James Jacobs, head of real estate for Lazard’s private capital advisory group, says the easing of restrictions on both sides of the Atlantic is changing institutions’ appetite for risk.
Starwood now expects less troubled deal flow to emerge in the non-performing-loan space from the current pandemic crisis than it did before. But that should not worry investors which committed to its latest ‘distressed’ fund.
Blackstone and Starwood’s sweetening of an already sweetened offer shows a strong conviction in the sector.
The New York-based firm’s latest vehicle is effectively a non-traded REIT within a 1940 Act wrapper, but the wrapper is where the innovation lies.
Inflation fears are back but mitigating forces should not be underestimated, says Jose Luis Pellicer, head of investment strategy and research at M&G Real Estate.
Oaktree’s substantial deployment of its latest property fund is not indicative of dealflow in the market overall, but rather that it is ahead of the pack.
Rising foreclosure rates show relief has not prevented some borrowers from losing their properties – and they give a glimpse of what is to come next year.
Vacancy and rental levels could be on a longer-than-anticipated road to recovery, especially in western markets.
The wall of capital will likely mean lower returns for property credit strategies. But that has not deterred institutional capital from piling in, as this record-breaking close will attest.
Securitised real estate debt has been battered by the covid-19 pandemic. Now institutional managers must decide what to do about it.