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Kayne Anderson’s speedy $1.3bn real estate debt fundraise shows the virtue of waiting for the right opportunity and the right time.
Last month’s real estate debt fire sales at the outset of the covid-19 outbreak in the US were just the tip of the iceberg for private real estate
During its first-quarter earnings call, the New York-based mega-manager said it had $44bn to deploy in real estate when opportunities arise.
Losses and write-offs on retail debt could reach £10bn, while £22bn of development loans face delays, the latest UK lending market report by Cass Business School predicts.
Coronavirus shutdowns have pushed nearly $25bn of US CMBS loans to the brink of delinquency, and the worst is yet to come.
A measure to allow some borrowers to request forbearance from special servicers could hinder new loan originations, said a Real Capital Analytics executive.
Commercial tenants have been granted rent holidays as they deal with the impact of covid-19. Now, pressure is mounting for debt providers to grant similar treatment to their borrowers.
doing business amid coronavirus
Conversations with debt providers suggest many will favor a collaborative approach to dealing with difficulties faced by borrowers.
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.

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