90b) C-Loans.com® is sponsored by  C-Loans, Inc. — For more information, contact Tom Blackburne 555 University Ave., Suite 150, Sacramento, CA 95825 Telephone: (916) 338-3232 x 317 * Tom Blackburne in Indiana: (574) 210-6686 * Fax: (916) 338-2328 Real Estate Broker -- California Department of Real Estate -- License Number 01330173 Arizona Dept. of Financial Institutions – License Number 0909472 The Florida Mortgage Brokers License Number: 0708758 [Read our many client Success Stories](https://c-loans.com/mortgage-brokers-overview/success-stories/) » © 2025 C-Loans, Inc. 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