Veteran investment banker Andrew Pridham says there is a “great opportunity” to buy alternative real estate assets at below replacement cost and position them for the next upswing – as the current interest rate rising cycle nears its close.

“It’s a unique time to buy assets, if you can buy them at big discounts to their replacement cost, which gives you a great safety net and a real booster to returns,” Mr Pridham, the vice chairman of ASX-listed alternative asset manager MA Financial, told the firm’s in-house summit in Melbourne on Wednesday.