“I’ve been participating in Zoom happy hours, Zoom cheese and wine, and it’s a pathetic replacement,” says Bill Daley, vice chairman of public affairs at Wells Fargo.
The freefall is over, but it might take a few years for urban apartments to fully return to their pre-pandemic form.
The few merchants looking to sign new leases on one of the world’s most fashionable retail streets are demanding deep discounts.
With a recovery coming sooner than many anticipated, there may be more capital chasing distressed assets than viable opportunities.
Current market conditions create a rare opportunity for deployment of preferred equity as a form of short-term recapitalization of commercial real estate assets.
The company is considering a plan to raise $400 to $500 million through an IPO.