Some of the bigger players are still making deals. But the majority are waiting for market dislocation to work itself out so they can take advantage of the resulting bargains.
Low leverage and all-cash buyers continue to drive activity in the net lease space. But investors are tightening acquisition criteria to account for higher risk.
In the past three months, trading in private real estate secondaries, including non-traded REITs, BDCs and private placements, has increased by an order of magnitude compared to last year, says the CEO of LODAS Markets.
Wells Fargo CEO Charles Scharf said the bank’s business remained 'strong' despite the recent banking crises, while JPMorgan Chase’s wealth division boasted a YoY net income boost of 36%.