Wharton Private Equity Panel (2002) "Leverage the hell out of your assets with very cheap debt, try to buy good assets," said Bluhm, "because I don't think we may have another opportunity like this." Bluhm was discussing how the market components are teeing up. "Today you have some very distressed markets where you are starting to see a few opportunities, but nothing like what you saw in the early 1990s," he said. "That's because sellers and owners are very well capitalized, interest rates are low, and you are not seeing a flood of those transactions." He added that in the 30 years he has been in this business, "I have never seen a situation where you could borrow money so cheap and get such a great cash flow even though the underlying rental markets are not strong."