Billions of dollars are already lining up for an investment spree in distressed real estate debt and equity. New York City-based mortgage brokerage Eastern Union is among the firms jumping into the fray. The firm has launched a Distressed Notes Initiative that will identify investors interested in purchasing lenders’ troubled mortgages. Through the program, the company aims to help community banks and private debt funds find buyers for their distressed debt.
In the months before the COVID-19 pandemic hit, ghost kitchens were already taking off and helping retail landlords mitigate fallout from retailer vacancies. The lockdowns have accelerated ghost kitchen openings amid consumer’s much greater reliance on food delivery. The question now is whether the current dynamic will lead to a glut of these concepts down the line.
In this episode of NREI's Common Area podcast David Bodamer speaks with Kevin Wayer, CEO of the public sector and higher education group at JLL. Wayer outlines some of the specific challenges facing higher education institutions and the ways they are increasingly relying on real estate services firms to manage facilities and monetize assets.
The Wall Street Journal looks at malls that reopened last weekend. U.S. banks continue to disclose exposure to the reeling retail industry, reports the S&P Global. These are among today’s must reads from around the commercial real estate industry.
