Office-to-residential conversions won't be viable without a 50% price drop, Goldman Sachs says
Office-to-residential conversions can be costly and take longer than new construction.
Source: fortune.com
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Sunday Summary: Power South Florida Is Back, Baby!
This week saw the Power Florida list, AI firms hunting for offices and a frigid January for office building valuations.
Source: commercialobserver.com
As The Commercial Real Estate Sector's Woes Deepen, This New York Fund Plans To Lend $2 Billion To Troubled Property Owners
There will always be a group of investors who buy into industries during down cycles because they feel that's when the potential upside is the highest. That's why Ran Eliasaf, who heads The Northwind Group private equity and fund, is planning to make up to $ 2 billion in short-term loans to the struggling commercial real estate sector this year — a capital injection that would be welcome. According to the Mortgage Banker's Association, 20% of the $4.7 trillion in outstanding real estate mortgage
Source: yahoo.com
Northwind Group Provides $111M Takeout Financing on Houston Condo
Pelican Builders and Ember Group secured $111 million in first-mortgage financing for The Hawthorne, a 17-story, 67-unit luxury condo.
Source: commercialobserver.com
Real estate pain for US regional banks is piling up, investors warn
New York Community Bank's commercial real estate exposure has raised concerns among investors after the regional bank was hit with downgrades of its credit ratings in recent weeks.
Source: foxbusiness.com