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With tenants now defaulting on rent payments, new regulations will play a critical role in lowering the number of casualties in the industry.
The Danish pension fund says it has benefited from its relatively high exposure to real estate during a time of coronavirus-induced market unrest.
The refusal by tenants to pay rent under a covid-19 lockdown has raised the fear of creating a ‘cascading effect’ among related contractual parties.
The sovereign wealth fund finalized a $150m commitment to the sector after entering into discussions at the end of last year.
Two European LPs have already defaulted on capital calls, and more are rumored, as LPs get hit with a one-two punch of large, often early capital calls and drying up distributions.
The firm expects its industry peers to be stretched from a liquidity perspective, and plans to take advantage of the market dislocation.
Otherwise, US private real estate mogul Tom Barrack says, widespread margin calls could trigger the next financial crisis – and it’s hard to disagree.
Colony Capital’s CEO calls for lender leniency to avert a mortgage market collapse, triggering a financial crisis.
The firm plans to introduce its first real estate debt offering after rebranding its property business this month.
The $828bn sovereign wealth fund had already been in the market before the outbreak of covid-19, which has only added further strain to the challenged sector.
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