Deconstruct - Episodes Tagged with “Distress”

Inside the workout room with Iron Hound's Rob Verrone

The Real Deal — Mon, 28 Oct 2024 05:00:00 -0400

In the latest episode of Deconstruct, TRD's Suzannah Cavanaugh finds out how loan specialists fix bad debt – or at least try to – by talking with loan workout specialists Rob Verrone and Job Warshaw of Iron Hound. Verrone works with sponsors to hash out modifications for distressed CMBS debt, and Warshaw brings perspective from the other side of the table — he spent three decades heading up negotiations for special servicer LNR Partners.

Dealing with Syndications 101 with LP Adviser Aleksey Chernobelskiy

The Real Deal — Tue, 28 May 2024 05:00:00 -0400

Aleksey Chernobelskiy has many pieces of advice for retail investors writing checks for syndicated real estate deals. But, one of the most important: you could lose it all. As many syndicators — firms that pool equity to buy property — grapple with distress, thanks to rising interes rates, investors have been stuck in the crosshairs trying to determine whether to pump more money into a struggling deal, or walk away.

Deconstruct chatted with Chernobelskiy about syndicator best practices, what retail investors should know about real estate investing, feeder funds tapping wealth for these deals and what LPs can do if everything goes wrong.

Deconstruct Live! Talks Bank Failures, Multifamily Fears with Fortress, Benefit Street and Urban Standard

The Real Deal — Mon, 13 May 2024 05:00:00 -0400

It's Deconstruct Live! at The Real Deal's New York Forum. Fortress' Steve Stuart, Benefit Street Partners' Mike Comparato and Urban Standard Capital's Seth Weissman talk bank failures, distressed note buying and lending demand in a live taping of Deconstruct.

Looking at the Legislation Critical to Making Office-to-Residential Conversions Work

The Real Deal — Mon, 29 Apr 2024 05:00:00 -0400

It's not just tax credits. It's not just zoning by right. To make office-to-residential conversion projects work, developers need all of the above, says Bobby Fijan of Philadelphia-based Form Developers. TRD's Deconstruct chatted with Fijan about some of the legislation, policies, subsidies and programs across the country that have helped push these conversions forward.

Moody's Checks In on the Wall of Office Maturities

The Real Deal — Mon, 08 Apr 2024 05:00:00 -0400

The foretold wall of CMBS maturities has hit and early data on office loans signals the fears around repayments — that troubled owners won't be able to swing it — are being realized. Deconstruct talks with Moody's Analytics Senior Director and Head of CRE Economic Analysis Kevin Fagan and Director of CRE Economics Matt Reidy.

New York Community Bank: Canary in the Coal Mine for CRE Pain?

The Real Deal — Mon, 05 Feb 2024 05:00:00 -0500

New York Community Bank reported a surprise loss in the fourth quarter, took an axe to its dividend and socked away over $500 million for commercial real estate losses. The bank's stock sunk to a 23-year low and other regional lenders fell in response. Is NYCB a red flag or a one-off for CRE distress in the banking space? Deconstruct digs in.

Brokerage Head Kyle Matthews On What's Next For Commercial Real Estate Across The Sun Belt

The Real Deal — Mon, 29 Jan 2024 05:00:00 -0500

Not many commercial brokers branch out to start their own brokerages. But in 2015, Kyle Matthews did. Today, his Nashville-based firm Matthews Real Estate has done more than $50 billion in deals and about 650 agents. Most of what Matthews is focused on is advising clients — helping buyers and sellers sort out investments and identify pockets of opportunity. At a time when some asset classes (hint: multifamily and office) are struggling across the Sun Belt, Matthews thinks there's never been a better time for brokers to take on this role.

The Real Deal's Deconstruct chatted with Matthews about how values dropping presents an opportunity for buyers and what he's predicting across the Sun Belt in 2024.

The Syndicator's Dilemma: A Multifamily Boom Goes Bust

The Real Deal — Mon, 30 Oct 2023 05:00:00 -0400

Two years back, when money was still cheap, a new crop of investors was getting in on the red-hot multifamily market. Syndicators — investors who pool money to buy properties — turned to floating-rate debt to quickly close on deals when demand was at its peak. After a year and a half of rate hikes, many of those fledgling investors are now grappling with distress. Nuvo Capital Partners' Brian Underdahl discusses the catalysts behind that boom and how his firm is working with borrowers to save troubled deals.

RXR Realty CEO Scott Rechler Talks Distress, Slowdowns and Opportunity

The Real Deal — Mon, 26 Jun 2023 05:00:00 -0400

RXR Realty CEO Scott Rechler's year has centered on "Project Kodak" — a strategy of separating older, obsolete office buildings from a younger product that can still pull the tenants and rents to thrive. TRD's Deconstruct sat down with Rechler to unpack how that strategy has evolved, why he's pegged multifamily as the next shoe to drop and whether the Fed's recent rate pause will lift the gates on investment sales.

Credits: CBS New York

Is Texas Immune From Distress?

The Real Deal — Mon, 29 May 2023 05:00:00 -0400

In the pandemic, a wave of new residents flooded into Texas. No income tax, cheaper homes and plenty of good barbecue joints. Six of the 15 fastest growing cities in the country from July 2021 through July 2022 were in Texas, the only state with more than three on the list. That presented a massive opportunity for developers, with homebuilders such as Lennar developing entirely new cities on the outskirts of Austin, Houston and Dallas. But will a bust come after the boom? Deconstruct chats with The Real Deal reporter Joe Lovinger about where investors are starting to see signs of distress in Texas and how commercial and residential real estate players are grappling with a new interest rate reality.

From The '90s to Now: Making Sense of CRE's Downturn

The Real Deal — Mon, 27 Mar 2023 06:00:00 -0400

As distress descends on commercial real estate, Deconstruct analyzes how past financial crises can inform how borrowers, banks and policy makers handle this down cycle. Guests include: Bob Knakal, JLL Senior Managing Director, Head of New York Private Capital Group; and Sam Chandan, Professor of Finance and Director of the Chao-Hon Chen Institute for Global Real Estate Finance at the New York University Stern School of Business.

Inside Downtown LA’s Pain Points

The Real Deal — Mon, 13 Mar 2023 05:00:00 -0400

Brookfield has defaulted on $784 million worth of loans connected to office towers in Los Angeles. Starwood foreclosed on the completely vacant Broadway Trade Center. A deal to sell a 40-story tower has been delayed for the 10th time. So what is going on with Downtown L.A.‘s office market? Deconstruct chats with Michael Soto, a research director at Savills, about the pain we’re seeing across the city’s center and how we ended up here.

Credits: CNBC