- Distressed Assets Simmer On The Sidelines As CMBS Delinquencies Lurch Higher “In short, even in times of great economic distress, getting to the special servicer takes time. In the meantime, investors have their dry powder ready, though the term hardly does justice to the mass of investment capital ready to acquire distressed commercial real estate.” (Bisnow)
- Reason for Lending Optimism Arises From COVID-19 Ashes “Yes, the COVID-19 pandemic wreaked havoc on commercial real estate, with virtually no product type escaped unscathed. And while the greater economy took a hit, the recession was purely a reaction to imposed shutdowns. Therein lies the hope for not just the real estate industry, but the overall economic picture as well, says Justin Wilbur, SVP of KeyBank Real Estate Capital’s Central region.” (GlobeSt.com)
- Angelo Gordon’s $1.5B Fund Targets European Assets “Alternative investment giant Angelo, Gordon & Co. has raised more than $1.5 billion in equity commitments for its latest European fund, AG Europe Realty Fund III. The fund will target off-market, sub-performing, value-add assets across all property types in the U.K., Western Europe and Nordic countries.” (Commercial Property Executive)
- The Pandemic Is Rewriting the Rules of Retail “Retailers need to stop expecting business to return to “normal.” There’s no going back to how it was anytime soon. Even before the Covid-19 pandemic and economic crisis, brick-and-mortar retailers had been fighting a fierce battle against Amazon and other e-commerce players. Those challenges have now accelerated at staggering speed.” (Harvard Business Review)
- New York developers join forces to pursue ‘special situation’ opportunities “Two New York development companies have joined forces to build residential and mixed-use properties across the US and pursue ‘special situation’ investment opportunities. Winter Properties – part of the Standard Industries platform – and Hyperion Group announced their first joint venture will be a $100 million mixed-used development in West Palm Beach, Florida.” (Real Estate Weekly)
- RE-OPENING CANADA: Toronto's real estate industry wants to boom again “The real estate board expects consumer confidence will improve as people gradually go back to work. A growing number of people will look to take advantage of current very low borrowing costs to buy a home, it said.” (TheWhig.com)
- Connecticut is putting out the welcome mat for New York companies that have grown tired of the city during the coronavirus pandemic “As the coronavirus pandemic has reshuffled the economic landscape across the country, Connecticut is targeting small companies with top executives who may have grown tired of the long commute into Manhattan and instead are thinking about opening a headquarters or satellite operation in lower Fairfield County.” (Hartford Courant)
- Living With Your Desk Mates “While many of her co-workers were quarantining with their families, four lived alone and were also growing weary of social isolation…. The group decided to search for a house rental outside the city for the month of June. A month, they figured, would be about the right amount of time to try things out — they were prepared for the possibility that isolating together in the country might not go well.” (The New York Times)
0 comments
Hide comments
